What Is an Executor?

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An executor (also called a personal representative in many states) is the person responsible for carrying out the terms of a will and administering the deceased person's estate.

Duties of an executor:

File the will with the probate court.

Notify beneficiaries, creditors, and relevant institutions of the death.

Inventory assets — Locate and value all estate property.

Manage assets — Protect and maintain estate property during administration.

Pay debts — Settle outstanding bills, loans, and obligations.

File taxes — File the deceased's final income tax return and any estate tax returns.

Distribute assets — Transfer property to beneficiaries according to the will.

Close the estate — File a final accounting with the court.

Who can be an executor. Generally any competent adult. Most people choose a spouse, adult child, trusted friend, or professional fiduciary. Some states restrict non-residents from serving.

Executor compensation. Executors are typically entitled to reasonable compensation, which varies by state (often 2-5% of the estate value or an hourly rate). Family members sometimes waive compensation.

Fiduciary duty. Executors have a legal obligation to act in the best interests of the estate and its beneficiaries. They must avoid conflicts of interest and cannot use estate assets for personal benefit.

Declining the role. An executor can decline to serve. The court then looks to alternate executors named in the will or appoints an administrator.

Liability. Executors can be held personally liable for mismanagement, improper distributions, or failure to pay taxes.

This is legal information, not legal advice.