Q: Dad passed away in Cobb County. Brother & I are co executors. Can my brother renounce this as he is out of state?
Unfortunately, my brother and I are unable to be in the same place at the same time to close out my father's bank account. If he renounces his duties as executor would this effect anything else? His life insurance benefits? We have full trust in each other... it is strictly a logistical issue.
A: Your brother may renounce his right to serve, and unless your father named a successor co-executor, you could serve as the sole executor. The renunciation must be in a writing signed by your brother and his signature must be notarized. The renunciation must be filed with the probate court. Renunciation of the right to serve as executor should not have any effect on life insurance. You would have to review the provisions of the Will to see if it had any effect on any of the gifts. The executor generally is entitled to receive compensation for services as executor, and if your brother renounces his right to serve, he would forego his right to receive compensation for serving as executor. If you renounce your right to receive compensation, then it would not matter. This response is designed to provide general information only and not legal advice about your particular situation. It does not establish an attorney client relationship.
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