What happens when there are two executors of a will?

Co-Executors do not share partial authority over the estate; each person you name as an Executor has complete authority over the estate. This means that: Co-Executors must collaborate on decision-making and information-sharing with regard to settling the estate.

What to do when there are 2 executors?

In addition, when there are two executors (or more), each one is legally responsible for the others' actions. If the other person takes funds out of the estate and was not legally allowed to do so, the co-executor is on the hook.

Is it better to have one executor or two?

People usually designate one person to serve as the executor of their will, but it is also possible to designate two or more co-executors. Most lawyers advise that one executor is best, as it avoids potential disputes, but there are situations where it may make sense to appoint co-executors.

Should siblings be co-executors?

Having more than one executor can lead to conflict between co-executors. This can cause delays in the probate process. Conflicts may arise, especially between co-executor siblings, for numerous reasons, including: Long-standing conflicts unrelated to the estate.

What does a second executor mean?

An alternate executor is a person who would take on the duties of an executor if, for any reason, the person you've named cannot fulfill the role.

Should You Name One Executor or Multiple Co-Executors?

Can one executor act without the other?

It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. Co-executors will need to work together to deal with the estate of the person who has died. If one of the executors wishes to act alone, they must first get the consent of the other executors.

What happens if two executors disagree?

If two or more executors disagree, it's possible to get an executor removed by the court if it best serves the estate (in other words, to make sure your possessions are distributed as you wanted). When no substitute executor has been named, the court also has the legal right to appoint a replacement.

Can an executor decide who gets what?

Can an executor decide who will get what? An executor has the power to interpret a Will and distribute an estates asset according to the deceased's wishes as stipulated in the Will, but they cannot decide who will get what or when; that's already made clear in the Will.

Do both executors have to apply for probate?

Do all executors of a will have to apply for probate? Often more than one executor is named in a will, but not all of the executors have to apply for probate. A maximum of four people can apply to the Probate Registry to prove a will and be named on the grant of probate.

Can an executor be a beneficiary?

It is a common misconception that an executor can not be a beneficiary of a will. An executor can be a beneficiary but it is important to ensure that he/she does not witness your will otherwise he/she will not be entitled to receive his/her legacy under the terms of the will.

Can an executor change a will?

Amendments to a will can only be made while executing a will or after the date of execution of the will. Amendments to a will must comply with the same requirements for a valid will and, if a testator/testatrix cannot sign it, with the same requirements that apply for persons who cannot sign a will.

Can an executor of a will add another executor?

Can an executor appoint another executor? If they are unable to act temporarily, for example, they live abroad; it is possible to give a Power of Attorney to another person to act on their behalf. The executor can delegate the functions he/she has to carry out to the attorney.

What happens when a co executor dies after probate?

If the executor dies after obtaining the grant of probate

If the executor has left a Will then it becomes the responsibility of their executor to finalise the original estate. This is called the Chain of Representation.

Can an executor sell property of the estate without all beneficiaries approving?

The only thing that you need to conclude the sale agreement is the Letters of Executorship which authorises the Executor to sign documents in respect of the sale. The sale of a property out of a deceased estate must be approved by the Master of the High Court.

Are executors jointly and severally liable?

As the question states, the authority of co-executors is joint and several, as is their liability. They are effectively treated as one person so the acts of one bind the others. For example, the release of a debt or the transfer of goods by one of several executors is valid and will bind the other executors.

Do executors have to act unanimously?

There is no limit as to how many executors can be appointed but it is important to add that the executors are required to act jointly meaning any decisions must be unanimous.

What can an executor do before probate is granted?

Do executors need to consult beneficiaries?

It is a legal requirement of an Executor to keep track and produce evidence by way of accounts of all estate transactions. Estates usually take longer to administer than expected. Beneficiaries sometimes do not understand delays but by keeping them informed keeps beneficiaries happy.

How long do executors have to apply for probate?

There is no time limit in applying for Probate. Unlike some legal processes, such as applying for compensation, your application will not be disqualified because it is late. Nor will you be penalised or fined for late application. However, this does not mean that delay is necessarily safe.

What power does an executor of a will have?

The Master of the High Court grants the Executor the same powers as though he is the deceased individual himself. The Executor has complete authority to act and request information as though he is the deceased. Without the Court's appointment, no one has the authority to act on behalf of a deceased individual.

Does the executor of a will get paid?

This fee may be negotiable but don't underestimate the amount of work that is required to wind-up most estates. Executor fees are charged on the gross value of the deceased estate's assets which includes all property that the individual had, or was due to him, at his death.

Can an executor withhold money from a beneficiary?

Executors can withhold monies from beneficiaries, though not arbitrarily. Beneficiaries may be unable or unwilling to receive a gift by a will. The executor's job is onerous and the time taken to execute a will may vary greatly.

How easy is it to remove an executor from a will?

If agreed, the removal of an executor before probate has been granted is a relatively simple process. The executor can simply renounce their position in favour of the chosen replacement. Renunciation is also available after probate has been granted, providing the executor has not intermeddled with the estate.

Can executor act alone?

If an Executor has been named as the sole Executor in the Will, then they can act alone. If the Will has appointed one or more joint Executors, then these Executors will need to act together unless the other Executor(s) renounce from their role or have power reserved to them.

How many executors should you have on a will?

It is common to appoint 2, but up to 4 executors can take on responsibility for administering the will after a death. The people most commonly appointed as executors are: relatives or friends.