The probate procedure entails transferring assets of a deceased individual to the heirs or beneficiaries. Ideally, if the deceased wrote a legitimate will, the probate proceedings should be straightforward. However, there are unexpected events that may arise, causing problems during the assets transfer process. The issues could lead to loss of inheritance, reduced estate value, and family feuds. Thus, understanding possible issues that may arise during will transfer is vital to facilitate a successful probate process. Here are four potential problems that can arise during probate.
The Executor May Not Want To Play This Role
When a person writes a will, they must name an executor. The executor's role is to manage the assets and ensure that the probate proceedings run according to the deceased's wishes. Sometimes, an executor may not want this role, and the probate process may stall. Fortunately, you can nominate a property administrator or a probate attorney to take up this role.
The Executor Doesn't Fulfill Their Obligations
An estate executor has a fiduciary duty to manage the property as per the instructions in the will. When an executor doesn't follow the will and acts out of personal interests, the court has the right to revoke the probate process and appoint a new executor. In some cases, a probate lawyer can help the estate successors to take legal action against an executor for breaching fiduciary duty resulting in financial losses.
The Testament Is Contested
Usually, people contest a will when there's a doubt whether the will reflects the actual desires of the deceased. During a will contest, the contesting party must prove that the probate process should cease due to problems such as writing the will under a state of duress or fraudulence. Typically, the estate executor and the inheritors will present evidence showing the validity of the will. In contrast, the contesting party should prove that a will is invalid. With a probate attorney, you can provide sufficient evidence.
The Assets Can't Be Located
Another probate issue is missing assets. If there are possessions that should be part of the probate but can't be found, the process may delay as the search for the assets continues. To avoid this issue, the person creating the will should provide details on the location of the assets.
During probate, the potential problems to expect include missing assets, will contention, the failure of an executor to carry out the expected duties, or failure to take up the executor role. Your probate attorney can help you overcome these issues and carry out the probate process successfully.
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