The process of administering a loved one’s estate is more than just a legal process. It often involves many family members, high emotion and in some cases tension. When preparing your Will you need to consider who you are going to appoint as executor/s. You can have up to 4 executors. It is important that you consider whether your chosen executors are going to be able to work together to administer your estate.
Executors have many obligations such as collecting your assets and paying your liabilities. If you have more than one executor, then those executors will have to agree on all decisions. Executors are appointed jointly therefore it is not a case of a “majority vote”.
Feuding executors are often unable to reach agreement. This frustration creates unnecessary delays in the administration of your estate. It may also affect your funeral arrangements. Your executors have the final say when it comes to planning your farewell.
The role of executor is an important role. A role which comes with significant duties and obligations. Appointing suitable executors will assist in ensuring the administration of your estate is as smooth and stress free as possible.