Is one executor of a will enough? Rod Cunich explains

Font Size:

In his latest video from YourLifeChoices Retirement Bootcamp Q&A, Rod Cunich explains when it may be beneficial to have more than one executor for your will.

For more than 33 years Rod Cunich has been helping clients plan for their future by finding practical solutions to legal matters. When it comes to succession planning, business, corporate and commercial law and practice, he is a leader in his field.

Rod is a good listener and takes the time to know his clients on a personal level, earn their trust and work with them to achieve positive outcomes. It is through careful planning that he is able to effectively help clients attain a level of certainty and minimise risks. He holds social justice close to his heart.

www.rodcunichlawyer.com

Video help

To enlarge the video to fullscreen, click the square icon at the bottom right-hand corner. Volume can be adjusted by clicking the vertical bars to the right-hand side of the time indicator.

Activate subtitles by clicking the speech-bubble icon at the top-right corner of the video.

Video not working for you? Read the transcript below.

Transcript

The question is, “Is it wise to have one or more executors of an estate?”

It depends who it is. If you’ve got a professional person – accountant, lawyer or a third party – someone who’s not a beneficiary who is the executor, then having one person is fine and it might be that you have to have succession of people in case they get too old or they die.

A lot of people put their kids in. If the kids get on very well and they’re all sensible – have them all.

If you’ve got three kids and you choose one then unless, coming back to my conversation earlier, they all agree and know about it, all you are doing is setting them up for blue.

So, it’s a really hard question, there are a number of lawyers I know who always recommend, “Never put your kids in”, others will say, as I do, “What are the kids like? How do they get on?”

It’s no use having two who live here in Australia and one in America or somewhere else because they won’t be able to actually participate.

So you have to look at who is available and it can be one of the hardest decisions to make.

The information in this article and video should be considered general in nature and legal advice should be sought. Rod can be contacted via his site www.rodcunichlawyer.com, where you can learn much more, and also buy a copy of his book. 

Join YourLifeChoices today
and get this free eBook!

Join
By joining YourLifeChoices you consent that you have read and agree to our Terms & Conditions and Privacy Policy

RELATED LINKS

Seven common retirement mistakes - and how to avoid them

When it comes to retirement, knowing what not to do is just as important as knowing what to

What if he writes me out of his will?

Legal expert Rod Cunich helps Rob deal with threats of disinheritance.

Seven tips to be richer this time next year

These seven tips should see you be richer in a year's time.

4 Comments

Total Comments: 4
  1. 0
    0

    After the kerfuffle over the ex’s mother-in-law’s estate and the back-biting and suspicion – her decision was that all three of her children would be co-executors, so as to cut out suspicion, greed, selfishness, and all the other nasty parts of leaving an inheritance.

    Two votes out of three get the nod…

  2. 0
    0

    Useful article, thanks!


FACEBOOK COMMENTS



SPONSORED LINKS

continue reading

Entertainment

Friday Funnies: The barista and the spoon

Enjoy these caffeinated jokes from Readers Digest while you sip your morning coffee. They may even improve the best part...

COVID-19

What chickens can tell us about living with COVID-19

Professor Amir Hadjinoormohammadi As the world grapples with rolling out various vaccines for the SARS-CoV-2 virus that causes COVID-19, there...

COVID-19

Vaccinations, transmission, contact tracing: COVID questions answered

What do we know about COVID-19? Given how new the disease is, how much has been learnt in the past...

Mental Health

What is agoraphobia and how is it treated?

Popping to the shops, picking up a coffee on the way to work, queuing up for entry to a gallery...

Food

Benefits of kefir and what to look out for

Forget kale and nut butter: fermented foods are the one big health trend we'll all be spooning into our diet...

Age Pension

CPI figures point to an increase in the Age Pension in March

After pensioners were denied an Age Pension increase in September last year, due to a rare case of deflation in...

Diseases

MND breakthrough offers hope damaged nerve cells can be repaired

There is hope of a breakthrough in treating motor neurone disease (MND) after Edinburgh researchers found a way to repair...

Health

Avoid these common mistakes people make with bleach

Bleach is one of the most effective and least expensive disinfectants around, but it pays to remember it's not an...

LOADING MORE ARTICLE...