We all hope that when we are gone, our family members will work together to settle our estate. Unfortunately, our office sees many estates where the testator created a Will filled with some common problems.
One of the most common problems we see is where a testator appoints all their children as their Executors. This is a mistake.
If your family members do not get along, they are not going to suddenly be able to get along and work together after your death. Arguments over how the estate should be dealt with often lead to months or years of family fighting and court applications that will result in an increase in your estate’s legal fees. Our office recently was hired to defend an Executor who had sold an older mobile home for $55,000.00. The other beneficiaries challenged in court the Executor’s accounting of the estate property. In the end, we successfully defended the Executor but all parties received a reduced inheritance after the legal fees were paid. Even worse, the hard feelings created by the legal battle was significant.
There are lots of things to consider when choosing your Executor and we understand it can be hard to choose which child should take this job on.
If you need help writing your Will and choosing your Executor, contact our office. Our experienced Estate Lawyers can outline the duties of an Executor and guide you in determining if you should choose one of your children, a family member or consider hiring a third party to handle your estate. We are here to help!