Contesting a Will
Panama City Probate Litigation Attorney
It is not uncommon for surviving family members and beneficiaries to have concerns about a will's validity, particularly if they believe that the testator/testatrix, or individual who created the will, was unable to properly voice his or her own intentions. In these cases, those concerned can pursue will contests. Unfortunately, mixing family members and money does not always lead to the happiest of endings. The work of an estate planning attorney is often rewarding, and protecting my clients from unnecessary litigation remains a high priority. While litigation can often be prevented by taking precautionary measures, not all litigation can be avoided.
When litigation arises regarding an estate plan, it usually takes one of two forms. It may be a challenge to the estate planning document itself such as whether a will should be admitted to probate, or it can have to do with the administration of an estate; for example, a beneficiary may argue that a personal representative has breached their fiduciary duty.
Will contests usually hinge on the contention that the testator/testatrix was not in a suitable state to sign a will, was the subject of undue influence or fraud, or that the signature at issue is a forgery. A person only has legal standing to contest a will if he or she is an interested party, meaning someone who has a direct economic interest in the estate and would be adversely affected if the will was admitted to probate.
The legal remedy for the dissatisfaction of a will is a will contest, in which case the contestants attempt to discredit the will on any number of grounds including:
- Lack of testamentary capacity
- Insane delusion
- Duress
- Fraud
- Undue influence
- Forgery
A successful will contest will typically result in invalidity of the entire last will and testament, resulting in intestacy or the reinstatement of an earlier will. It may result in the invalidity of a clause or gift, or the diminution of certain gifts resulting in an increase in others.
Contact McCord, P.A. for Competent Representation
While I strive to avoid probate litigation, not all litigation can be avoided. Whether you are a beneficiary or a personal representative, you need your situation handled by an experienced Panama City probate lawyer in an ethical and conscientious manner who will communicate well to all who are involved.
Facing a will contest? Contact me, Max W. McCord III, Attorney at Law for the professional legal representation your situation demands!
FREQUENTLY ASKED QUESTIONS
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What are some of the benefits of conducting business through a legal entity?
One of the most important benefits is the protection of your personal assets against the claims of creditors. Generally speaking, directors, officers, managers, members, and stockholders (the interested parties) are not held personally liable for the debts and obligations of the business entity. The interested parties should be limited in their personal liability to the amount invested in the company. Another legal benefit is the transferability of ownership, which can be done either in whole or in part. Also, some estate tax planning options are only available to business entities. Retirement funds, such as 401ks may be established more easily. Also, a business entity can acquire and establish its own credit rating.
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What are some of the mistakes people make when going into business?There are always risks involved in going into business. As most people know, a majority of small businesses do not succeed in the long run. Mistakes of new business owners may include the lack of a realistic business plan, underestimating costs and tax liabilities, and unfavorable business contracts/agreements. Even more problematic is a failure to understand the business or the marketplace, underestimating the competition, and/or not being effective at managing a business. Responsibility for these latter areas ultimately falls to the owners, but sound legal advice can substantially improve the chances of success.
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How can I be protected from liability claims that arise from my business?
Generally speaking, business owners doing business as limited liability companies, corporations, or limited partnerships do not have personal liability for the obligations or debts of the business. This assumes that no personal guarantees have been executed. If the business has been properly created, it is a separate legal entity. The details of formation are important, and the filing fees must be paid. If properly created and maintained, the assets owned by the business should be the only ones that are subject to debt or other liability considerations.