In New Mexico, may I appoint more than one executor or personal representative?
Full Question:
Answer:
There is no prohibition in New Mexico law to the appointment of two or more executors or personal representatives in a will.
The issues to consider however include how decisions will be made between them and what to do in the event of a split decision. If you appoint co-personal representatives, your will should clearly define the duties of each. Are both signatures required for all business matters or legal paperwork? Or can one child sign checks for amounts under $500, for example? Can one child act without the other? How should disagreements between co-personal representatives be resolved? If one child chooses not to serve or predeceases you, can the other child serve alone?
Often a person will choose one to be the executor and the other to be the alternate if the first cannot, will not perform the duties or is unable to perform them. Also, remember that an executor can solicit (hire) assistance with performance of his/her duties if he/she does not possess the expertise. It is not uncommon for an executor to hire a law firm to assist.
