Naming an executor should not be done lightly.
Your estate planning attorney says you need an executor (also known as a personal representative).
You have multiple children and do not want to choose.
Maybe you can name all of them to serve together.
According to a recent nj.com article titled “I’m planning my will. Is it bad to have more than one executor?,” you should carefully consider the pros and cons.
The executor must gather all assets, pay liabilities and debts, and then distribute the remaining assets to heirs according to the instructions in the will.
If necessary, an executor can hire professional help.
For example, an executor may hire an accountant for the estate tax return or a real estate agent for the sale of a home.
Appointing multiple children can either help or hinder this process, depending on their relationship to each other.
If they get along well and each has different skill sets to offer, then they can divide and conquer responsibilities.
If they do not get along, disagreements can bring the estate administration to a standstill.
Having an odd number of executors would be key.
With an even number, there may not be a majority in agreement on a decision.
Perhaps you could designate a method to break any deadlock, such as rock, paper, sissors?
Even if they do agree, all of their signatures may be required to take action.
Coordinating this will take both time and energy.
Conflicts among siblings can also be a problem if you name a single sibling.
Other siblings could claim a conflict of interest and contest actions taken (or not taken) as executor, costing your estate in legal fees and time.
Carefully consider your family dynamics before naming your executors.
Discussing your situation with an experienced estate planning attorney can help you make an informed decision to meet the needs of your family.
Reference: nj.com (May 22, 2019) “I’m planning my will. Is it bad to have more than one executor?”