ESTATE LITIGATION
ROBIN AITKEN ESTATE LAWYER , COX AND PALMER
Protect Your Wealth :
Top 5 Estate Litigation Risks
Proper estate planning can ensure an efficient and seamless transition of your wealth and can save you money . When estate plans are not fully thought out or other situations arise after your will has been drafted , your estate can be subject to the risk of litigation .
The following are the top five estate litigation trends we see :
1 . JOINT ACCOUNTS AND PROPERTY WITH SOMEONE OTHER THAN A SPOUSE : Joint accounts and real estate are deemed to be held on resulting trust for the estate of the deceased account holder / joint tenant and do not pass to the surviving joint account holder / joint tenant . This creates confusion as between the surviving account holder / joint tenant ( who may believe the funds / property to be his or hers alone ) and the other beneficiaries of the deceased person ’ s estate . This can be avoided by clearly indicating your intensions with respect to a joint asset .
2 . DEPENDANTS ’ CLAIMS AND SECOND MARRIAGES : Spouses and minor children are dependants and must be provided for by the estate of a deceased person . Willmakers who do not make adequate provision for their dependants risk litigation and having their wills overturned by the Court . Likewise , second marriages can cause will-makers to breach their duties to a dependant spouse when they leave their assets to their children from a prior relationship . If you are not leaving your estate to your spouse and children , you should seek advice on the risks and how to mitigate them .
3 . COMMON LAW SPOUSES : Common law spouses have the same rights as married spouses for all estaterelated purposes on PEI . When a person dies without a will , often family members don ’ t realize that the common law spouse is entitled to part or all of the deceased person ’ s estate and a dispute arises . If you are a common law spouse , make sure you are getting the right advice in making provisions for your spouse .
4 . A PERSON HOLDING A POWER OF ATTORNEY USES IT IMPROPERLY : Family members often sense that an individual who holds the power of attorney is using it improperly . If you are using a power of attorney document , make sure you know what your duties are and execute them properly .
5 . DELAY OR OTHER ACTIONS OF AN EXECUTOR : Beneficiaries often have questions about delays or other actions taken by an executor in distributing estate assets and want to know their rights . Choose your executor wisely . +
Robin Aitken • ( 902 ) 629 3910 raitken @ coxandpalmer . com
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