What Are the Most Common Types of Dissolution?

Joint Executors disagrees on many things and if one of the joint executors dies, then there must be other Executors. When two or more Executors are selected, they often have differing perspectives on how to administer the estate. Some of the disagreements generally center around who gets to make decisions, make minor repairs to the estate, determine what the final will be and control the affairs after the testator's death. There are even some disagreements about who gets to keep the assets once the testator has died. There are also some disagreements about who gets to decide how the will is read. To understand how joint testators disagree on the estate, it is helpful to have an understanding of how estates work and how to read a will. If you are researching your loved one's estate, especially if that person had many assets, you may be confused as to who should make the decisions after his or her death. In addition, if one of the named executors dies, there must be other Executors and if one of those other Executors also dies, then again, you may be confused as to who is supposed to make decisions and control the estate once the deceased person no longer is living.

The reason that most wills contain some type of clause allowing for different Executors to act in different ways is to prevent just one person from controlling everything or from having all of the assets. This is especially true with a joint or several joint executors in an estate where the deceased estate contains a large number of assets. Because of this clause, if one of the named Executors dies, then there is no longer just one person who can make important decisions in the estate, unless the will explicitly allow for such a situation.
It is also possible for a few joint executors to disagree because one or more of them may have an interest in protecting some aspect of the estate and not another. For example, some of the names on the lists may be connected to interests in real estate, art or music, which some people might be interested in maintaining or protecting in the event of their deaths. This can pose potential problems down the road when those names are no longer available or if they die unexpectedly, leaving the entire estate in the hands of one of the remaining Executors. Again, it is possible that the remaining Executors are able to work things out so that the remaining member of the pairing can retain control. View this post to get the best money savings advice.

There can also be problems with probate, especially if the decedent had no living will when he or she died. If there was no will, then the state law directs that one of the decedents must have a power of attorney that is validly prepared and signed by all of the decedents, including themselves, naming their children as agents. These agents are then authorized to handle any affairs that need to be handled, including probate. Because the powers attributed to the agents have been placed in the hands of one of the two executors, the other must agree in writing to allow one of the executors to administer the affairs including probate. If this happens, then the relationship between the two executors breaks down and the probate is no longer the responsibility of one of the two. In cases where there is no valid will, the state law directs that one of the decedents must appoint someone as the administrator for the decedent's affairs. The appointing can be done by one person or both persons can designate an individual as the administrator. In some states, the appointed individual can be either the husband or wife of the deceased, a parent, child or grandparent, or anyone who is known to be close to the deceased. It can also be someone who is financially related to the deceased or a friend or family member. Often, the state law requires that two or more persons are appointed administrators, although this is not always the case, and when this occurs the testator has the right to replace the failed administrator.

For additional details regarding this topic, check out this link: https://www.encyclopedia.com/executor.