Welcome back! Today, our estate lawyer in Raleigh is here to talk more about co-executors for an estate and why you might choose to do this. If you missed our previous blog be sure to visit back with it, here.
Co-Executors | Estate Lawyer in Raleigh
There are many reasons why people may want to name two executors. Some may name all of their children in order to avoid hurting anyone’s feelings. This may not be good practice if the siblings do not get along. It can cause more tension between them and more difficulty in settling the estate. If you want to name one child as an executor but feel there may be an issue for the others, have a talk with them beforehand so they will not be caught off guard later. Other children could also be named as a backups or alternates should the first executor named not be able to fulfill his or her duties.
Some people feel that they are more protected because they have two people named in case something should happen to one of them. Others feel that they want to have two trusted parties involved so that each of them will see to it that the estate is handled correctly.
Others want to name their spouse as executor but do not want to overwhelm their significant other, so they name a second person to help. This is often the case when someone owns a business and the spouse is not involved in it. The co-executor can handle the business aspects of the estate, while the spouse can deal with the other areas. Both parties will still have to work together, but they can each agree to handle the aspects they are most familiar with.
Naming executors or co-executors of an estate can be a daunting process. Speaking with an estate lawyer in Raleigh who has experience in estate planning can help you make the right decisions for your situation.
Eldreth and Eldreth | Estate Lawyer in Raleigh
Remember, if you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer 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 our office.
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