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Anita

executor

4 posts in this topic

20 hours ago, Anita said:

Is it possible to name two executors with the understanding they are to work amicably together in carrying out our wishes?

 

Yes.  However, there are significant potential downsides to having co-executors (especially having an even number).  Obviously, the intent will be that they work amicably together, but conflicts often arise.  What happens if one co-executor wants to do X and the other wants to do Y?  If they can't agree (even if they are amicable in their disagreement), they may have to have the court break the tie, which may incur fees paid from the estate.  I had a situation once in which I was co-executor and the other co-executor died during the administration of the estate.  It wasn't a huge problem, but it had to be dealt with.  If you're considering nominating multiple executors, please consider discussing the pros and cons with a local attorney.

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It can occur that the two executors insist any check written out of the estate checking account be signed by both.  This is because both are liable for any improper use of the estate funds.  As a result there can be unnecessary delay in routine matters and even deadlock on some issues.  I always recommend against it.

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