A Co-executor is by definition are a bunch of people who work on an estate together. They share in the duties and responsibilites of the estate work. Co-Executors are to work together and be of one mind on all estate decisions. An exception to this rule, is where the will specifically says if the co-executors do not agree then a majority vote allows executors to act in a certain way.
Having all co-executors agree on anything is frequently impossible. This is to be expected when you have two or three different views on how a situation should be handled. The co-executors views (and their spouses views) may clash when they are grieving and suddenly having to deal with an estate and the stress of handling it. Many times co-executors cease to be able talk to each other or work together.
Unfortunately, many people who make their own will, think it is a good idea to put all their children as executors as they think this will be more fair. The end result is that the estate ends up being as bad as having no executor because everyone is in charge.
If you are writing your will consider placing one child as the executor instead of all your children jointly. This will avoid the increased costs associated with having multiple executors and avoid hard feelings in the future.
If you have questions or concerns about who to appoint as your executor, contact our office and speak to an experienced estate lawyer. Remember, we are here to help.
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
Sign up and we'll help you make plans that protect the people you care about most.