The short answer is usually no. When you and someone else are named as co-executors in a Will, that essentially means that you must execute the Will together. Examples of situations where the Court may remove an executor include: if theyve been personally cashing in the assets. A bond may be required unless your executor serves with a resident coexecutor. If a single executor is named in a Will, there is a risk that they may die first, or over time may lose mental capacity. Depending on the nature of your estate, appointing one person to handle all the duties of the executor may not be the best choice. Can joint executors act independently? We are not a law firm and do not provide legal advice. 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. For unmarried folks, it is often an adult child or a close friend. Co-executors are legally required to work together, It might be that a co-executor doesnt want to be involved, There are situations where a co-executor will be unable to act, When disagreements arise between co-executors. When someone is named as the executor of a will they become responsible for performing a series of duties in order to complete the probate process. Co-executors should not be independent and the attorney should be in the loop. We have offices in New York, NY, Brooklyn, NY and Queens, NY. It isnt legally possible for one of the co-executors to act without the knowledge or approval of the others. 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. While the above scenarios demonstrate how naming co-executors can make estate administration easier, the unfortunate reality is that probate often becomes much more complex and stressful if the named co-executors do not cooperate or live near one another. For married people, that trusted person is usually their spouse. attorney-client relationship. There isnt anything further that they need to do. However, you can name a secondary or contingent co-executor in your will to take the place of the former co-executor if this should occur. Having more than two co-executors can cause increased conflicts, as there must be a unanimous decision made among all executors regarding the estate. Read more. The acts of any one of them in respect of the administration of the estate are deemed to be acts of all. This will be the responsibility of the other named executors. Co-executors may each have strengths that apply to certain aspects of the estate. Edward A. Haman is a freelance writer, who is the author of numerous self-help legal books. People may disagree on whether these were true gifts or whether they were intended to be loans. Co-executors will need to work together to deal with the estate of the person who has died. For example, a parent with three adult children might name all three children as co-executors because they dont want to leave anyone out or make anyone feel that they favor one child over the others. This portion of the site is for informational purposes only. Although this may spare some hurt feelings initially, this is usually the wrong reason to name a co-executor in your will. Whether a living trust is better for you than a will depends on whether the additional options it provides are worth the cost. When multiple Executors act together on the administration of an Estate, disagreements can sometimes arise. If you have any questions, please contact me directly. Knowing what probate actually involves will help ease your fears about the process, one that isn't always as complex as you might think. Generally, that means they must work together unless the will grants the power to act independent of each other. Each co-executor will be responsible for the actions of the other co-executors. 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. The only circumstances in which jointly appointed Executors can act alone is if the other Executor(s) formally step down from their role. If there are two Executors appointed and the Will is held by Joan's solicitors, those solicitors are not permitted to release the original Will to one Executor unless the other agrees. In that case, you may want to limit the investment managers duties to your investment assets and let your spouse handle the personal matters of your estate. By drafting a living trust, designating beneficiaries, and holding property jointly, you may be able to avoid probate. Judicial Accounting in New York. There are advantages and disadvantages to having co-executors manage your estate. This applies to all aspects of the probate process. (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. Appointing co-executors is always an option. 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. Certain situations require multiple executors at all times. Ensure your loved ones and property are protected, Property you should not include in your last will. That executor (the residuary beneficiary) wants to see the particular assets sold, but the other is stalling, and not agreeing to any steps being taken. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY, SUBTITLE G. INITIAL APPOINTMENT OF PERSONAL REPRESENTATIVE AND OPENING OF ADMINISTRATION, CHAPTER 307. Alternatively, the court may appoint someone to serve as a new co-executor. 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 may include closing bank accounts, paying off any debts, and selling or transferring property so they can share everything out between the beneficiaries of the will. In 2017 the Texas legislature passed the Texas Durable Power of Attorney Act which specifically addressed the ability to name co-agents in a power of attorney document. Why Do People Choose to Have a Co-Executor? 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. Like most executors, you are probably eager to do a good job and to take care of estate business in a timely fashion. Or perhaps they have children who dont get along well, and they think that naming both of these children as executors will help remedy the situation to at least some degree when the will is probated. 