When a person leaves assets to his or her family members, there is always the chance that one or more of the family members may disagree with the distribution of the assets or feel slighted in some way. A dispute over a large inheritance has recently made the news as it has pitted a mother against her own son and stepson. Michigan families who are deciding the fate of assets and funds may want to follow the story as it unfolds.
An out-of-state woman is suing her son and stepson over the estate of her late husband who died in 2013. The estate is reported to be worth $91 million. Since the man died, the woman has been paid $20 million from the estate. The woman is seeking a detailed account of the estate through the courts.
The man’s two sons were appointed executors of the estate in question. They contend this move has been the source of the mother’s frustration over the inheritance. They also contend that the bulk of the money was given to the woman in the form of a trust.
Cases over an inheritance of this magnitude can be complex and lead to extensive litigation. An inheritance dispute can lead to the need for a court intervention that takes both a great deal of time and a great deal of money. If the distribution of an estate or an inheritance leads to a conflict between children and a parent, the help of an experienced estate planning attorney can prove most beneficial to Michigan residents.
Source: New York Post, “Socialite sues sons over $91M inheritance even after $20M payout“, Julia Marsh, Feb. 28, 2015