The wisest course of action in settling an estate may be to end the battle, so everyone can move on with their lives. However, that is not always possible, according to The New York Times in "Are Millions Missing? Some Relatives Want to Know. Others Don't."
Bobby McKee’s estate plan appeared to be going well, because he had created a trust that his wife benefited from while she was still alive. After she passed away, the trust continued for the benefit of the couple's three children. However, things did not stay peaceful.
A daughter and her husband grew concerned that potentially millions of dollars were missing from the trust. They initiated an investigation to see whether the mother's former advisors had acted improperly. That investigation has been going on for so long, that the two sons of McKee grew tired of it more than a decade ago. That is when they stopped speaking to their sister.
This highlights a potentially big problem when there are disputes over trusts and estates. The battles can go on for so long and they can become so all-consuming, that the stress they cause is no longer worth it for everyone involved. Lengthy disputes also tend to create large bills to attorneys and other professionals.
When this happens, it is often best to step back and think about whether the fight is worth continuing to pursue. It may be better to put an end to the stress and move on.
We can help you at any stage in the process to find a resolution that is best and help you prepare ahead of time to avoid issues in your estate planning as well. Contact us today for a consultation.
Reference: New York Times (March 22, 2018) "Are Millions Missing? Some Relatives Want to Know. Others Don't."