Probate – Death of a loved one – When you are listed as beneficiary

When a person passes away there is usually a large amount of emotional stress and difficulty in the family. Once the first few days and weeks pass then the attention turns to the settling of the estate.  Many times there are questions about the settlement of accounts that have a listed beneficiary. Parents or loved ones may list a beneficiary and expect that person to distribute the assets evenly among others or they may want that beneficiary to have the assets entirely. It is good to have this decision in writing so there is no confusion with the other potential beneficiaries that might be involved in the estate settlement.  A person who is listed as a beneficiary generally has no responsibility to share the account assets and can be conflicted on whether or not the deceased loved one intended for them to have the assets entirely or to distribute the assets to other beneficiaries. If this confusion is not settled then a lot of friction can develop.  When it does, litigation usually results, pulling the family into a long drawn out affair in court proceedings that can last for many years. I have been in many and always have 3 or 4 cases where this exact situation is happening. The best way to avoid such a situation is to have some good estate planning and then to have some good conversations on what will happen in the days and weeks post death. For this to happen it’s best to work with a good attorney who can walk you through the problem areas.

Todd Courser  810-245-0813