Should You Appoint Co-Executors (Personal Representatives) in Your Will?

The person making a will — known as the testator — must name someone to manage their estate. This means choosing an executor is a task that requires a great deal of thought and consideration.

When faced with this challenging task, people sometimes consider choosing two or more people to act as co-executors. But while this might appear to be a good decision — after all, having co-executors means the entire burden of managing your estate won't fall on one person's shoulders — in practice, appointing co-executors is generally not recommended.

The Duties of an Executor

It's important when appointing an executor that you understand the role your executor plays in the management of your estate. The named executor of a will (referred to as a personal representative in some states) is responsible for the administration of the estate. Not only does this include managing your estate's assets, setting up estate bank accounts, and making sure all bills and taxes continue to be paid as required, but it also means overseeing the final distribution of your estate's assets to your beneficiaries in accordance with the terms of your will.

Additionally, your executor is responsible for the probate-related aspects of managing your estate, such as filing your last will and testament in probate court and filing for probate itself where necessary. In some cases, probate might not be necessary — for example, where your assets are jointly held assets. In this event, they typically pass to the surviving joint owner without any need for probate. Or the value of your estate may qualify for a more simplified or streamlined probate process.

Executors also have a fiduciary duty to the estate. This fiduciary duty means they are held to strict standards when it comes to their management of your estate and cannot act in a way that conflicts with the best interests of both your estate and its beneficiaries.

Can You Appoint Co-Executors in Your Will?

The short answer to the question "Can I appoint co-executors in my will?" is yes. You can name as many co-executors as you want. But the real question you need to ask is, "Should I name co-executors in my will?" As you will see below, there are a number of downsides to appointing co-executors. You should factor in these disadvantages when making your decision.

Common Reasons Why People Think They Want Co-Executors

There are many reasons you might want to have co-executors handling your estate. Some common reasons include:

• Not favoring one adult child over another. Many parents worry that appointing one child to be executor of their will might cause conflict and hurt feelings between that child and their other adult children, who may feel the decision signals their parent's favoritism.
• Different aptitudes and skills are required. Some people hold different types of assets that they feel require different skill sets to manage, and the people they trust to act as their executor may not have all the skills required. For example, an estate that holds both real estate and copyrighted properties might need an executor with both property management skills and experience with managing intellectual property rights.
• Assets of the estate include the ownership of a business. Business owners might feel they need an executor, such as their business partner, who has experience running a business to manage that part of their estate, while also wanting their spouse or a loved one to manage the rest of their estate.

Why Having Co-Executors Can Be Problematic

Regardless of why you want to appoint co-executors, it's important to understand why doing so can be problematic and potentially cause conflicts and delays that could be avoided by appointing a single executor instead.

• Conflict among family members. Co-executors have to act together on all matters involving the estate. This means they have to agree with any decisions taken. If you've named your adult children as co-executors, disagreements may lead to the kind of family conflicts and tensions you were hoping to avoid by appointing them co-executors in the first place.
• Executing documents. Any paperwork concerning the estate, including tax returns, needs to be signed by all co-executors. The need to get multiple signatures each time a document is signed can lead to delays, inconveniencing both the management of the estate and the probate process.
• Monitoring co-executors. Because co-executors are jointly responsible for the obligations of managing the estate, each co-executor of a will needs to monitor their other co-executors to make sure they're fulfilling their responsibilities properly. If one co-executor is acting in a way that conflicts with the estate's interests, the other co-executor(s) has to report this behavior to the probate court.

These are just some of the disadvantages of naming co-executors in your will. In particular, if your desire to appoint co-executors stems from your wish not to create conflict among your children, the potential drawbacks can often outweigh the perceived benefits of having them act as co-executors.

One possible solution may be to name an alternate executor. An alternate executor is one who steps in as the executor in the event the primary executor wishes to resign or is otherwise unable to perform their responsibilities as executor.

Should You Appoint Co-Executors? Speak with an Estate Planning Attorney

If you're thinking about appointing co-executors, it can be a good idea to consult with an experienced estate lawyer and obtain legal advice to help you make the right decision for your particular circumstances.