Executor

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What is an executor?

An executor is the person appointed to administer a deceased person’s will and carry out its instructions. The executor locates and inventories assets, pays debts and taxes, notifies creditors, and distributes the remaining property to beneficiaries—typically under the oversight of a probate court.

Key duties

  • Be legally eligible—typically an adult without disqualifying convictions.
  • Locate the original will and any asset lists or related documents.
  • Inventory and value the estate (using date-of-death values or an alternative valuation when applicable).
  • Notify heirs and publish any required notice to creditors.
  • Pay valid debts, final income taxes, and any estate or death taxes.
  • Manage and protect estate property until distribution (secure real estate, continue insurance, etc.).
  • File required probate documents and obtain court approvals as needed.
  • Distribute assets to beneficiaries according to the will.
  • Keep detailed records and receipts of all transactions and communications.

Practical steps for someone acting as executor

Before agreeing
* Learn where the original will and asset documents are kept.
* Ask about known assets, debts, and contact information for attorneys or financial agents.
* Discuss the testator’s funeral wishes and other special instructions.

After accepting the role
* Gather originals and make copies of all documents.
* Open an estate bank account if needed.
* Notify Social Security, IRS, and other relevant agencies.
* Secure property and prevent unauthorized removal of assets.
* Work with a probate attorney or CPA when complex legal or tax issues arise (this will increase estate costs).

Estate planning context

Executors are a central part of estate planning, which arranges how assets will be preserved, managed, and distributed after death. Common estate-planning steps that involve or affect the executor include:

  • Creating or updating a will or trust.
  • Naming an executor and (separately) a durable power of attorney.
  • Updating beneficiary designations for life insurance, IRAs, and 401(k)s (note: retirement beneficiary designations generally override wills and trusts).
  • Establishing guardianship for minor dependents and planning funeral arrangements.
  • Using trusts or gifting strategies to manage estate taxes.

Common disputes and challenges

  • Multiple executors: Co-executors can complicate decision-making and paperwork. Co-executors can waive appointment so a single executor acts, or the estate can appoint a professional (e.g., a bank trust department)—often suitable for large estates.
  • Intrusive heirs: Heirs who try to remove property before legal distribution can force the executor to secure assets and enforce the will’s terms.
  • Timing: Executors cannot usually distribute inheritances until debts, claims, and taxes are resolved.

Personal liability and costs

An executor has fiduciary duties and may be personally liable for mismanagement. To reduce risk, keep complete records, follow court directions, and seek legal or tax advice when necessary. Hiring attorneys or tax professionals helps ensure compliance but increases estate expenses.

Brief FAQs

Conclusion

The executor enforces the deceased’s final wishes by managing assets, settling debts and taxes, and distributing property to beneficiaries. The role requires organization, record-keeping, and sometimes professional assistance—important considerations when naming or accepting the duty.