Singer and television personality Marie Osmond recently announced she would not be leaving her fortune to her children. Individuals are free to incorporate decisions to disinherit heirs, as Marie Osmond did, in their estate plans; however, this often leads to litigation after the individual passes away. Litigation over an estate can be particularly difficult and expensive because the person with the most direct knowledge about the estate – the decedent – is no longer alive to testify. What are some practical steps to avoid or mitigate the risk of litigation? Make Your Estate Plan Known A testator (individual making a will or providing a legacy) seeking to disinherit…
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Accelerating Estate Disputes: The Living Probate Option
North Carolina joins four other states in providing a path to ensure decedents’ assets are distributed according to their wishes upon death.[1] The North Carolina General Assembly recently enacted legislation amending statutes regarding estate administration by adding a procedure for “living probate.” This action is usually commenced by a testator – the author of a will – prior to his or her death where he or she anticipates a challenge to the will’s validity. The court can now declare a will is valid while the testator is alive, thereby preventing potentially more expensive litigation after the testator’s death, when he or she is unable to…
