Estate Planning For Peace Of Mind

Should you choose more than one will executor?

On Behalf of | Apr 9, 2021 | Estate Planning |

Part of the estate planning process involves choosing an executor for your will. This person will administer your Texas estate, pay off debts, distribute your assets and complete more tasks after your death. For these reasons and more, it’s important to choose someone that you trust. You might even want to choose two executors for extra security.

Why would you choose two people to execute your will?

In some cases, trusting two or more people with the task of estate administration might overcomplicate the process. However, it could also save your family a lot of stress and tension after you’re gone. If your executor precedes you in death and you didn’t have the time to choose another one, you’ll have no control over who takes care of your will. If you choose two executors, the second person could take over after the first executor’s death.

Choosing two executors could also prevent arguments among your family members. For example, if you choose your spouse or one of your children to execute your will, your other family members might feel resentful or claim that this person has a conflict of interest. Your estate planning attorney might recommend giving both children or your spouse and child the title of will executor. Ideally, this means that both parties can work together without feeling like the other party has a conflict of interest.

If you’re worried that your current executor might not be able to handle the stress of estate administration, choosing a co-executor could make the process easier for everyone involved. This person could help your executor through the process and take on some of the responsibilities. If they’re experienced in this area, they might even be able to offer advice.

Could you choose an alternate executor?

In addition to choosing a co-executor, your attorney could also help you choose an alternate executor. This person only takes on the responsibilities if your first executor dies or becomes incapacitated. Choosing an alternate executor is a great way to protect your will from outside influence. Your attorney could also help you plan for probate, minimize estate taxes, and complete other associated tasks.