Co-Executor - It seems like a good idea, but it's not.

Far too often, we hear from parents who want to leave multiple children in control as an Executor or Executrix of an estate. Multiple Executors seems like a good idea, but in our experience it's not. Multiple Executors means multiple approvals, multiple opinions, and delays throughout the process. 

In one case, we had co-executors have different opinions about the assets of the estate. One executor thought there was over $100,000 worth of assets; while the other thought there was less than $35,000 worth of assets. In the end, the court sided with the executor who brought forth sufficient evidence to support their opinion, which was $35,000 worth of assets. It costs both parties in attorneys fees and minimized their inheritance. 

If you're concerned that a child or loved one may miss out if there's not co-executors, you don't have to worry, because if the child or loved one is included in the Will, then they will receive Notice of any important proceedings in the case like the Inventory and Appraisal. And they'll have a chance to file objections to contest the assets on the Inventory and Appraisal that shouldn't be there. For further questions feel free to call us at 740.346.2899.