All the probate lawyers Lakewood Ranch Florida offers agree that one of the most stressful decisions of an estate and will planning is deciding who will be the executor. Often, parents with multiple children will wonder if more than one of their children can be named as the executor on the will. The short answer is yes; however, multiple executors comes with pitfalls along with the benefits of being able to spread out an executor’s duties between multiple people.
Are Multiple Executors a Good Idea?
Most people’s estates will be relatively straightforward and easy to settle. Multiple executors can often get in the way of each other, holding up court appointments when all cannot be present, having to coordinate between multiple schedules for calls and appointments with the probate lawyers Lakewood Ranch Florida has available. All these barriers can be frustrating and slow down the process for everyone.
Another drawback to having multiple executors is that they must all act unanimously, not by majority rules, which means that nothing moves forward unless everyone agrees. Any paperwork that needs a signature must have the signature of all executors. Signature gathering can also hold up the process if executors are each not handling the estate in person.
The probate lawyers Lakewood Ranch Florida has will agree that one executor is usually the best option if you have an easy to manage estate and will. Having one executor is better for efficiency, clarity, and speed. If you feel as though your estate is complicated and needs more hands in the pot to settle affairs, keep in mind that an executor can also name advisors such as accountants to help them settle the estate or hire probate lawyers to help them through the legal processes.
If you need help creating your will and planning your estate settlement, contact the Law Office of Kimberly K. Muenter, P.A. at 941-254-2842.