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Originally Posted by MoneyGuy
We have two responsible adult children who get along great. Is it better to appoint only one as executor to avoid the hassle of them having to get together for decisions or name both. We already have wills but may update them. They live 30 minutes apart and both are married, one to a financial planner.
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Having two executors is a pain. Both have to sign basically everything, some of which has to be notarized. If they live 30 minutes apart it wouldn't be quite so bad, as they could meet and do things in person, but it still just adds hassle for no benefit.
The better way is to set things up so the executor has as little to do as possible, and then either name one of them or do as GGG says and have a 3rd party handle it. Even really simple things like making sure registered accounts have beneficiaries named and consolidating your finances into as few accounts as possible as you get older don't take much time but they save a fair bit of hassle for the executor.