You must both apply to Probate the Will together. The Court will consider the due and proper administration of the estate and the interests of the beneficiaries. 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. The reasons for making the application will need to be compelling if its going to be successful. The legal costs involved in making an application to remove an executor can be significant and whether this kind of action will be appropriate and proportionate will depend on the individual facts of the case and the value of the estate. Can I start the estate process without them? 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. To avoid this, you must give careful consideration to the potential needs of your estate and decide whether co-executors may be necessary to satisfy those needs. That is usually two siblings want to work together so they can share in the duties. Each co-executor will be responsible for the actions of the other co-executors. A court may also lower compensation based on any losses the estate suffered due to the executor's . Get the right guidance with an attorney by your side. Itll be too late for them to renounce and they wont be able to receive a Notice of Power Reserved from another executor, as theyll lack the necessary capacity to understand what this is. Michael S. Haber is a New York attorney. Having co-executors can provide some degree of "checks and balances" through which each co-executor may exercise oversight of the others With that said, here are some of the disadvantages associated with naming co-executors to your estate: Having co-executors means having multiple opinions about estate issues. If they cannot get an agreement, then they may need to seek legal help. Most married people name their spouse as executor and an adult child as a contingent executor. The court normally will not remove a co-executor at the request of the beneficiaries just because they dont get along. 6-3. All Rights Reserved. Co-Executors do not share partial authority over the estate; each person you name as an Executor has complete authority over the estate. Lasting and enduring powers of attorney are legal documents that give authority for people to act on behalf of someone else. 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. 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. Can joint executors act independently? completeness, or changes in the law. If so, consider the appointment of an independent co-executor such as the will-maker's accountant (bear in mind that professional executors will charge for their services and non-beneficiary executors [whether professionals or not] are likely to claim commission). 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). is an important part of executing a will. But just because the law lets you create co-agents doesn't . The amount varies depending on the situation, but the executor is always paid out of the probate estate. The court can direct the co-executors to act in whatever way it deems best for the estate and the beneficiaries. Therefore, wills frequently set out a 'majority rule' standard for decision making. An executor also need to be able to keep and organize adequate records, including court papers and accounting documents. Tel. Theyve confirmed that theyre happy for their co-executor(s) to act on their own. A co-executors duties are the same as the duties of an individual executor. Conflicts may arise, especially between co-executor siblings, for numerous reasons, including: The above are the most common reasons attorneys may advise their clients against using co-executors. (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. Disputes can also arise when personal belongings are being valued and distributed. If probate is needed, this written confirmation can then be sent by the other acting executor(s) to the Probate Registry alongside the rest of the grant application. Can joint executors act independently? Ensure your loved ones and property are protected, Property you should not include in your last will. Co-Executors in Pennsylvania must serve jointly. That said, sometimes it makes sense to name two executors. (755 ILCS 5/6-3) (from Ch. Surviving spouses are usually most familiar with the decedents finances and personal property or their intentions with respect to family members and loved ones after their death. If . JOINT EXECUTORS OR ADMINISTRATORS. Do I need probate if my husband or wife dies? Co-Executors are two or more people who are named as Executors of your Will. There must be some negative impact on the estate or the interests of the beneficiaries before the court will remove a co-executor at the request of the beneficiaries. Are the fees of both counsel reasonable administration expenses payable from estate funds? In another instance, naming a business partner as a co-executor to your will can ensure that decisions regarding your business are handled appropriately and that your business partners concerns will be addressed while your estate is being probated. Like most executors, you are probably eager to do a good job and to take care of estate business in a timely fashion. Our network attorneys have an average customer rating of 4.8 out of 5 stars. What Happens If There Are Problems With a Co-Executor? The statements and opinions are the expression of the author, Can co-executors act independently BC? If one of the executors wishes to act alone, they must first get the consent of the other executors. For example, a married person may name their spouse as the executor of their estate. 4. Having more than one executor makes the probate process much less efficient. Albert Goodwin, Esq. A co-executor should not act unilaterally, nor hide information or facts from the other executors." OntarioProbate.ca The Benefits of Joint Executors Even with the drawbacks, having joint executors is still a popular choice and does work out well for many Canadians who know their executors are cooperative and up to the task. Estate Planning: 11 Things to Do Before You Die. We are not your attorney, It is crucial for the co-executors to maintain a relationship of communication and cooperation. You can name as many co-executors as you wish. The will should contain an outline of the responsibilities that the co-executors hold. Other individuals can be a co-trustee; there is no felon limitation like there is for executors. Co-Executors do not share partial authority over the estate; each person you name as an Executor has complete authority over the estate. Generally, co-independent executors are expected to cooperate on matters surrounding: In instances where unethical, illegal or otherwise obstructive behavior is repeatedly observed by one co-executor, they may petition to have the other removed from their position and asume executor responsibilities independently. Co-Executors are two or more people who are named as Executors of your Will. Depending on their relationship with one another, it could save them from the stress of in-fighting as they navigate probate and try to work out what is in the best interests of the other heirs and beneficiaries. They can also delay the administration of