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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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Articles

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  • Duties of an Executor of a Will

    An executor is the person selected in a will to settle that person’s estate. Essentially, this individual is i...
    • Site: willsandtrustslawfirms.com
    • 28 of 29 user(s) found this useful
  • Understanding Executor Responsibilities

    When there is an Estate that needs to be settled, an Executor is responsible for ensuring that the orders or d...
    • Site: estateplanninglawfirms.com
  • Choosing an Executor of a Will

    Drafting and finalizing a will can be the most difficult thing to do for a person in their lifetime because th...
    • Site: willsandtrustslawfirms.com
    • 1 of 1 user(s) found this useful
  • Understanding the Executor's Deed

    An executor's deed is a deed used by an executor to convey or transfer property out of the estate of a person ...
    • Site: realestatelawyers.com
  • Change or Remove an Executor

    It can be a difficult decision for a testator to change executor of will because he or she has picked that per...
    • Site: estateplanninglawfirms.com

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