It may be better to name one child as primary executor and the others as alternate executors as opposed to naming them all as co-executors. and may not apply to your case. A co-executor may take steps or actions required by the will or by probate without the other one (s) being involved--they don't have to always act jointly or as a group; BUT the co-executor is bound to follow both the law, the court rules, and the dictates of the will. Read more. In some cases, having co-executors can backfire and interfere with the effective administration of the estate. In cases where no contingent executor exists, the court steps in and appoints one. Providing you believe they can get along and cooperate, co-executors may be advantageous for the following reasons: There may be other reasons unique to your situation that would make having co-executors a good idea. We're available Mon-Fri 5 a.m. to 7 p.m. PT and weekends 7 a.m. to 4 p.m. PT. If one of the executors or administrators dies, resigns, or is removed, a co-executor or co-administrator of the estate shall proceed with the administration as if the death, resignation, or removal had not occurred. Our complete probate service gives executors the option of appointing us as your attorney. 1, eff. With a more complicated estate however, it can be beneficial to have more than one executor. It can be helpful for executors to share the burden, particularly if the winding-up takes many months and involves a large amount of correspondence. They may each have strengths that apply to certain aspects of the estate. Disagreements between executors, although sometimes unavoidable, can cause worry, upset and uncertainty. If probate isnt required to deal with the assets in the estate, banks, investment companies and other asset holders may still insist that all the named executors in the will sign their closure forms. If probate is needed, the Court can in some cases agree that it would be better for the estate to go ahead with the application without notifying a co-executor. Co-independent executors are most commonly named by parents of multiple children who wish to not cause additional complications after death through resentment of who is chosen to be executor of the will. It can be difficult to say whether it is easier or harder to have a co-executor administer an estate administration with you, but it does make things different. If the primary executor is unable or unwilling to perform their duties towards the estate, an alternate executor is then able to assume full responsibility of the estate without contest. Any information you provide to Cake, and all communications between you and Cake, We are not a law firm and do not provide legal advice. And of course this could also lead to bad feelings between family members that could last for years or even a lifetime. What is Involved. Having more than one executor makes the probate process much less efficient. Co-executors may each have strengths that apply to certain aspects of the estate. not LegalZoom, and have not been evaluated by LegalZoom for accuracy, 12 Things That Are Wrong with Your Last Will, Estate Planning: 11 Things to Do Before You Die, Assure that the estate is distributed to the appropriate heirs, as set forth in the will. Now you can focus on leaving a legacy instead of a mess. Sec. They should also be someone you believe has the ability to handle the duties of an executor, who needs to be able to communicate effectively with the court, the creditors of the estate, the heirs, and any attorneys, accountants, realtors, or other professionals needed to assist with the estate. For example, you might name your spouse as a co-executor for the sole purpose of making decisions relevant to your estate that will affect your minor children. Each Co-Executor named in your Last Will and Testament will have authority over your estate, and therefore must collaborate and work together to ensure your estate is settled in accordance with your wishes. LegalZoom provides access to independent attorneys and self-service tools. Our probate specialists are here to help and can offer you a free, no obligation quote over the phone. Can co-executors act independently BC? Can joint executors act independently? This does not always end up so well, as it can lead to a decision that the other co-executor does not approve. The reasons for making the application will need to be compelling if its going to be successful. Don't make these common mistakes when writing your last will. Michael S. Haber is a New York attorney. The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter. This link will open in a new window. If so, consider the appointment of an independent co-executor such as the will-maker's accountant (bear in mind that professional executors will charge for their services and non-beneficiary executors [whether professionals or not] are likely to claim commission). But, they reserve the right to apply for probate at a future date, should they later decide that theyd like to be involved. You can provide that your co-executors must act together or that each may act independently of the others. 