Readers in Nevada may be interested to learn about a case that is currently being discussed in a court in another state. In that matter, which is a probate litigation, the family and friends of a deceased man are arguing over the validity of his last will. That document disinherited many potential heirs, some of who are now involved in the litigation.
The trustees of an estate recently ended up in court when they had to determine who should receive the money left in trust for the benefit of a school. The trust litigation that ensued after the death of the creator of the trust was ultimately decided by a probate court. Now, our readers in Nevada may be glad to learn that the intent of the person who made the trust will be followed.
As many in Nevada know, high asset estates sometimes end up in litigation despite a person's best efforts to avoid such conflict through estate planning. With large sums of money to be divided, beneficiaries of such estates may make great efforts to ensure that they receive the share to which they believe they are entitled. This may be the case in one probate litigation matter in which the beneficiaries of a massive estate are attempting to remove the trustees who are now managing the trusts that make up their inheritance.
There are many reasons that people in Las Vegas consider engaging in litigation during the probate process. Sometimes the amount of money or the method of distribution of assets cause probate conflicts. In other cases people may disagree with the actions of an executor and seek to have them removed from their duties. What many people may not consider, but which is an unfortunate reality for many families, is when there is the added component of the deceased having been murdered.
Nevada residents know that when celebrities pass away, there are often battles over their large estates. This was true after the death of child star Gary Coleman in 2010. Coleman became famous as a child when he played on the television show "Different Strokes." Now, his estate has remained the subject of litigation since nearly the day he passed away.
Probate litigation can be a means by which families ensure the intentions of a deceased loved one are carried out. Nevada residents may be interested to learn the heirs of the former owners of Belward Farm -- a Civil War-era farm -- have filed a lawsuit against Johns Hopkins University. The probate litigation centers on the terms of a 1989 agreement that transferred ownership of the farm, located in Maryland, to Johns Hopkins University. The heirs claim the agreement stipulates that the property be used only for "academic purposes, research or medical care". It is also stipulated that no more than 1.4 million square feet can be developed. However, it is believed by the property's heirs that Johns Hopkins' plan to develop 4.7 million-square-foot campus and science park on the property violates the terms of the agreement.
For many Nevada residents, probate litigation is a complicated and sometimes messy situation that is difficult to overcome. In a recent probate conflict, this issue has arisen for former Senator Mal Colston's son and the executor of the wills of the Senator and his wife. Mal Colston passed away in 2003 and left his wife, Dawn, as executor and trustee. However, Dawn passed away only 11 months after her husband and her death was before she completed the dispersal of her husband's will.
Recently, a story published in the Nevada Appeal offered advice and tips for people who may be involved in estate planning as it pertains to IRA's, as well as highlighted some current probate litigation issues. Some of the most beneficial directives highlighted facts that are normally brought to light during a probate case.