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If 2 executors to a will are unable to agree on how to divide the assets, what would happen at that point?
Anonymous6 views4 answers
My mother left 2 executors in her will (my aunt and her deceased husband's sister). There is nothing in the will that puts forth her wishes on how to divide the assets, just to do so as they see fit. Could this void the will or send it to be seen by a judge? And what would happen to the estate as I'm her only child.
Are you saying she wrote a Will and did not say how to divide her assets? If you are the only child, I would challenge the Will but you will need an attorney to do it.
First, you will need to determine if the Will specifies whether there is a primary and secondary executor, or intends to have co-executors (which does not happen often). It appears from your question that the will sets up co-executors who are in dispute as to how to distribute your mother's assets. The Will should at least state who the beneficiaries are (if it doesn't then it may go according to how New Jersey law establishes intestate distribution - without a will that is). Next the question then becomes, what are the assets? If the bequest is all cash, this is easily split between the beneficiaries. If it is not liquid, such as jewelry or property, and the co-executors cannot decide how to divvy up the property, they may have to liquidate it and distribute the cash in equal shares to the beneficiaries (you cannot cut a ring in half). This sounds, unfortunately, like it may very well end up in court and you would be well advised to retain a lawyer experienced in probate matters and will disputes. Feel free to contact our offices at your convenience.
Fascinating. It is very odd that the will does not direct how to divide the assets. I believe you need to immediately speak to an attorney about the particulars and so they can review the will themselves. Many of us in the probate arena provide for free consultations, so there would be no risk to you. (And I think a great many would be interested in a case where the will says "Do what you want!")
Unless the will specifically provides the co-executors may act independently of each other, they must agree and act jointly as to every decision. The law treats co-executors as a "single entity" for the purposes of administering the Estate. It seems unlikely that the will gives the co-executors unfettered discretion to dispose of all of the Estate's assets, but, that can sometimes be the case when it comes to the deceased's personal property.
In any event, if the co-executors cannot agree, one or both of them must petition the Court for instructions on how to proceed. The Court has great flexibility in crafting resolutions to these issues, but, without reviewing the will and discussing the facts, I cannot provide you at this stage with probable outcomes. I recommend you speak with an experienced Estate Litigator and provide him or her with a copy of the will.
