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Advantages of co-executors Providing you believe they can get along and cooperate, co-executors may be advantageous for the following reasons: If you aren't convinced that you can fully trust any one person to serve as executor, co-executors can be used to keep each other honest. In 2017 the Texas legislature passed the Texas Durable Power of Attorney Act which specifically addressed the ability to name co-agents in a power of attorney document. If a co-executor has died, the surviving executor(s) will need to get a copy of the death certificate for their records. Read more. Call us today at (281) 242-0995 or fill out ouronline contact formto schedule a free consultation. Will vs. living trust: What's best for you? is an important part of executing a will. They all hold the same authority over the estate. Executors are responsible for dealing with the estate of someone who has died. There can be one or more Executors appointed in the Will, but the maximum number of Executors that can apply for a Grant of Probate is four. A co-executor has the same duties as a single executor, primarily to: In addition, a co-executor has the duty to assure that any other co-executors fulfill their duties. The duties of an executor: executor of will checklist. Can one of the co-executors act independently from the others? 2min read. When you're appointed as an executor for someone's will, often it'll be alongside other executors. They may refuse to release funds to the estate until all the executors have signed their paperwork. For example, one may have special knowledge in real estate and another in dealing with digital assets. Dealing with the deceased individuals debts. Because a power of attorney is one of the most important legal documents you can have, it's important to know whether you want a durable or regular power of attorney. For unmarried folks, it is often an adult child or a close friend. If probate is needed, the Court can in some cases agree that it would be better for the estate to go ahead with the application without notifying a co-executor. Help! My Bank Won't Recognize Co-Trustees - Farr Law Firm When the signature of a co executor of the will is required for the estate to act (to sell a home for example) both of the coexecutors should be signing the various documents (including deeds to real property) together. Well, not always. Create a free website to honor a loved one who has passed away. advice. It is important to know the difference between a co-executor and a single executor to be able to choose which is best for your estate. It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. You can provide that your co-executors must act together or that each may act independently of the others. After all, two minds are better than one, right? 307.001. Yes. If the co-executor is a law firm or lawyer and its believed that theyre no longer trading or practising, its best to check that this is correct with the SRA (Solicitors Regulation Authority). Five Mistakes to Avoid When Serving as Executor of an Estate