Szabo & Associates News & Updates

The decision as to who you choose to be responsible for dealing with your estate is an important part of the process of making your Will. The person chosen (though you can have more than one) is known as the executor. It is a crucial role and one that carries a degree of risk as well as responsibility.

Contesting a Will can add more uncertainty to an already difficult time. It is also a topic around which there is a lot of confusion. When thinking about whether to contest a Will, there are a lot of things you need to be aware of if you are to be successful. Here we outline some important things you should keep in mind. Alongside the obvious need to have eligibility under the law, a successful contest also goes hand in hand with being able to demonstrate your financial circumstances. For this reason, having combined advice from a financial and legal advisor can be crucial.

It is not uncommon in modern families for there to be a blend of biological, step and sometimes adopted children. When it comes to inheritance, however, stepchildren are not treated the same as other children.

Disputes between siblings over inheritance are not uncommon. These types of conflict can end up in court, leaving a judge to interpret the Will and decide on how an inheritance should be split. However, parents can help to avoid such disputes. Strategies might include ensuring wishes are set out and explained clearly in a Will, by setting up a trust, using non-siblings as executor or trustee, and giving lifetime gifts.

When separating parties are unable to come to an agreement on how to divide their property, they can apply to the court for a property settlement determination. The court will make an order on their behalf. In doing so, the court follows a five-step process to decide how to split the couple’s property fairly.