Probate disputes can happen for many different reasons, and high-value assets can certainly trigger some of these disputes. A parent who is leaving $1 million to their children, but who has not divided things up evenly, may inadvertently cause an estate dispute as the children fight over how the money should have been divided. If they see it as a life-changing sum, emotions can certainly run high.
It is not just these high-value items that can cause conflicts among beneficiaries. In many cases, probate disputes revolve around items that have sentimental value. They may not have much financial value at all.
The complications this creates
The reason this often happens is that the death of a parent is generally an emotional time for the children. They are feeling nostalgic, and these items connect them to their past. Children can get into estate disputes over clothing, artwork, book collections, costume jewelry and things of this nature. Yet many people don’t include these items in their estate plan with designated beneficiaries.
These disputes are often complicated because everyone wants the same specific item. There is no way to divide that item and make everyone happy.
Additionally, if the item itself has little or no monetary value, heirs do not even have the option of selling that item and splitting up the earnings. They need to find a solution to who should receive the item if the deceased loved one didn’t codify their wishes – or worse, promised it to more than one person without listing it in their estate plan.
These types of disputes can become very complex. It is important for those involved to know what legal steps they can take at this time.