Can a eldest child be an executor of a will?
Don’t double their troubles. No legal rule requires only your eldest child to have this responsibility. Children who are professionals may not have all skills executors need. Confirm with your choices that they can work together.
Can a sister be the executor of an estate?
In the case of an estate, the primary job of the executor is to identify all of your mother’s assets, ascribe a value to them and carry out the provisions of the will (if there is one or, if not, then the specific state intestacy laws). If there is no will, your sister would be known as an administrator rather than an executor.
What does an executor of a mother have to do?
She is beholden to the laws of her state where your mother died, and must act accordingly. An executor must always fulfill his/her “fiduciary duty,” which essentially puts the onus on the fiduciary to place the interests of other interested parties (that is, you and your siblings) ahead of their own. You sister must do the right thing.
Why is it good to name both kids joint executors?
Naming both children together eliminates this risk without showing favouritism. Finally, naming both capable children as joint executors can help their long-term relationship. If they don’t get along when the time comes, they will have equal rights as executors. They can agree with each other on what steps to take.
She is beholden to the laws of her state where your mother died, and must act accordingly. An executor must always fulfill his/her “fiduciary duty,” which essentially puts the onus on the fiduciary to place the interests of other interested parties (that is, you and your siblings) ahead of their own. You sister must do the right thing.
In the case of an estate, the primary job of the executor is to identify all of your mother’s assets, ascribe a value to them and carry out the provisions of the will (if there is one or, if not, then the specific state intestacy laws). If there is no will, your sister would be known as an administrator rather than an executor.
Can a person named executor of a will be questioned?
“It is often the case in family situations that the person named the executor thinks they call all the shots and cannot be questioned, but in fact it is just the opposite,” says Marc Minker, a New York-based managing director at CBIZ MHM, a national accounting and professional services provider.