Some estate disputes revolve around items that have significant monetary value. For instance, with the way the housing market has gone in the last decade, parents could own a home that is now worth millions of dollars. The children may dispute who gets to keep that home after they pass away, especially if the estate plan isn’t clear.
Even if multiple beneficiaries have an equal claim, they could sell the house. Three adult children could sell the home and each get over $1 million in proceeds, for example. Someone may not be thrilled with this outcome if they wanted to keep the house in the family, but it is feasible.
Sentimental items
Items that may have a relatively low monetary value but significant sentimental value often cause more problematic estate disputes than expensive items. Often, the siblings or beneficiaries are really just fighting over the sentimental value.
The items that they want may be things like a book collection, a set of dishes, a mother’s costume jewelry collection and homemade items. If so, it doesn’t make any sense to sell these them and divide the money. They simply don’t have that much financial value, and selling the items means that no one in the family gets to enjoy them and pass them on to future generations.
This type of estate dispute can often get very contentious. If you are involved in one with your family members and other beneficiaries this year, be sure you know what legal rights you have and what steps to take as you seek a fair resolution.