Without a doubt, conflicts among children arise on asset division, especially during the probate process. Without a proper estate plan, this can be a significant problem among family members, resulting in a rift and causes emotional family problems.
Many siblings argue about asset distribution when parents die without a will, from arguments regarding the distribution of assets to struggling with the probate process. Any experienced estate planning attorney can assist you in navigating these family asset problems. When you work with a reliable, knowledgeable attorney, you will benefit from the proper and fair distribution of assets.
Let’s dig a little deeper into the topic of probate and siblings.
Common Probate Problems Among Siblings
There are several probate problems among siblings that are critical to addressing. The most common ones include:
- Challenges with the parent’s last will and testament lead to significant conflict.
- Issues with the transfer of assets that a parent is making to one sibling and not another.
- Significant differences among the share of assets parents gifted to each sibling.
- If the siblings disagree on the appointment of any personal representative, executor, or trustee.
The absence of a will makes probate problems between siblings even more complicated. Once the court has been petitioned that a loved one has died, the probate process begins. The first step in the probate process is to notice all children involved. While they are not required to come to the court hearings, they have the option to do so.
How Can You Divide an Estate between Siblings?
Generally, the deceased’s last will and testament will dictate the plan of action regarding asset distribution. This is why having a will is essential. In some cases, parents choose to split the total assets equally among siblings without leaving any specific instructions on who gets what. The problem here is that siblings might disagree about what assets they want to take into their possession.
In other cases, parents allocate specific items to be distributed to each child. This is a common cause of conflict as one child isn’t satisfied with what they’ve been left. Still, in other cases, parents choose to liquidate all their assets upon death and have the liquidated funds evenly distributed between siblings. This is the best option to avoid conflict entirely.
Even when estate plans follow the least conflictual route, there may still be arguments amongst siblings. The most common reasons are:
- When any one of the siblings is suffering from a poor financial situation while the others are comfortable.
- When a single sibling consistently received more financial support from the parents while they were alive.
- When one sibling cared for their parents throughout life, it is likely they feel they are entitled to more assets than the other siblings.
- When siblings hold a greater ownership interest in their family business.
- When a sibling is disabled or can’t take care of themselves and is left additional assets to sustain their current lifestyle.
Contact Ensberg Law Group Today to Discuss Your Probate Issues
If you want to avoid probate issues, it’s vital to have a thorough estate plan drafted as soon as possible. Ensberg Law Group is here to help you with all your probate problems. Contact us today to schedule a free consultation with one of our Diamond Bar estate planning attorneys.