This is a question that concerns an awful lot of parents, but they don't necessarily know how to prevent squabbles between the children. In this article, lawyer Kyle Krull gives a few tips for helping to head off disputes.
One of the tips given is to name the right executor. That of course is more easily said than done. As I've said many times on this blog, parents should give some serious thought to naming a trust company as executor, either instead of the kids, or to work together with one of the kids.
Click here to read Mr. Krull's article.
Hi Lynn,
ReplyDeleteMy mother is updating her will and we have discussed much of the advice you provide. She would like to name a trust as the executor of her will but this week Scotia Trust told her they provide that service only for estates of at least $500k. This is not the impression I've had from many of your postings. Should she just keep trying different trust companies until she finds one who would execute her small estate?
Thank you for all the information you provide.