Evaluate All Possible Choices When Naming an Executor

October 26, 2017 Victor Medina Executors 0 Comments

Sometimes people ask whether or not they can name all of their children as the executor of their will such that no one feels left out. You certainly can name multiple children as co-personal representatives if you choose to do so. However, this can slow things down significantly.

Multiple personal representatives typically have to be involved in the administration which means that each of them will need to sign a petition filed in court as well as all necessary documents to liquidate accounts and assets and real estate contracts. This can be especially burdensome for family members located in other states.

Personal representatives can also lead to additional attorney fees that can be avoided by naming only one person in this role. Pleadings must be updated to include multiple waivers, consents, and signatures. You might think that you’re doing the right thing by allowing all your children to feel involved in the process, but existing conflicts between them may erupt if there’s no clear leader and they’re all involved in the estate administration process.

Things can also get messy if you name multiple children as your personal representative because they may not agree or may be unable to come to terms with things together. This is why it is strongly recommended that you retain an attorney who can help walk you through this process and give you further information about the true value of estate planning.

 

 

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