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Typically, a person’s Estate will determine how their possessions are divided after death. The “Executor” of the decedent estate is the individual in charge of allocating and overseeing these assets.
There are situations when a will names multiple executors, and to carry out the position’s responsibilities, these people typically need to collaborate. A deceased person’s estate management can lead to tension and arguments, just like any other difficult and sometimes sensitive duty. This is especially true in cases where there is a dispute between executors.
In this article, learn what happens when there is a dispute between executors, the types of disagreements between executors, how to avoid such disagreements, and how a legal counsel can help.
To handle the decedent’s Estate in Perth, role of executor of the will is obligated to apply for a Grant of Probate. After the grant is vested, they will have to manage the Estate in compliance with the conditions of the Will. Examples of frequent executors disagreements include:
The Importance of Hiring an estate administration lawyer in Perth is to assist with the Estate’s administration will first be responsible for attempting to settle the disagreement between the individual executors. Nevertheless, the lawyer is put in a confusing situation if they receive contradictory instructions from every executor, which means they are powerless to act until the matter is settled.
To resolve the executor dispute without incurring legal fees for each executor, if the executors agree, they could appoint a neutral third party to serve as a mediator. If mediation fails or an executor is unwilling to work with a third party, each executor would need to hire a separate lawyer to represent them in court.
This is not ideal because it can be expensive, difficult, and time-consuming to have numerous lawyers involved. It would be more sane for the executors to resolve the issue independently before obtaining legal counsel. The executors would have to petition the Supreme Court for an order to resolve the disputes and establish a clear plan of action if, despite everything, an agreement is still not reached.
As an alternative, just one executor might resign. This entails completing a few more paperwork filed with the court and referred to as “renouncing” the executorship. After that, only the surviving executor may continue requesting probate and managing the Estate.
Trying to settle a disagreement after it has solidified is much less effective than preventing a disagreement in the first place. To help avoid a disagreement, the following advice is provided to executors:
Being unbiased and working in the Estate’s best interests is your responsibility as an executor. You must avoid any conflicts of interest and make just and rational decisions. You may foster trust among the other executors and contribute to the dispute’s settlement by acting impartially.
Misunderstandings and disagreements may be avoided by accurately documenting every estate transaction. Ensure that all executors can access the correspondence, decisions, and financial transactions you maintain on file. By doing so, disagreements may be avoided, and everyone will be on the same page.
To address your worries concerning the appointment of your executors, contact an estate administration lawyer in Perth if you wish to draft a will but are worried about how your kids or other family members will handle it if they are named co-executors.
So, get in touch with Estate Planning Lawyers Perth if, as an executor of an estate, you are having trouble coming to a consensus with the other executors over how things should be done. We can protect your interests and help you settle the disagreements so the Estate can be concluded.