Are the duties divided or are both parties required to be present for all steps in executing the will? And if there are outstanding loans to the person writing will, should the will state which are not to be paid back and which are to be paid back- And stipulate how the loans should be paid?
Divorce / Separation Lawyer
First of all, do not write a will without a lawyer. Even the slightest error can be a disaster. The cost of getting real help to do a will is amazingly low.
Second, I am not a fan of co-executors. It creates a recipe for possible dissension. I think there should be one decision-maker in most wills. If you don't trust someone enough to serve alone (and think someone else needs to watch them), that person is a poor choice to begin with. Co-executors also complicate day to day affairs as many things do require two people and two signatures.
Third, you can forgive some or all of your debts in a will. There are consequences, pros and cons, that should be discussed with your lawyer.
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4 lawyers agree
Family Law Attorney
You need some legal help. Do not do this on your own. Named co-executors is not a good idea. Giving the executor the right to name a co-executor is something else.
Deciding what debts to forgive is something you should discuss with your attorney so that you can explore and the consequences.
Criminal Defense Attorney
It would be best to retain an attorney to handle this matter.
Darrell B. Reynolds, Sr.
Attorney and Counselor at Law
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