A probate lawyer in Lakewood Ranch FL can help you plan your will and trusts; however, what they cannot always do is help you decide who should be the executor of your estate. Some people choose a trust company, lawyer, or bank to handle the execution of their final affairs; however, many choose to have a person close to them handle this responsibility. The trouble comes from when clients have multiple children and cannot choose one of them to handle being the executor of their estate.
Clients will often look to their probate lawyer in Lakewood Ranch FL to help them choose whether to have one executor or multiple and while no one can make that decision for you, there are definite pros and cons when it comes to appointing multiple executors.
Pros of Multiple Executors
There are many reasons to appoint more than one estate executor, however these are all contingent on executors being able to work together and get along.
- The emotional labor is divided amongst multiple people
- The paperwork and legal process is delegated to multiple people
- Assets are included in the estate that require executors with diverse expertise such as business or digital assets.
- Executors who do not like in the same city or state have some help with handling affairs from afar.
- Decision making does not rely solely on one person.
Many families choose to have multiple executors because they want their children to feel as though they have equal parts in the final affairs of the parents. Siblings who can work together well can usually handle this responsibility with no problem but every probate lawyer in Lakewood Ranch FL would caution against multiple executors.
Cons of Multiple Executors
The major drawback of naming multiple executors is that executors must work unanimously to make decisions. Majority rules do not apply when it comes to executing an estate. This can put a lot of strain on executors, especially when they do not agree.
Your probate lawyer in Lakewood Ranch FL might also see delays in the probate process when executors cannot agree or align their schedules to make rapid decisions.
If you need to confer with a probate lawyer in Lakewood Ranch FL before making your executor decisions, call The Law Offices of Kimberly K. Muenter at 941-229-2529.