Common Conflicts Between Joint Executors
When someone passes away, the executor is responsible for administering their estate. The duties of an executor include identifying and collecting the decedent’s assets, appraising estate assets, determining any debts and taxes, paying debts and taxes, and distributing property to beneficiaries according to the will. Sometimes, a testator (the person who made the will) appoints multiple executors. While having more than one executor can have several benefits, including shared responsibilities and diverse skills, it can also lead to conflicts that complicate the probate process. The following are some of the common conflicts between joint executors;
- Conflicts Over the Valuation of Assets
After identifying and gathering the deceased person’s assets, joint executors must determine the value of the assets. Valuating estate assets is crucial for, among other things, paying off debts and ensuring a fair distribution to beneficiaries. Disagreements between joint executors can arise if executors cannot agree on the valuation of the decedent’s estate assets. For example, one executor might prefer a formal appraisal, whereas another might find it unnecessary and advocate for an informal estimate to save time and money. This can create tension between the joint executors and lead to delays.
- Disagreements Over Whether Assets Should Be Sold or Retained
During the probate process, executors must decide which assets should be sold and which should be retained. Making this decision when there is one executor is relatively easy. However, when there is more than one executor, conflicts may arise. Disagreements may arise over whether specific assets, such as real estate, should be sold or retained. For instance, an executor might want to sell an estate to pay off debt, whereas another might want to retain the asset due to sentimental value.
- Conflicts Over How a Claim Should Be Handled
Sometimes, certain parties, such as beneficiaries or creditors, may bring claims against the estate. For example, a beneficiary may file a will contest. It is vital for the executors to determine how to address a claim against the estate effectively. Disputes may arise if the executors cannot agree on how a claim should be handled. For example, one executor may wish to settle the claim outside of court through alternative dispute resolution (ADR) methods, such as mediation or arbitration. In contrast, another may want to go to court. Such conflicts can prolong the probate process and even increase costs.
- An Executor Withholding Information
Openness is crucial when there is more than one executor. When one executor withholds information, such as expenses, it can lead to mistrust and suspicion. Depending on the seriousness, withholding information can lead to legal action to ensure full disclosure.
- An Ineffective Executor
Conflicts between joint executors can arise if one executor fails to fulfill their duties diligently. An ineffective executor can disrupt the probate process. For example, if an executor misses deadlines, it can cause disputes among the executors, thus disrupting the probate process. If an executor’s ineffectiveness harms the decedent’s estate, legal action may be taken against them.
Contact The Probate Guy
If you need legal help, contact the dedicated California probate attorney, Robert L. Cohen – The Probate Guy – today to schedule a telephonic consultation.
Southern California Probate Lawyer Serving Orange, Riverside, Anaheim, Whittier & Beyond.
