Many people in St. Charles, Missouri, may think estate planning is only for the wealthy, which, to say the least, is not true. In fact, the lack of a comprehensive estate plan often leads to probate disputes, most often among members of the deceased's family. Sadly, even with a sound estate plan, probate issues, which may lead to probate litigation, arise, especially if the estate's value is high.
Due to the widespread media awareness campaigns, many people in St. Charles, Missouri, have started paying serious attention to estate planning. Wills are being updated and trusts established, so that future generations can avoid probate court, where a number of complications may arise. In spite of such measures, probate disputes are common and huge estates are not passed on to intended heirs, but to government coffers through inheritance taxes.
Many people in Missouri may be fans of the immensely popular thriller writer, Tom Clancy. Clancy died in October 2013 at the age of 66 years and is survived by his wife and a daughter, in addition to four other grown children from a previous marriage. According to Clancy's estate plan, his wife is the beneficiary of two-thirds of his estimated $83 million fortune with the remaining amount being shared by his four other children.
As some Missouri residents would agree, the strongest of all familial ties is often between the siblings in the family. But, with matters related to probate, siblings often become rivals and, as a result, a number of probate disputes may arise. Sadly, many such probate disputes often lead to people washing dirty laundry in public and causing irreparable damage to familial ties. Interestingly, a large number of siblings involved in a probate dispute are in their fifties and sixties.
The unexpected death of a family member or loved one typically brings sorrow to relatives and close friends. For some families, though, there is also the pain of dealing with the properties and assets an adult may have left behind.