Mason & Helmers Saint Paul Estate Planning & Business Attorney | Mason & Helmers2024-02-07T21:03:09Zhttps://www.masonhelmers.com/feed/atom/WordPress/wp-content/uploads/sites/1403917/2021/08/cropped-favicon-mason-helmers-32x32.jpgOn Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=490452024-02-07T21:03:09Z2024-02-07T21:03:09ZLack of testamentary capacity
One common reason to contest a will is the alleged lack of testamentary capacity of the testator, the person creating the will. If you can demonstrate that the testator did not possess the mental capacity to understand the consequences of their decisions at the time of creating the will, it may provide grounds for contestation.
Undue influence
Undue influence occurs when an individual exerts pressure or manipulates the testator to make decisions that go against their true intentions. Contesting a will on the grounds of undue influence involves presenting evidence that someone had a significant impact on the testator's decisions.
Fraud or forgery
You can also contest a will if there are allegations of fraud or forgery. If someone can provide evidence of deception or that the will itself is a forgery, it raises legitimate concerns about the document's authenticity.
Mistake or ambiguity
Another reason to contest a will is if there are mistakes or ambiguities in its language. If the terms of the will are unclear, leading to confusion or misinterpretation, interested parties may seek to contest the document to ensure a fair and accurate distribution of assets.
Revocation
If you believe that the testator had revoked or intended to revoke the will, you have grounds to contest. This could involve presenting evidence of a subsequent will or a formal revocation of the existing one. Although cases involving famous people like Aretha Franklin grab the headlines, situations like this occur in all walks of life.
Improper execution
All states have specific requirements for the valid execution of a will. If there are allegations that the will was not properly signed or witnessed according to legal standards, it may provide a basis for contestation.
Inadequate provision for dependents
State law recognizes the rights of dependents, such as spouses and minor children, to a share of the deceased person's estate. If a will fails to provide adequately for dependents, they may contest the will to secure a fair and reasonable portion.
Being well-informed about your options empowers you to make decisions that can lead to a fairer resolution of a loved one’s estate.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=490322023-11-10T15:51:24Z2023-11-10T15:51:24ZFacilitating communication
The executor is responsible for managing the deceased's assets and overseeing the distribution of the estate. Their primary duty is to keep beneficiaries informed about the progress of the probate proceedings. This clear communication helps to prevent misunderstandings and disputes.
Valuing assets fairly
Disputes often arise when beneficiaries feel that the value of certain assets is not represented accurately. The executor takes part in fairly assessing the value of all assets in the estate. This can include real estate, investments and personal belongings.
Mediating disagreements
Sometimes, beneficiaries may have conflicting claims or disputes over specific assets or property. The executor can help mediate these disagreements by working with the parties involved and attempting to find equitable solutions. Impartiality is an important trait in these situations.
Finalizing distribution
After the evaluation of assets and settlement of debts, the executor oversees the distribution of the estate's remaining assets to the beneficiaries. Carrying out this process efficiently and fairly minimizes potential conflicts.
Data suggests that over 3 million cases go through probate every year. While not all of those cases result in disputes or litigation, it remains true that executors should be ready to step in and help resolve any conflicts.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=490312023-08-07T20:19:18Z2023-08-07T20:19:18ZHow many people actually have an estate plan?
Approximately 33% of Americans currently have an estate plan. Most point to a lack of time as the primary hurdle to getting a plan, while others voice concern about having enough assets to justify the process.
What should I include in my estate plan?
The exact legal tools to include in an estate plan vary depending on the estate and your goals. Some examples can include:
Will. Arguably the most commonly known estate planning tool, a will is a document that spells out who gets what.
Trust. This legal tool can hold assets and provide distributions in smaller sums. This is an important legal tool for those who have accumulated a higher level of wealth and can serve to help with tax savings and protections from creditors.
Power of attorney. You can tailor these documents to help guide medical care and financial decisions in the event of an incapacitating illness or injury.
Guardianships. Often associated with younger children, a guardianship can help ensure children are in good hands if we are not able to raise them into adulthood.
Estate plans often include a mix of these tools to help meet your goals.
What mistakes do I need to avoid?
