Welcome back. Our lawyer in Raleigh NC is here once again to talk about co-executors. This time, we are focusing more on problems that might arise when naming more than one executor.
Problems with Co-Executors | Lawyer in Raleigh NC
A co-executor can choose to not have a say in a decision if he or she is opposed to it. This usually occurs when one has a moral or ethical problem with the issue at hand, such as donating to an organization that one party does not support. A co-executor can also choose to renounce his or her duties and allow the other executor to take full responsibility.
When issues cannot be resolved, the courts may get involved. This can mean that the issue is brought to a judge where both executors can present their arguments. After hearing both sides the judge will issue an order in favor of one and then both must agree to that order. Keep in mind that going to court can lead to costly litigation fees.
Outside parties can become involved in problems between executors if he or she has a stake in the will. Most state laws say that, for instance, if someone has an interest in the will, such as a beneficiary, he or she can file a suit against the executors to resolve the issue.
There are ways to attempt to avoid conflict when co-executors are settling an estate. Each executor will need to be an effective communicator. Having a strong dialogue about the proceedings can help avoid confusion and conflict.
A professional executor can also be used to take care of the legal and tax issues regarding the estate. Because he or she does not have a personal connection or a stake in the estate, he or she will not be biased or seeking personal gain from the estate.
If you have questions about naming executors of your estate, call the lawyers at Eldreth Law Firm in Cary NC to make an appointment. They have experience in helping people plan their estates.
If you haven’t appointed a guardian and need to update your estate plan, or you haven’t reviewed your documents in several years, now might be the best time to do so, now The beginning of the year is a great time to start updating or planning. Our lawyer in Raleigh NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact us to get started estate planning, today.
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