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. Sometimes co-executors may work fine with each other but may have difficulty working with one or more beneficiaries. Use of our products and services are governed by our Can joint executors act independently? or otherwise a professional genealogist company. They must have the agreement of all the executors in order to progress probate. The court can direct the co-executors to act in whatever way it deems best for the estate and the beneficiaries. With careful planning, probate can sometimes be avoided. Probate follows the terms of a will as well as state law. If they don't live near each other, this can cause delays in transmitting documents back and forth for signatures. Of course, this usually involves selecting co-executors who don't fully trust each other, which can also increase the likelihood of conflict between them. Co-executors, on the other hand, are all primary executors who share the responsibility of managing the estate. This link will open in a new window. And of course this could also lead to bad feelings between family members that could last for years or even a lifetime. Joint executors can act independently, provided they have the agreement of other executors to do so. Co-Executors are supposed to make decisions jointly regarding the Estate assets. Some siblings get along very well, whereas in other families there are varying degrees of conflict. This can add lots more time and legal fees to the whole probate process. One co-executor can make decisions in the estate. Quite frankly, although you may think that naming co-executors will help take care of a difficult choice or problem, in many ways this often creates more possibilities for difficulties and failures than anything else. 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. Making your living trust will be easier if you think it through and gather necessary information before you sit down to do it. LegalZoom.com, Inc. All rights reserved. Too Slow? If the beneficiaries determine that a co-executor is not satisfying their responsibilities or is not acting properly with respect to their interests, they also may motion the court to remove the co-executor. We cannot give you customized advice on your situation or needs, which would require the service
Fairness, Security, and Competence. If the other executor(s) are happy for one person to act solely, then they can either be served with a Notice of Power Reserved (meaning they can take up the position later on should they choose to), or they can renounce their powers completely. Whats a Co-Executor of a Will or Estate? They reason that if they choose one child to serve as an executor and not another, this might cause disharmony. Yes. Because a power of attorney is one of the most important legal documents you can have, it's important to know whether you want a durable or regular power of attorney. Corporate trustees are allowed so long as they can exercise trust powers in Texas. For example, your will can designate three co-executors and provide that decisions be made by a majority vote, that all co-executors must take action together, or that any one of them has authority to act alone. This does not always end up so well, as it can lead to a decision that the other co-executor does not approve. A persons will typically names one individual as the executor, meaning that they have complete control over the estate and any proceedings that follow as part of the probate process. 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. Estate Planning: 11 Things to Do Before You Die. An executor is responsible for the entire estate by themselves. This would authorise their attorney to act on their joint behalf to apply for probate (if needed) and deal with the estate administration. Unlike co-executors, primary executors and alternate executors are not required to work together on matters of the estateit is solely the responsibility of the named executor to oversee the estate unless they are no longer able to. not legal advice. These duties are: Making decisions regarding these duties is the responsibility of all co-executors. . Call us today at (281) 242-0995 or fill out ouronline contact formto schedule a free consultation. 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. For married people, that trusted person is usually their spouse. It is always favorable that co-executors work together to achieve a positive result in executing the duties of the estate. But before you can decide who might be the best person to handle the specific duties of a co-executor, you must understand what the duties of a co-executor are. Co-Executors are two or more people who are named as Executors of your Will. Having more than two co-executors can cause increased conflicts, as there must be a unanimous decision made among all executors regarding the estate. 300 Cadman Plaza W At Farewill we're making everything to do with death easier, friendlier and more affordable. Our mission is to provide an exceptional team that delivers creative, value driven solutions for your complex legal problems. If one co-executor disagrees with the decision of the other co-executor, then action cannot be taken until the conflict is resolved and both parties are in agreeance. They would need to hire a lawyer together, go to the probate court together, sign all checks and any other documentation for the estate together, make decisions on real estate together, etc. 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. This is one of the main reasons we don't recommend a co-executor designation. We'll help you get your affairs in order and make sure nothing is left out. Tel. Can two executors act independently? If the person who died made some large gifts in their lifetime, there may be disagreements between executors later. When communication between co-executors severely breaks down, it can take time and money to fix the relationship. LegalZoom.com, Inc. All rights reserved. However, when you first petition the court to act as Executor, you can ask for full powers under the Independent Administration of Estates Act. The other executor(s) would need to send a Notice of Power Reserved to the minor executor. For more assistance with choosing who will handle your estate after you pass, you may wish to consult with an attorney or with a probate specialist. (a) This section applies only to an act performed by a qualified executor or administrator in that capacity and in conformity with the law and the executor's or administrator's authority. The 'next of kin' concept isn't complicated, but it does vary by state and also determines who inherits if you die without a will. ELM Legal Services can provide this service if required. 680 (H.B. You want to make sure you have all your assets covered, but did you know that not all property can be bequeathed through a last will and testament? One executor cannot move forward without the other's cooperation. Documents to transfer property and to be filed with the court may require the signature of all co-executors. Copyright 2023 Romano & Sumner Law Firm. This can lead to conflict and animosity between or among the co-executors, and can delay the probate process and undermine the purpose of naming an executor at all. Disputes can also arise when personal belongings are being valued and distributed. Albert Goodwin, Esq. Top 5 Must Dos Before You Write a Living Trust. In these situations, an executor cannot act independently. In this case, it may be prudent to name a co-executor who is qualified to fulfill these specific duties. At other times, though, some executors might want to be involved, and they might have disagreements. In some ways this creates twice the work. That said, sometimes it makes sense to name two executors. Report Abuse PC Basically, neither of you may act independently of the other. Most married people name their spouse as executor and an adult child as a contingent executor. Now that you're finally sitting down to write that will, be on the lookout for these common but easy-to-avoid mistakes. They have a joint and entire authority over the whole property which is committed to their care. 307.001. attorneyalbertgoodwin@gmail.com, Albert Goodwin, Esq. Usage of any form or other service on our website is
