Quick Answer: Can You Have More Than One Executor?

Can executor withhold money?

But that has nothing to do with their duties as executor.

Can an executor of a will legally withhold a beneficiary’s share of the estate stipulating it will be withheld unless and until that beneficiary seeks help with their addiction..

Can an executor do whatever they want?

Executors do not have to answer every single question you have. They have to keep you informed. Estate beneficiaries can take an active role by questioning executors. Beneficiaries can’t insist on any distribution until the will has been probated.

Can a beneficiary remove an executor?

If you are a beneficiary, you are entitled to apply to the Court to seek the removal/replacement of an executor or administrator. However, whether you succeed in this application is another matter entirely. An executor is appointed by the will of an individual who has passed away (the deceased).

Can a named executor refuse to act?

Under the legislation, a refusal to act as an Executor is called “renouncing”. … Once the Renunciation of Probate has been filed with the Court, you will be removed as Executor of the Estate. If your Uncle appointed more than one Executor then the other Executors will be responsible for the administration of the Estate.

Is it better to have more than one executor?

In most situations, it’s not a good idea to name co-executors. When you’re making your will, a big decision is who you choose to be your executor—the person who will oversee the probate of your estate. Many people name their spouse or adult child. You can, however, name more than one person to serve as executor.

What happens if there are 2 executors of a will?

When conflict arises between executors, it usually results in delays in the administration process, increased costs and stress to all interested parties. … Blended families are a classic example – conflict often arises where the second spouse and a child of the will-maker are both appointed as co-executors.

What does an executor have to disclose to beneficiaries?

The accounting should list: All assets at the time of the decedent’s passing. Changes in the value of the assets since the decedent’s death. All taxes and liabilities paid from the estate, including medical expenses, attorney fees, burial or cremation expenses, estate sale costs, appraisal expenses, and more.

Can one executor apply for probate without the other?

If the sole executor is also the sole beneficiary, the wording of the will may result in no other person being entitled to apply. If the wording of the Will allows an instituted executor to be substituted, for example, the instituted executor is “unable or unwilling”, then the substituted executor(s) can apply.

What happens if an executor does not act?

What to do if the executor refuses to act? If the named executor refuses to apply for probate one or more of the will’s beneficiaries or next of kin may write to them and put them on notice that an application may be sent to court to name someone else to manage the estate.

Does executor have to keep beneficiaries informed?

An Executor has a duty to provide the Court “true and just account” for the administration of an Estate when requested to do so, however, in most Estates it is not necessary for accounts to be filed with the Court. … Executors have an obligation to keep beneficiaries informed.

What power does an executor have?

The Powers of an Executor the power to sell all or any part of the estate to pay debts and to distribute the estate among the persons entitled. the power to act as a trustee for the purposes of the Settled Land Acts.

What happens when there is more than one executor?

Executors can step aside More than one executor may be appointed, but not all of them need to act. An executor may renounce/refuse to take out probate, leaving the remaining executors to deal with the estate. This can only be done if they have not already started acting in this role.

Can one executor remove another?

If you are not happy with the executor’s explanation, you can apply to the court to remove and substitute that person. Note, however, that the process of removing the executor is not an easy one.

What if two executors Cannot agree?

When multiple Executors act together on the administration of an Estate, disagreements can sometimes arise. … If an agreement cannot be reached through negotiations, and a Grant of Representation has already been issued by the Probate Court, then it is possible for one Executor to apply to the Court to remove the other.

When there are two executors of a will?

1. In a perfect world the appointment of more than one executor would enable the executors to have a sounding board when decisions are made and increase the likelihood of fair decision making. However, in reality the appointment of more than one executor can lead to conflict.

Do joint executors have to act together?

Can joint executors act independently? No. Joint executors need to agree unanimously on estate decisions, which is the main reason having multiple people involved can slow down the administration process. One executor cannot overrule the other, and often disputes arise.

Are all executors equal?

The duties involved in administering an Estate remain the same, regardless of how many Executors have been named or choose to be involved. For more information on what the role of Executor involves, see Executor Duties Explained.

What happens if a co executor dies?

If the primary Executor of the Will dies before the Will Maker, the backup Executor(s) will usually serve as the Executor once the Will Maker dies and the Estate will be administered as usual. … The Court will usually grant administration to the Beneficiary with the largest interest in the Estate.