an estate. Most lawyers advise that one executor is best, as it avoids potential disputes, but there are situations where it may make sense to appoint co-executors. generalized educational content about wills. Hiring an experienced estate planning or probate attorney to discuss your options may be in your best interests, depending on your situation. There are several reasons why people choose to have co-executors. It is perfectly possible to act as a sole executor if the winding-up on an estate is simple. A resolution is always available through the probate court. The other executor(s) would need to send a Notice of Power Reserved to the minor executor. If you are selecting co-executors, particularly if they are siblings, it is important to evaluate their ability to collaborate in exercising their duties. If you designate three or more co-executors, you can allow action to be taken by a majority vote. Co-Executors must act together in all matters related to settling the estate. The content is If an executor is unable to act because they lack capacity, the situation can become quite tricky. This is especially true if some of the co-executors live out of town or out of state, or if the co-executors have a tendency to disagree. (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. We represent clients throughoutSugar Landand the rest of Fort Bend County and elsewhere. 4610 Sweetwater Blvd #200, experienced estate planning or probate attorney. Sometimes co-executors may work fine with each other but may have difficulty working with one or more beneficiaries. 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. completeness, or changes in the law. In this way, each co-executor is responsible only for the duties to which their particular skills apply. Can two executors act independently? 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. One of the most common questions about serving as the executor of a will is whether an executor gets paid for administering a decedent's estateand the logical follow-up to that question is, If so, how much?" It can also be good to involve more than one family member to help avoid disagreements and distrust arising at what will be a difficult time. While an Executor is generally not held liable for the actions taken by their Co-Executor, they may be required to make a claim against the Co-Executor to protect the estate, or risk liability. If you have any questions, please contact me directly. Oftentimes, they will consider naming Co-Executors - two or more people who serve as executor of the estate. 718-509-9774, Prior results do not guarantee a similar outcome If the will names co-executors, it is important to know that: Both executors must sign the initial petition with the probate court. RIGHTS OF GOOD FAITH PURCHASERS. Appointing two executors who have conflicting interestsor who can't stand each otheris a sure way to complicate the probate process and increase the chances of litigation over the estate. We believe reflecting on our mortality can help us lead more meaningful lives. Attorneys with you, every step of the way. 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. Copyright 2008-2023 An executor can apply to the Probate Court to have another executor removed. 1. Neither has the legal right to . Basically, neither of you may act independently of the other. Co-Executors Need To Work Together To Avoid Conflict A New Jersey court has held that a co-executor's "unbridled belief she could act unilaterally in administering the decedent's estate without the need for consent from the co-executrix [may] amount [] to a breach of the [co-executor's] fiduciary duty [and] [constitute] cause for her removal." A client walks in who wants to create a trust or will and who has two (or more) children. Family members may be excellent candidates to serve as co-trustees or successor trustees when a Grantor is alive. Having more than two co-executors can cause increased conflicts, as there must be a unanimous decision made among all executors regarding the estate. In most states, an executor's deed must be signed by a witness and notarized. If one of the executors wishes to act alone, they must first get the consent of the other executors. If an executor or co-executor passes away before the testator does, the testator may designate a replacement by making a new will or a codicil to the existing will. With careful planning, probate can sometimes be avoided. 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? 110 1/2, par. First, many parents choose co-executor children in an attempt to seem fair. 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. Executors are entitled to estate commissions for any monies they pay out to the beneficiaries. It is important to know the difference between a co-executor and a single executor to be able to choose which is best for your estate. 307.002. The co-executors will need to establish whether a Lasting or Enduring Power of Attorney is in place and, if so, they should request a copy of this. Do your best to balance being sensitive to their preferences with practical concerns. There are advantages and disadvantages to having co-executors manage your estate. Matters can get complicated when an executor or beneficiary occupies a property and expresses a wish to remain there, but the other executor(s) or beneficiaries want to sell it. 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. Read more. Can Cordelia sell the antiques without the consent of her co-fiduciaries? TITLE 2. and may not apply to your case. When a co-executor dies, either before or during the probate process, the remaining co-executor or co-executors take over. Create a free website to honor a loved one who has passed away. One act done by one individual co-executor independently is seen by law as all executors acting upon the decision, so it's best to have all co-executors communicate and always be in agreement. Complete our contact form, and we'll get back to you. When you and someone else are named as co-executors in a Will, that essentially means that you must execute the Will together. While this can be beneficial for larger estates, which may require the expertise of multiple people in order to effectively divide assets among heirs and beneficiaries, smaller estates may find that naming co-executors makes the probate process needlessly more complicated due to the obligations of both parties. Disagreements between executors, although sometimes unavoidable, can cause worry, upset and uncertainty. Duty of executor to present will for probate.) Here are the basics so you'll know what to expect. Can Co-Executors Act Independently? Co-executors, on the other hand, are all primary executors who share the responsibility of managing the estate. Having co-executors does have its advantages, but it can also lead to conflict between co-executors and delays in the administration of your estate. Some of the decisions may already be addressed in the will. There are advantages and disadvantages to naming co-executors of your estate rather than just one executor. Added by Acts 2009, 81st Leg., R.S., Ch. 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.