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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ESTATE LITIGATION
ROBIN AITKEN
ESTATE LAWYER,
COX AND PALMER
Protect Your Wealth:
Top 5 Estate Litigation Risks
P
roper 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
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