28 Jun Can I have more than one executor for my will?

Q. In New Jersey, are co-executors allowed? When I prepared by will, my attorney said or implied that co-executors were not allowed.
— Confused

A. We’re glad to hear you’ve taken steps to plan for your estate.

Wills are an important part of that process.

Co-executors can be appointed in New Jersey to administer estates, said Shirley Whitenack, an estate planning attorney with Schenck, Price, Smith & King in Florham Park.

“An advantage of having co-executors is that they can divide the work between them and discuss questions or problems with each other,” she said. “However, co-executors may disagree with each other which can cause delays in closing the estate.”

It’s important to note that financial institutions may require both co-executors to sign documents, which can slow the process if they don’t live near each other, Whitenack said.

“If a testator — the person creating the will — wants to name co-executors, the testator should be confident that the two people named can work together,” Whitenack said.

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This story was originally published on June 28, 2022.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.