Though a considerable amount of time may have passed since a loved one’s death, surviving family and heirs could still face considerable estate-related issues. In some cases, estate administration may not be going as smoothly as hoped, and individuals in charge of the administration may not make decisions that surviving Texas family members feel are appropriate. As a result, serious issues could come about.
Though over a year and a half has gone by since the death of musical artist Prince, his estate is still going through choppy waters. It was recently reported that three heirs to the estate believe that the current administrator is costing the estate millions of dollars and making decisions that do not benefit the estate. As a result, the heirs have petitioned the probate judge to remove the administrator, Comerica Bank and Trust, from the position.
The judge is considering the petition, but at this time, the bank will continue to act as administrator. There are three other heirs who have apparently not weighed in on this issue. The three petitioners feel that the bank has not made efforts to protect estate assets as it should.
When estate administration issues come about, working to deal with those problems can be complicated affairs. Surviving loved ones often feel the need to ensure that the deceased’s estate is in the best hands possible, and legal action may be necessary to ensure that. If Texas residents feel that the administrators of their family members’ estates are not properly attending to their duties, they may wish to speak with knowledgeable legal counsel about how to address the issues.
Source: startribune.com, “3 Prince heirs demand new administrator for artist’s massive estate“, David Chanen, Oct. 30, 2017