A mistake in an estate plan can cause more than just frustration and an unintentional beneficiary, it can be incredibly costly. This is because in addition to the loss of the asset at issue the estate itself can go through costly litigation. Three of the most common mistakes to avoid include:
Lack of communication. Legal disputes are often rooted in miscommunication. One heir may truly believe they knew your intent and that the estate plan is not an accurate reflection. This could fuel a lawsuit in a misguided attempt to fulfil your wishes.
Poorly drafted documents. It is possible to update estate plans and redraft a will — but do so with care. The recent estate battle to determine which of Aretha Franklin’s wills was valid is one of many examples of the need to meet legal requirements for a valid will and have it in an easily accessible location.
Failure to keep up with beneficiary designations. It is important to make sure you update accounts that require beneficiary designations, like bank accounts, investments, and insurance policies. A wrong or missing designation can mean the asset gets caught up in probate or another court battle.
Unfortunately, even when we follow the rules disputes can occur. Those who find themselves navigating an estate dispute are wise to reach out to legal counsel experienced in this area of the law to help better ensure their interests are protected throughout the process.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=490242023-05-23T20:56:35Z2023-05-23T20:56:35Zpower of attorney candidate.
Trustworthiness
When you choose someone who will handle your legal matters, money and medical care, you need to find someone you trust. These individuals should have integrity. They should always act upon your desires, placing you first in the decisions they make on your behalf. Choose those who understand what you want and why.
Strength of will
Acting as a power of attorney requires significant responsibility. It is a demanding position, so choose someone who can handle the duties and is unafraid to speak up and make sure they prioritize your wishes. These individuals also need to have strong communication skills so they can clearly and concisely provide direction and argue your case. They have to be strong enough not to buckle under the pressures of your family and others in your life who may think they know better.
Applicable knowledge
Choose individuals who have education, experience and extensive knowledge about the process they will oversee. For example, choose someone familiar with medical processes to handle your healthcare decisions and someone with a legal background to take on your legal duties. You do not need a doctor, lawyer and financial advisor, but make sure they can navigate these areas adeptly.
As you finalize your power of attorney decisions, consider the location and convenience of these individuals. Also, do not forget to ask whether they have the time and willingness to serve in these positions.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=489882023-02-04T17:49:40Z2023-02-13T17:48:45ZCan you show evidence of faulty reasoning, memory and mental awareness?
Contesting a will on mental capacity grounds requires evidence that the individual lacked the capacity to understand the document they produced. You need evidence of questionable behavior, clear memory issues and signs of struggling awareness.
What types of evidence do you have?
You need to gather your evidence before you file the will contest to be sure that you can support the claim. Evidence for mental capacity contests includes things like statements from family members and the attorney who handled the will. The witnesses who signed the will should testify as well.
Medical records are valuable evidence as well. If the medical records for the deceased show dementia treatment or questions of mental capacity, that evidence will support your claim as well. Medical professional testimony can help as well.
The more details you can provide to show the mental capacity of the deceased, the easier it is to succeed with your will contest. If you have any reason to believe that your loved one wrote their will without proper understanding of the effect of their actions, contest the will in probate court.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=489872022-11-22T14:03:31Z2022-11-22T14:03:31Z1. What is it?
Probate litigation is a lawsuit filed against an estate's administrator or executor. Those involved in the case include the following:
Beneficiaries
Heirs
Executor
Administrator
Testator
The estate is everything the deceased owned at the time of their death. The administrator or executor is the one who acts on the estate's behalf and distributes it to the beneficiaries or heirs.
2. Why would it occur?
Probate litigation would occur for several reasons. The most common reasons are to contest an administrator appointment, to have the administrator or executor take action, to take account of the estate, to reclaim property belonging to the estate and to remove the administrator or executor.
3. Is it different than uncontested probate?
Uncontested probate gathers the deceased's estate and distributes it to the heirs and beneficiaries. While probate litigation occurs in the same courts, it is not the same. It is something that springs from this process. It involves contesting the probate process. Fortunately, probate litigation does not happen often.
Those who have not gotten their rightful inheritance will take action. Probate litigation can be a way to prevent the administrator or executor from fraud. In other words, it can be a way for people to access their rightful inheritance when it is being kept from them.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=489832022-08-14T02:45:19Z2022-08-14T02:45:19ZWhy would you say no?