6. A trust (and other legal documents such as a Power of Attorney), may allow successor co-trustees to act in concert and exercise their powers jointly, or it may be written to allow either co-trustee to act independently. They can also delay the administration of an estate. Appointing co-executors is always an option. In fact, co-executors have even greater duties than an individual executor because co-executors are responsible for the actions of the other co-executors. Itll be too late for them to renounce and they wont be able to receive a Notice of Power Reserved from another executor, as theyll lack the necessary capacity to understand what this is. TITLE 2. Albert Goodwin, Esq. The short answer is, yes, you can legally name co-executors for your will. The law sees each co-executor as one entity, so if one co-executor acts on duty or makes a decision, it reflects as if all did the action. 4610 Sweetwater Blvd #200, experienced estate planning or probate attorney. Use of our products and services are governed by our An executor's deed should be recorded in the real estate records of the county in which . An unmarried person with adult children often names an adult child as the primary executor. If a co-executor is happy to take a step back and not be actively involved in the estate there are options available to them. This means that: . Because co-executors must agree and act together, naming multiple executors can. All co-executors will have to abide by the judges decision. Facebook. You know having a last will is importantit protects your family and provides for your final wishes. Therefore, wills frequently set out a 'majority rule' standard for decision making. We provide probate, wills and funerals with a difference, and so far we've helped over 60,000 families in the UK. However, you may not want your investment manager to be responsible for decisions involving the care of your dependent children. Our mission is to provide an exceptional team that delivers creative, value driven solutions for your complex legal problems. Certain situations require multiple executors at all times. In Virginia, a nonresident executor must appoint someone who lives in the state to act as an agent. The other executor(s) would need to send a Notice of Power Reserved to the minor executor. The content is You must both apply to Probate the Will together. M, ultiple opinions can lead to conflict between or among co-executors, Resolving conflict between or among co-executors can cause delays in the probate process, Often, each co-executor is responsible for executing legal documents involving the transfer of property; acquiring numerous signatures also can cause delay, If co-executors are named for the wrong reasons, such as to be fair or to avoid tension among siblings, there may be someone appointed who is not particularly competent to serve in this capacity, which may cause conflict or dissention among the other co-executors or the beneficiaries, If the co-executors believe that there is an impasse with another co-executor, they may seek the advice of. One of the executors is the residuary beneficiary of the estate. For all practical purposes those three things are the same but the key is the word "CO." Co as in two or joint or together. If you have any questions, please contact me directly. Co-Executors Need To Work Together To Avoid Conflict Basically, neither of you may act independently of the other. Whats a Co-Executor of a Will or Estate? 7 Tips for Getting Rid of Your Parents' Lifelong Possessions, Notifying the decedent's heirs and creditors of the probate, Managing and preserving the assets of the estate, Assuring that the estate is distributed to the appropriate heirs, as required by the will. Who's the next of kin in case of inheritance? 6-3. There are advantages and disadvantages to naming co-executors of your estate rather than just one executor. (a) Except as provided by Subsection (b), if there is more than one executor or administrator of an estate at the same time, the acts of one of the executors or administrators in that capacity are valid as if all the executors or administrators had acted jointly. One of the main reasons for naming more than one executor is in case someone is unable or unwilling to act when the time arises. 680 (H.B. It's a good idea to try and get the SRA to confirm this in writing if possible. Terms of Use and Whether a living trust is better for you than a will depends on whether the additional options it provides are worth the cost. If a co-executor is under the age of 18 years at the date of death, they wont be able to act in the estate and wont be permitted to apply for a grant of probate. The logistics of all this alone are bad enough, and then there are so many opportunities for disagreements on how things should actually be done. Co-Executors are supposed to make decisions jointly regarding the Estate assets. Your will can name two or more co-executors. It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. In practice, two executors acting independently of each other is a bad very idea . But there may be specific duties that the executor will have to carry out, such as investing assets or running a business, for which the surviving spouse is simply not well-suited. It may be that co-executors dont want to step away from the estate administration, but they cant see a way of communicating and working together. The other executors will need to put together evidence and they should