27th Apr 2017
FONT SIZE: A+ A-
Is one executor of a will enough? Rod Cunich explains
Author: Rod Cunich
Rod Cunich explains estate planning

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. 

RELATED ARTICLES





    COMMENTS

    To make a comment, please register or login
    TREBOR
    28th Apr 2017
    11:55am
    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...
    casey
    28th Apr 2017
    2:49pm
    You have lost me. If she is your ex, wouldn't her mother -in- law have been your mother?
    KSS
    28th Apr 2017
    7:29pm
    Unless the ex had remarried casey, then she would have had a new MIL.

    1st Jun 2017
    9:55pm
    Useful article, thanks!


    Join YOURLifeChoices, it’s free

    • Receive our daily enewsletter
    • Enter competitions
    • Comment on articles