There is a risk to sign a waiver. If you and your brother are co-personal representatives (the term for executor in Florida) it takes two signatures to sign checks and any other documents that require the personal representatives signature. I can understand, for expediency reasons, having one personal representative, because then you don't have to circulate documents to get signatures. If you are concerned about it, and I think you are or you wouldn't be asking this question, don't sign the waiver.
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Do not give up control. I repeat, do not give up control. I cannot tell how many times this kind of action results in big problems down the road. Your mom gave both of you control and it may be for good reason. Stay involved and in that way you can avoid problems. And if you have a problem with him using his personal attorney, get one for yourself or demand that you and him pick an unbiased new estates attorney.
Hope this helps.
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Why do it? Nothing positive - only negative. Keep the relationship - don't do it!
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Your post suggests you both live in Florida which is the venue of the estate. Do you both live in the same circuit as your mother did? What types of assets are involved? In a very simple estate, I may disagree with my colleagues because much of the probate process can be ceremonial. If, however, you have real property that is going to require management and/or sale, it could get complex and divisive.