When Wilson Lucom died in 2006 at the age of 88, he left behind a considerable fortune of $50 million. Prior to his death, he had signed into a will that split up his assets as he saw fit – leaving a monthly allowance of $20,000 to his wife, along with the right to their marital home. He also left behind bequests to his wife's children as he himself did not have any direct heirs. The majority, however, of the fortune was to be set up into a trust fund to benefit needy children of Panama.

Due to the appreciated value of the real estate that composed a significant portion of his fortune, it is not estimated at three times the initial value – a staggering $150 million. Despite the generous amount bequeathed to her, Lucom's widow is now taking the case to court in an effort to walk away with more. It is being argued within this lawsuit that the lawyers in charge of creating the will coerced Lucom into signing so much over to charity as they were to be placed in charge of the trust.

Despite the fact that the Supreme Court of Panama upheld the will during her appeal, there are several different challenges that are being heard and the case is not currently pending. Lucom's attorney, however, is not content to simply wait for the resolution of the case. Instead, he is filing a lawsuit of his own – claiming that the widow, her children and others are currently working together in a conspiracy.

The best way to have avoided this entire situation? Had Lucom established a living trust and funded it during his lifetime, the entire probate process could have been avoided. While wills can be an essential tool, they can unfortunately lead to a lengthy and time-consuming process involving probate. A living trust could have allowed for a much easier route for Lucom's family and attorney. If you would like to learn more about how to handle wills, trusts and issues relating to probate, it is in your best interests to contact a probate lawyer in your area today.