Just curious...I was just asked by another relative to be a beneficiary of an account of theirs and a co-executor of a will. I am also the executor of my parents' estate, the beneficiary of my brother's life insurance and executor of his will, co-executor of one sister's will, trustee of of her trust and guardian of her children, guardian of my other sister's child, and executor of another relative's will.
Hopefully the only one of these I'll ever have to actually handle is my parents' business, and hopefully I've got another 20+ years before that becomes an issue. I tend to get picked because I'm the oldest child and grandchild living in the state we grew up in, which is where all of our older relatives live, and because I work in finance so presumably will be able to handle things adequately and in a timely manner.
So just curious...anyone else in this situation? Do you ever say no to a request like this?
My parents just recently made me their executor and to make the call on their health as well. Sucks :(. But I'm glad they felt they could come to me to handle it all for them. Though I'm also like you and saying it will be another 30-40 before I have to worry about any of it.
I'm the beneficiary of my sister's life insurance, as well as my husband's.
After my mom died in September - my dad added me to one of his savings accounts. My sister is the executrix of their estate. She lives the closest and is the oldest....after my mom died, I was there for 2 weeks helping my dad go through stuff. But my sister goes up every week.
Would I say NO? Yes. If I didn't think I could handle the situation - living too far away, etc. I would say NO to the request and explain why.
Wow, maybe you should be compensated? :P That's alot of potential responsibility there.
I'm not sure I would say no, but then again I'm not in your shoes!
I am the executrix of my mom & dad's estate. My name is on their checking account and as the beneficiary of their savings, etc.
I also have been assigned the difficult task of pulling the plug or not allowing the plug should it come to that.
I don't think I would want to be in charge of more than this and my own family. I know it's important to have a will and living will set up. We have guardianship set for our four boys and we update it every couple of years. Since we have four boys - should we both die at the same time - we wanted to make sure the guardians would and could take all four boys.
To answer your question? Unless everything was spelled out, I might say no to more.
Just my brothers but it's because none of my other family members have bothered to put together any of the above. Wish they would! It would make it a lot easier later!
Yes, I'm the co-executor of my parents will. I also have power of attorney.
I'm the executor of my mom's estate. She has a trust and my name is on the trust - all of her assets are in the trust. I really didn't want to do it because I live far away, but my brother has psychological issues and Mom had a fairly complex estate so she just didn't feel he could handle it. My husband is the executor of his mom & step-dad's estate, but the way she spends money there won't be anything left so it should be a pretty easy job, lol.
Once. I hope to never do it again. Horrible process.
My husband was the executor for his father's will.
It took a little over 3 years after my FIL's death to get everything settled.
He really left a major mess of things for my husband to clean up.
There are still a few unresolved issues and he died 12 years ago.
When he divorced he won the right to separate his ex-wifes name (my husband's Mom) from some stock he had that was in both their names - it took years in court to get it.
And then he never did anything with it - so her name is still on the stock and she won't sell it or buy out the other half and my husband can't do anything with it till she dies (she's in her 80's).
When she passes away then he'll be able to liquidate it and the money will go to our son's college fund.
I am executor for my Mom's will.
She's been estate planning for a long time so it shouldn't be half as bad as what my husband went through.
I am the named executor in my husband's will, my dad's will, my mom's will, and my sister's will. I am the named guardian for my sister's children should anything happen to her.