If you are unable to find suitable candidates, it is possible to appoint a professional executor to act. You will ultimately encounter lawsuits and claims against the estate if the two of you don't find common ground. Or what if one co-executor starts feeling like they are doing way more than their share of the work while the other one thinks the opposite? Can joint executors act independently? Use of our products and services are governed by our What Happens If There Are Problems With a Co-Executor? 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. 307.002. Instagram. You must both apply to Probate the Will together. Can I start the estate process without them? If you are an executor who needs representation in an estate matter, we at the Law Offices of Albert Goodwin are here for you. We are not your attorney, So, before you start naming co-executors in your will, you should understand the reasons why you might want to have them. Getting an Executor to Distribute the Estate, Defending Executors from Disqualification and Removal. If you have a business, it may be good to have a co-executor who understands business matters. If only one coexecutor is signing these documents, then they are putting themselves, the other co-executor and the estate at . It is essential to understand the rights and responsibilities you possess when you are named a co-executor on a will in New York City. If you are selecting co-executors, particularly if they are siblings, it is important to evaluate their ability to collaborate in exercising their duties. The primary duties of any executor are to: If you name co-executors, each of the individual co-executors will be equally responsible for fulfilling all of these duties. There are three ways that a co-executor can be removed: Whether to appoint an executor, co-executor, or contingent executor is an important part of the will-making process. The content is Co-executors will need to work together to deal with the estate of the person who has died. Determining whether an estate has assets that are not subject to probate can save you time and money. It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. If probate is needed, a medical certificate confirming that the executor has lost capacity may need to be submitted by the other acting executors to the Probate Registry, alongside the grant application. You want to make sure you have all your assets covered, but did you know that not all property can be bequeathed through a last will and testament? If the Will creates a trust, then a sole executor is advised to take legal advice in respect of the appointment of trustees. It is always recommended that a second executor be appointed in the case of a more complicated estate. Hiring an experienced estate planning or probate attorney to discuss your options may be in your best interests, depending on your situation. RIGHTS OF GOOD FAITH PURCHASERS. A co-executor of a will or estate is someone you name in your will to share the duties of administering the estate with another person (another co-executor). In most states, an executor's deed must be signed by a witness and notarized. If you have a business, it may be more efficient to have a co-executor who understands business matters. They all hold the same authority over the estate. 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. Here are several types of assets that qualify as non-probate assets. The form even gives you the ability to say whether the agents can act independently or if they must act together. An executor's deed should be recorded in the real estate records of the county in which . This means that: . But, the Court will only agree to do this once every possible search has been exhausted and in very exceptional circumstances. 5. 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? Acting without the consent of other co-executors can end up in a conflict, which can end result in litigation and possibly in the court reversing a co-executors decision. Powers of executor before qualification. You can provide that your co-executors must act together or that each may act independently of the others. One co-executor can make decisions in the estate. unless you hired us. Well, not always. 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. Sec. You can name as many co-executors as you wish. An executor, called personal representative in Maryland, has an important role in the estate administration process. 12 Things That Are Wrong with Your Last Will. Some benefits associated with designating co-executors include: Having more than one executor can lead to conflict between co-executors. Choosing an executor is an important part of executing a will. You must both sign checks and title transfers together. Whether you are writing your first will or are revising the terms of one already written, it is worth exploring your options of naming co-executors to manage your estate after you have passed. We're available Mon-Fri 5 a.m. to 7 p.m. PT and weekends 7 a.m. to 4 p.m. PT. Other individuals can be a co-trustee; there is no felon limitation like there is for executors. In these situations, it may be possible for the other executor(s) to apply to the Court to have them removed. The content is Executors need to be able to work with each other to find a way through things they disagree on. Co-Executors are two or more people who are named as Executors of your Will. The other executors will need to put together evidence and they should seek professional advice from a contentious probate expert. Co-executors will need to work together to deal with the estate of the person who has died. 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. An executor is responsible for managing the estate.