Planning For A Secure Future

Is your inheritance at risk in probate?

On Behalf of | Oct 29, 2024 | Estate Administration & Probate

As a beneficiary, waiting for your inheritance can be stressful. While most probate processes go smoothly, sometimes issues arise that could put your inheritance at risk. Here are some red flags to watch out for:

Lack of communication

If the executor is not keeping you informed about the probate process, it can cause concerns. You have the right to regular updates. If the executor is keeping you in the dark, something might be amiss.

Unexplained delays

Probate takes time, but excessive delays without clear reasons should raise eyebrows. If the process seems to drag on indefinitely, it could indicate mismanagement or hidden problems.

Unusual asset sales

Be wary if the executor is selling off assets that were meant to be distributed to beneficiaries. While some sales may be necessary to pay debts, excessive or unexplained sales are suspicious.

Executor’s lavish spending

If you notice the executor living beyond their means or using estate assets for personal benefit, it is a major red flag. The executor has a fiduciary duty to manage the estate responsibly.

Inconsistencies in financial reports

Pay attention to the estate’s financial reports. If numbers do not add up or there are unexplained expenses, it could signal mismanagement or even fraud.

Failure to pay creditors or taxes

If legitimate creditors or tax authorities are not being paid, it could lead to legal issues that threaten the estate’s assets.

Conflicts of interest

Be cautious if the executor seems to favor certain beneficiaries or make decisions that benefit themselves at the expense of others.

What you can do

If you spot these warning signs, do not panic, but do take action. Start by communicating your concerns to the executor. If that does not help, consider consulting with an estate attorney. Remember, as a beneficiary, you have rights. Do not be afraid to speak up if you think your inheritance is at risk. Prompt action can often resolve issues before they become major problems.