seek professional advice from a contentious probate expert. If the will names co-executors, it is important to know that: Both executors must sign the initial petition with the probate court. If you designate three or more co-executors, you can allow action to be taken by a majority vote. But, the Court will only agree to do this once every possible search has been exhausted and in very exceptional circumstances. The short answer is, yes, you can legally name co-executors for your will. That said, sometimes it makes sense to name two executors. What Happens If There Are Problems With a Co-Executor? Here are several types of assets that qualify as non-probate assets. Co-executors act together, not separately. Clients often ask me if they can name co-executors for their will. Copyright 2008-2023 There are advantages and disadvantages to having co-executors manage your estate. Virginia Restrictions on Out-of-State Executors. 718-509-9774 email. (a) Within 30 days after a person acquires knowledge that he is named as executor of the will of a deceased person, he shall either institute a proceeding to have the will admitted to probate in the court of the proper county or declare his refusal to act as executor. LegalZoom.com, Inc. All rights reserved. Paying Bills in the Wrong Order The executor of a deceased person's estate is a fiduciary, someone legally and ethically bound to manage assets in the best interests of another party. The fees for the advice of an attorney should not be compared to the fees of do-it-yourself online If none of the executors can be located, then it will be the responsibility of the people benefiting from the will (the beneficiaries). What if one co-executor wants to sell a piece of real estate in your estate to a third party in order to get the most money for it while the other thinks it should be kept in the family somehow even if thats not likely the best financial decision? This does not always end up so well, as it can lead to a decision that the other co-executor does not approve. TPC 112.008. They must act with: Trust Diligence Good Faith Honesty "Taking everything" in an estate can not be done unless the Testator made the Executor the sole beneficiary. If the Will creates a trust, then a sole executor is advised to take legal advice in respect of the appointment of trustees. Having more than two co-executors can cause increased conflicts, as there must be a unanimous decision made among all executors regarding the estate. Unfortunately, many people name co-executors in their will just to be fair or to avoid hurting someones feelings by being left out.. But just because the law lets you create co-agents doesn't . Generally, that means they must work together unless the will grants the power to act independent of each other. To avoid this, you must give careful consideration to the potential needs of your estate and decide whether co-executors may be necessary to satisfy those needs. It is not then possible for a joint or co-executor to act alone in the estate administration unless the other executor (s) give their agreement. For example, a married person may name their spouse as the executor of their estate. Under Georgia law, those two co-executors must now act as one. Usage of any form or other service on our website is This applies to all aspects of the probate process. If the person who died made some large gifts in their lifetime, there may be disagreements between executors later. 307.001. This also eliminates the need to be in close proximity to one another in order to sign paperwork and checks on behalf of the estate. Our expert guidance can make your life a little easier during this time. Having co-executors means having a partnership. Yes and no. ELM Legal Services can provide this service if required. It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. A co-executor has the same duties as a single executor, primarily to: In addition, a co-executor has the duty to assure that any other co-executors fulfill their duties. If you are unable to find suitable candidates, it is possible to appoint a professional executor to act. If your estate includes several investment funds and you have an investment manager at your local bank whom you trust, it may be prudent to name that person as a co-executor to handle the details regarding your investments. Texas statutes clarify that the settlor or a beneficiary can be a co-trustee. An executor is responsible for managing the estate. If one of the executors wishes to act alone, they must first get the consent of the other executors. Joint Executors will need to resolve these disputes and act in agreement in order for Probate to move forward. of the estate rather than distributing them to the beneficiaries; if theyve been convicted of a crime and are in prison; if theyre unable to carry out their responsibilities due to a physical or mental disability; if theyve caused unnecessarily, significant, long delays; if theyve neglected to take proper care of assets, such as the property of the person who died. The law sees each co-executor as one entity, so if one co-executor acts on duty or makes a decision, it reflects as if all did the action. If youre thinking about making a will and appointing joint executors, weve written a helpful guide. And in other ways this