Executor Appointment Clause (Two Executors, Survivor to Act)) (ON)

Summary

This clause appoints two named individuals as the executors and estate trustees of the testator, or the survivor of them.. This clause includes practical guidance and drafting notes. This clause appoints two executors to act together, with the survivor to continue acting should one of the two pass away before the administration of the estate is complete. If the testator wishes to appoint more than one estate trustee, the solicitor should advise the testator that the trustees must make decisions jointly, unless the will provides that decisions can be made by majority rule or by an estate trustee who has a veto. Solicitors should also seriously consider whether the inclusion of majority rule or veto clauses will lead to strife amongst estate trustees, especially those who are related. On the other hand, a majority rule or veto clause may be appropriate where one or more family members will act as an estate trustee, along with a corporate estate trustee, such as a trust company, in order ...