Friday, June 21, 2013

How to Avoid an Estate Battle After You Die - NYTimes.com

You certainly don't know someone until you share an inheritance with them. This is the lesson of this story and the competing wills.  When families fight, lawyers win - and in this case to the tune of millions of dollars in legal fees.

Estate planning is not a do it yourself project and you should engage the assistance of a qualified legal professional, ideally someone who is board certified in wills, trusts and estates and has significant experience.  

How to Avoid an Estate Battle After You Die - NYTimes.com

Wednesday, June 5, 2013

The high cost of being unreasonable

I just came across this post on LinkedIn.  It demonstrates that when family members fight, lawyers win.  In this case, the estate was worth about $700,000.  Not a small sum, but not a great one either.  The reported legal fees for one of the parties was $200,000.  If you assume the fees for the other party were similar, then who wins?  The lawyers, of course.  The family loses in every possible way, financially and emotionally.

Estate planning is not a do it yourself project.  Anyone can contest anything, for any reason.  But, is it worth the cost? 

Trust Administration Dispute Ends Up Costly for Complainant | Elder Law Issues — Fleming & Curti, PLC