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Executor

An executor is the person who is responsible for setting an estate for a deceased person. The executor is a person who has been chosen by the deceased. Being chosen to be an executor of someone's estate is a large responsibility and shows that the deceased has a great trust in the person chosen. The executor's task is to make sure the decedent's last wishes are carried out completely. The executor's responsibilities include overseeing the financial affair s of the deceased and protecting assets until all debts of the estate are resolved. After all debts against the estate are settled, the executor is responsible for overseeing the distribution according to the deceased's will. The executor's job can be difficult or simple, depending on the size and complexity of the estate. Individuals should choose their executor based on this and choose someone with the necessary financial and or legal background if necessary.

Fast Facts

  • Executor's of estates are not required to have a financial or legal background although they are required by law to be honest, impartial and diligent in carrying out the task.
  • Executors are entitled to payment for their services the amount of which varies according to each state; friends and family members often don't charge the estate for these services.

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