It’s a long story I’d rather not get into, so I’ve simplified it into a single long question…
Assuming a will is valid, but circumstances have changed dramatically since the time the will was written, and there was no opportunity for the person to re-write the will due to incapacity, is it possible to renegotiate the distribution of the proceeds of an estate with other beneficiaries?
Just wondering aloud if anyone’s been through this.
IANAL, but I have worked in development/fundraising. Contested wills are common, and outcomes vary province to province because of local laws.
If everyone is cooperative, in agreement, and works with the executor, then it’s not a complicated process. But then that’s likely not why you’re asking.
It’s costly because of lawyers and will drag on for years. A judge will ultimately determine how things get divvied up, or the lawyers will hash out a compromise.
The snag is that the beneficiaries are also executors, and are not on speaking terms due to prior nasty conflicts.
I suspect this will resort to making some lawyers rich, while neither beneficiary wins. The only way to win is for someone to cave in and walk away with something rather than nothing.
That’s probably true.
Another option might be to hire a professional executor. Or an arbitrator.
This is why it’s a bad idea to name all the beneficiaries as executors. (I know this doesn’t help OP.)