Executor Choice and Inheritance Disputes
Many people in Colorado believe that they can keep their loved ones from fighting over their inheritances with estate plans. Unfortunately, death and inheritances often bring out the worse in some people. One common reason why some individuals fight over a loved one’s estate is that they are not happy with the person who is in charge of managing it.
A testator can choose who they want to serve as their estate’s executor. That does not mean that their beneficiaries must like their choice. But unless they have a valid reason to contest it, they must accept the testator’s selection.
Sibling rivalry is often a factor
Many people believe that they can dispute a person choice for executor just because they do not like them or believe they can do a better job. But those issues are not enough grounds for a legal dispute. When a parent chooses one of their adult kids to act as their executor, their other children may believe that the designated executor is not capable of performing their duties properly, states APlaceforMom.com. There may also be issues about abuse of power and jealousy if there is sibling rivalry. Some people grow out of their rivalries with their siblings only to reignite them when a parent dies and leaves behind an estate.
Disputes are not always avoidable
Inheritance disputes are very common. Even people who are normally peaceful and well-behaved can become aggressive and angry if they feel they are being cheated out of their inheritances. According to Bankrate.com, “inheritance disputes can be time-consuming.” The longer an estate is tied up in probate court because of a dispute, the less valuable the estate becomes because of the legal fees that are incurred.
People should take care when choosing their testators. They should try to anticipate potential dispute issues and address them in their estate planning documents so their beneficiaries’ feelings do not interfere with their last wishes.