What Rights Do Heirs Have?

During the estate planning process, you and your loved ones are bound to hear a lot of new terms. Two of the most commonly used – And confused – Are beneficiary and heir. Beneficiaries are individuals with the legal right to the benefits of an agreement. According to the will, the beneficiaries listed in a will have the right to receive assets from the estate. Similarly, trust beneficiaries are those listed as receiving the benefits of the trust. However, you are entitled to more than receiving payments and assets as a beneficiary. Florida State law grants special protections and privileges to beneficiaries.

Are Beneficiaries the Same Thing as an Heir?

People often say that beneficiaries “inherit” assets. Inheritance – And heirs, as a result – Are terms involved with intestate succession laws. This means that somebody who dies without a will leaves wealth to those in order of succession. While an heir is usually related to the decedent, this isn’t always true for beneficiaries.

What Rights do Beneficiaries and Heirs Have?

In this article, we’ll be using the word beneficiary. It would help if you understood that heirs have the same rights, except for anything that mentions a will. This is because inheritance is a separate process from executing a will. An heir and a beneficiary both enjoy crucial informational rights and rights of disclosure. As the estate proceedings advance, beneficiaries must be informed whenever certain events occur. Whenever an estate opens, it must notify beneficiaries and appoint a personal representative to act for the estate. They are also entitled to any information about probate proceedings or litigation.

Beneficiaries of a Will

There are five especially important rights for the beneficiaries of a will:
1) You are entitled to a copy of the will. The estate will surrender the original to the court within ten days of the death notice.
2) You are entitled to a Notice of Administration from the Estate’s Personal Representative. This provides both information and a 90 day period during which you can object to the will.
3) You are entitled to an inventory of the safe deposit box where any assets are stored.
4) In the same spirit, you have a right to inventory the entire estate. This inventory is filed within 60 days of the representative’s appointment.
5) You also have the right to receive a thorough, detailed account filing from the Personal Representative.
You have many more rights than this, but these are often some of the most useful to keep in mind.

Your rights as a beneficiary in a trust are similar but mostly come down to the trustee’s responsibilities. They are required to act in good faith, with loyalty, and to the benefit only of the beneficiaries. What do you do if an executor won’t talk to you? What if your trustee mishandled an asset? In any of these cases, if you feel that you are being denied information, you likely have grounds to contest the will, trust, or inheritance.

In these situations you must contact an experienced estate planning attorney like the pros at Dowd Law. You will likely have to contest the proceedings in court. Your chances of success increase with the help of an experienced attorney.