Family Settlement Agreements

Overview

A family settlement agreement is a way to settle an inheritance dispute.

The family settlement doctrine is applicable generally when there is a disagreement on the distribution of an estate and the beneficiaries enter into an agreement to resolve the controversy. Family settlement agreements are favored in law because they tend to put an end to family controversies by way of compromise.

Because the property becomes the heirs instantly, the family settlement doctrine permits the devisees to agree to divide the property as they wish without having to wait until after distribution through formal administration. The family settlement doctrine is applicable generally when there is a disagreement on the distribution of an estate and the beneficiaries enter into an agreement to resolve the controversy. Family settlement agreements are favored in law because they tend to put an end to family controversies by way of compromise. The settlement agreement can even be an agreement not to probate or follow a will. All have to agree.

A family settlement agreement is valid even if it defeats a testamentary trust.

And finally and probably most importantly, a family settlement agreement can successfully end a will contest or inheritance dispute.

Necessary Disclaimer: Do not take, or refrain from taking, any action based on what you read. You need to discuss your situation with an attorney who can advise you based on your facts.