People in Greensboro, North Carolina who make a last will and testament have to appoint an executor who will be responsible for managing their probate estate. An executor has numerous different responsibilities that he or she must meet during the probate process.
In some situations, people appoint co-executors to manage their estates. These executors both have the authority, and the responsibility, to see that the estate is properly settled. If you are thinking about appointing co-executors, you should probably reevaluate your decision. In almost every situation, a single executor is preferable to two or more. Here is why:
One of the main jobs an executor has to perform is to pay all associated estate debts with estate funds. Executors will, for example, have to reimburse those who paid for any funeral expenses with estate money. To do this, the executor typically writes a check. If you have co-executors, both of them will have to agree on who should receive the payment and both of them will have to sign the check. This adds a needless complication, as well as making both executors’ jobs a little harder.
Executors may also have to appear in court. Scheduling a court hearing when both executors have time can be difficult. If there is only one executor, he or she can more easily work with the court to schedule hearings and meetings.
If appointing multiple executors is important to you, consider appointing replacement executors instead. A replacement executor is someone who will take over if the original can no longer serve.