7. Conflict or Conflict of Interest
Even in situations where everything is spelled out in the will down to the smallest detail, there will be disagreements. It is inevitable.
As part of the human condition, people disagree. Even in the best of families, there will be questions of interpretation.
“That’s not what dad wanted…”
In some cases, a history of conflict will come to the surface. Anger, jealousy and revenge are part of human conflict.
Do you want to be caught between beneficiaries who, for years, have inflicted pain on each other?
Trying to carry out your duties as executor sounds noble. But can you remain neutral?
You may find that you are dragged through a three-year battle. Battling parties can both turn on you without justification and blame you for not preventing a war from the start.
Consider how many different hats you may be wearing. One hat may be as a beneficiary hoping to get the highest price for the real estate held by the estate. If you are also interested in being a buyer, you cannot self-deal and set the terms, price and payment details. Consider this conflict with your lawyer and decide which hat you can – and want to wear.Executors On: May 14th, 2020