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What Are the Advantages of Using Will Co-Executors?

March 14, 2019

Filed under: Estate Planning — Neel Shah @ 9:15 am

Provided that you have selected co-executors or one or more individuals to serve in the same role can get along and cooperate, co-executors provide numerous benefits for the purpose of your estate planning. These include:

•               This can avoid making it seem as though one sibling is favorited above another.

•               If you are not sure that you can trust any individual person to serve as the executor, co-executors have a legal duty to one another to keep each other honest. Be aware, however, that co-executors who might not fully trust one another could increase the possibility of disputes and conflicts down the line.

•               The co-executors can divide up the work.

•               The co-executors may have one another for support and consultation if questions arise.

•               If you already have an established business, a co-executor who is familiar with business matters and management can work alongside another executor such as a spouse to ensure that you have addressed all major issues.

•               Each co-executor might bring their own unique talents that apply to certain respects of the estate.

Think carefully about whether two executors is the right choice for you.

Dying man signing his testament in the presence of notary

Only an attorney can help you understand whether or not it makes sense to use co-executors. Co-executors should be approached with caution, but the support of an experienced attorney is instrumental in helping you to determine your next course of action.     

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