Answers to Common Questions About Your Will15th December 2023
Broadly speaking, a valid Will is one that is in writing, signed by the Will-maker in the presence of two witnesses who have also signed the document.
Disputes between Executors and Beneficiaries
Disputes between executors and beneficiaries can arise due to various reasons. Some of the most common types of disputes are:
Disagreements over the interpretation of the will: This is a common cause of disputes between executors and beneficiaries. The executor may interpret the will differently from the beneficiaries, leading to disagreements over how the estate should be distributed.
Delays in the administration of the estate: Executors have a duty to administer the estate in a timely manner. If the executor fails to do so, beneficiaries may become frustrated and seek legal action.
Mismanagement of the estate: Executors have a fiduciary duty to manage the estate in the best interests of the beneficiaries. If the executor mismanages the estate, beneficiaries may seek legal action.
Disputes over the value of assets: Beneficiaries may dispute the value of assets in the estate, leading to disagreements over how the estate should be distributed.
Disputes over executor fees: Beneficiaries may dispute the fees charged by the executor for administering the estate.
Disputes over the sale of assets: Executors may plan to sell assets in the estate, but beneficiaries may disagree with this decision. For example, beneficiaries may want to keep a family home in the family.
It’s important to note that disputes between executors and beneficiaries can be complex and emotionally charged. Seeking legal advice from RMB Lawyers can help you understand your rights and obligations and navigate the challenges that arise when disputes of this nature occur.