Most people that carefully create an estate plan never expect a problem to arise affecting probate for their loved ones. Unfortunately, several issues can embroil your family members in probate litigation.
Most people find it helpful to know about the potential issues that can arise during the probate process. This knowledge allows you to adjust or modify your estate plan to reduce probate litigation risks for your family in the wake of your death.
Family member disputes
Estate disputes among family members are a common cause of probate litigation. They typically arise when one or more heirs believe their loved one’s final asset distribution wishes went unfulfilled.
You can minimize the risk of family disputes by ensuring your estate documents clearly express how you want your assets divided among your heirs. Adding a no-contest clause to your will can also minimize probate disputes.
Creditor collection attempts
If you die without paying your creditors (for loans, credit card accounts, etc.), you open the door for them to challenge your will. Unpaid creditors become interested parties in your estate upon your death and may have grounds to challenge your will.
To reduce the risk of creditor challenges, keep your financial accounts current and consider addressing the payment of remaining debts in your estate plan.
Probate litigation and will disputes typically cause bereaved family members additional heartache and stress. Anything you can do in your estate planning efforts to minimize the risk of litigation will help your family grieve in peace.
For more insight into creating an estate plan that meets your and your family’s needs, familiarize yourself with Nevada probate laws and guidelines.