Friday, 7 March 2014

What is Probate and Trust Litigation?

The administration of an estate can be a stressful period – assets must be collected and managed, taxes paid, debts settled, and the remaining assets distributed as directed by the deceased through the provisions of a will or trust. Not only can an estate administration take months or even years to resolve, but the process can also evoke strong feelings of mistrust, jealousy, and even anger. Not surprisingly, disputes between parties regarding an estate are common, and frequently lead to the need for litigation.
Handling Disputes After Death

Probate and trust litigation involves disputes related to a trust or estate. Trusts are fiduciary arrangements managed by a third party, or trustee, who holds assets for a beneficiary according to the terms that are set by the trust. Trusts are often created for the purpose of avoiding probate, such that the assets held in trust can be distributed more quickly and with fewer complications than assets that are transferred according to the terms of a will. Nonetheless, trusts are not immune to legal challenges. Some common issues in trust litigation concern issues with a trustee’s breach of duty to a beneficiary, petitions to remove a trustee, disputes surrounding the interpretation of provisions in a trust, and even issues regarding the validity of the trust, such as whether the trust accurately reflects the intent of the person who created the trust.
Probate litigation, on the other hand, involves the contesting of a will, rather than a trust. A will specifies who the beneficiaries are and how the assets of the deceased are to be distributed between those beneficiaries. Wills can be contested on a variety of grounds during litigation, including claims of undue influence or fraud on the testator (the person who writes the will), challenges to the testamentary capacity of the testator to sign a will, challenges by disinherited heirs at law, and claims by third parties (such as creditors) against the estate.
Probate and trust litigation is not required to take place in a court. Sometimes, disputes can be settled via alternative dispute resolution in the form of negotiation directly between the parties or through the use of a mediator or arbitrator.
Protect Your Legal Rights
Probate and trust litigation requires knowledge of multiple areas of law, including (but not always limited to) tax, real estate, bankruptcy, and family law. An attorney may need to be able to determine which trust assets may be exempt from seizure during a bankruptcy. An attorney might also need to understand how trust arrangements can reduce estate taxes. These are only a few examples of how other areas of law can play a role in probate and trust litigation.
At the Law Firm of Peter M. Feaman, P.A., we have the experience and skills needed to handle issues that may arise in trust and probate litigation. If you are searching for a well-informed attorneyin the Boynton Beach or West Palm Beach area, contact us at (561) 734-5552 for a free consultation to see how we can help you.