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Would like will to have co-executors. How does this work?

Stone Mountain, GA |

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?

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Attorney answers 5

Posted

This Is not advised and can be a recipe for disaster.
Hire counsel and get this done correctly.

Posted

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.

If you find this answer helpful, please mark it here on AVVO as helpful. In answering you, I am attempting to communicate general legal information and am not representing you (and am not your lawyer). Do feel free to call me at 404-768-3509 if you wish to discuss actual representation (the phone call also does not retain counsel; that requires an office visit and appropriate paperwork). In that a forum such as this provides me with limited details and doesn't allow me to review details and documents, it is possible that answers here, while meant to be helpful, may in some cases not be complete or accurate, and I highly recommend that you retain legal counsel rather than rely on the answers here. (You can also email my office at geaatl@msn.com . An email also does not retain my office, but can help you get an appointment set if you prefer not to call). I am happy to discuss possible representation with you. Any information in this communication is for discussion purposes only, and is not offered as legal advice. There is no right to rely on the information contained in this communication and no attorney-client relationship is formed. Nothing in my answer should be considered as tax-advice. To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein. Note that I am only licensed in Georgia and thus cannot practice in other states. I am also required to advise you, if your question concerns bankruptcy, that the U.S. Congress has designated Ashman Law Office as a debt relief agency that can help people file bankruptcy.

Posted

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.

Posted

It would be best to retain an attorney to handle this matter.

Darrell B. Reynolds, Sr.
Attorney and Counselor at Law
drey1954@cs.com
404-636-6616

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Posted

Not a good idea in practice.

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