Estate issues can often cause considerable conflict among family members. When a substantial amount of money is at stake, surviving loved ones can often feel a great deal of tension when working toward what they believe is the right outcomes for estate administration. Texas residents may be interested in one such situation currently underway in another state.
The estranged wife of a recently deceased millionaire is currently at odds with the estate due to the outcomes of the man’s estate plans. Reports indicated that the man’s bank currently has control over the estate as the man transferred his largest trust into the bank’s control just months before his death. However, the wife believes that undue influence contributed to this decision and that she should have more control.
The income generated by the assets in the trust is supposed to go to the woman, but she does not have the ability to manage those assets. She once had that ability but her husband’s modifications to the trust removed her from that role. She now hopes that legal proceedings will overturn that decision and allow her to return to that position.
It is not altogether uncommon for individuals to find problems during estate administration after a loved one’s death. When the issues seem substantial, there may be cause for legal action to take place to address concerns. Texas residents who believe that certain areas of their loved ones’ estates need to be more closely addressed may wish to consult with experienced attorneys to determine their best courses of action.
Source: orlandosentinel.com, “Battle over $43 million estate explodes in vitriol“, Lauren Ritchie, July 28, 2017