creates lots of opportunities for disagreements and hard feelings between the co-executors, because it is rare when two people are completely in agreement as to how, when and where things should be done. Alternatively, call or send us an email using the details below. Privacy Policy. Disputes can also arise when personal belongings are being valued and distributed. We are not attorneys and are not providing you with legal If a person named as executor in the will of a decedent, or nominated as an executor by holders of a power as described in section 2107.65 of the Revised Code, refuses to accept the trust, or, if after being served notice for that purpose, neglects to appear and accept, or if the person named or nominated as executor neglects for twenty days . In most states, an executor's deed must be signed by a witness and notarized. We offer both an essential probate service, where we help you get the legal document, and also a complete probate service, also known as full estate administration. Still, probate doesn't have to be a scary process. You also may limit the duties of each co-executor by expressly identifying in the will which specific duties each co-executor will be responsible for carrying out. Some benefits associated with designating co-executors include: Having more than one executor can lead to conflict between co-executors. If you are an executor who needs representation in an estate matter, we at the Law Offices of Albert Goodwin are here for you. Having co-executors can provide some degree of "checks and balances" through which each co-executor may exercise oversight of the others With that said, here are some of the disadvantages associated with naming co-executors to your estate: Having co-executors means having multiple opinions about estate issues. An executor also need to be able to keep and organize adequate records, including court papers and accounting documents. The reason they usually ask is that they dont want to hurt the feelings of one of their children who could have been chosen as an executor. We are not a law firm and do not provide legal advice. It is not then possible for a joint or co-executor to act alone in the estate administration unless the other executor(s) give their agreement. JOINT EXECUTORS OR ADMINISTRATORS. This portion of the site is for informational purposes only. Can two executors act independently? completeness, or changes in the law. (a) Except as provided by Subsection (b), if there is more than one executor or administrator of an estate at the same time, the acts of one of the executors or administrators in that capacity are valid as if all the executors or administrators had acted jointly. When a will has multiple executors, they are called co-executors. RIGHTS OF GOOD FAITH PURCHASERS. In some cases, however, simply trusting your executor may not be enough to feel confident that your estate will be handled properly when you die. by Keith Hajovsky | Apr 13, 2022 | Estate Administration, General Estate Planning, Probate, Wills. Most lawyers advise that one executor is best, as it avoids potential disputes, but there are situations where it may make sense to appoint co-executors. 110 1/2, par. What does it mean to act as an executor? Open probate proceedings by filing the decedents will in court, Identify, collect, and manage all the assets of the estate, Pay all the debts and taxes owed by the estate, Distribute property according to the will of the decedent, Obtain the approval of the court to close the estate, If one co-executor dies or is removed during, Co-executors can share the responsibilities for the estate and seek each others advice before making decisions that affect the estate, If each co-executor has specific skills to contribute, such as investing, real estate, or a personal history with the family, their responsibilities can be limited to suit their skills, Having co-executors can provide some degree of checks and balances through which each co-executor may exercise oversight of the others, Having co-executors means having multiple opinions about estate issues. attorney-client relationship. Co-Executors do not share partial authority over the estate; each person you name as an Executor has complete authority over the estate. Appointing two executors who have conflicting interestsor who can't stand each otheris a sure way to complicate the probate process and increase the chances of litigation over the estate. A co-executor can be removed while the other executors remain. Full Powers Are a Must Technically, in California all actions you take as an Executor require Court approval, especially selling real estate. Lasting and enduring powers of attorney are legal documents that give authority for people to act on behalf of someone else. Added by Acts 2009, 81st Leg., R.S., Ch. Documents to transfer property and to be filed with the court may require the signature of all co-executors. Although this may spare some hurt feelings initially, this is usually the wrong reason to name a co-executor in your will. It could also be the case that executors dont agree on the value of the property - perhaps one executor wishes to undervalue it to get a quick sale, whereas the other(s) would like to hold-off on the sale and do some development work to try and increase the property value.