You should thoughtfully weigh the legal and moral responsibilities inherent in these roles. Some things to think over:
These are positions of trust, and carry a fiduciary responsibility. If for any reason you fall short, you could be personally, financially and legally liable.
Executors and trustees must be well-organized, scrupulously honest, and able to get along well with all parties.
Consider the complexity of the estate or trust in your evaluation, and if you are willing and able to handle it.
Be honest with yourself about personal issues, like: Do you live too far away? Will the process be contentious? Will you get paid?
How do you say no?
If, after careful consideration, you believe the role is wrong for you, you have every right to say no. How to do that depends on the timing:
For executors:
During planning: graciously decline the offer
After death, but before the legal appointment: file a renunciation with the probate court
Resignation after acceptance: file a petition of removal with the court
After creation but before acceptance: provide written notice to all parties
Resignation after acceptance: this is a complicated process that may require an attorney's help
If someone asks you to fill the role of executor or trustee, carefully weigh the pros and cons; say no if you have any reservations.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=489642022-05-24T14:30:21Z2022-05-24T14:30:21ZManaging the estate finances
Executor.org discusses responsibilities that executors have. First, executors must organize the funeral. This includes paying for all associated costs with estate assets and handling the decedent's body in accordance with their wishes.
It also includes the management of estate assets. Executors should end any services that are no longer needed, such as subscription services and internet. This preserves as many assets as possible, which is important for beneficiaries. They must continue to pay necessary bills also using estate assets.
Communicating with beneficiaries
Speaking of beneficiaries, it is up to the executor to contact each one and divide up the remaining assets among them after the probate process has come to its end. They must also tie up any loose financial ends, such as repaying remaining debts and handling the final tax form.
In order to do all of these things, the executor needs to be a person with several distinct traits. They need to have strong organizational and communicative skills. They should value timeliness and stick to schedules well. They need strong leadership skills and must have the ability to self-manage and self-regulate, as no one else will have a position of higher authority than them.
To manage an estate well, it is crucial for an executor to have a decedent's personal trust, as well as these traits.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=486712022-02-24T22:23:20Z2022-02-24T22:23:20Zestate goes through probate depends on the type of assets you own when you die. If probate does need to occur, there are several types of disputes that can arise surrounding this process.
1. Breach of fiduciary duty allegations
The executor of an estate, and anyone else involved with the probate process, has a legal obligation to make sure everything that occurs mirrors what the decedent would want. The beneficiaries can file to remove the executor if they suspect that wrongdoing has occurred.
2. Executor does not want to participate
If you leave behind a will, it is your executor’s responsibility to distribute your assets to the correct beneficiaries. If your executor is not okay with managing this role, a delay or issue with the probate process can arise.
3. A contested will
If a few versions of a will exist, or the beneficiaries disagree about the terms of the will, those involved can contest the will during probate. Those who have their inheritance at stake are often the ones who will contest a will.
These are just a few types of probate disputes that can occur after you pass away. Carefully creating your estate plan and outlining your terms explicitly can reduce the likelihood of a dispute among your family members of beneficiaries after you die.]]>On Behalf of Mason & Helmershttps://www.masonhelmers.com/?p=486632021-11-17T19:44:04Z2021-11-17T19:44:04Zprobate process concludes, according to the American Bar Association, the intended beneficiaries can receive their assets. Although probate is a standard part of the estate administration process, there are many myths that surround it.
The probate process takes years
The probate process does take time because the creditors of the deceased must have the opportunity to file a claim against the estate to cover any outstanding obligations. How long this process takes depends on the estate’s unique circumstances, but it usually does not take more than a few months.
The existence of a will prevents probate
When you create a will, you document your personal wishes in regards to who gets your assets after you die. But since probate is the process of validating the will, most estates must undergo this legal process.
The probate process is expensive
The probate process does require an investment, but this investment is usually not enough to eat into the total profits of the estate. The cost will be higher, however, if a probate dispute occurs or if litigation ensues.
It is normal to have concerns about the probate process, especially after the death of a loved one. Those overseeing the estate of a deceased loved one should remember that this is a very standard process that can resolve itself relatively quickly.]]>