Executor

An executor is an individual or institution appointed to administer the estate of a deceased person according to the instructions laid out in their will. The executor's primary role is to carry out the wishes of the deceased by managing and distributing the estate's assets to the rightful beneficiaries.

Key Responsibilities of an Executor:

• Administer the estate by identifying, collecting, and managing assets such as bank accounts, real estate, investments, personal property, and business interests.
• Pay debts and taxes owed by the deceased, including filing necessary tax returns and settling creditor claims.
• Notify creditors officially and handle any claims against the estate.
• Distribute assets to beneficiaries as specified in the will.
• Maintain records and accounts of the estate administration and, if required, file inventories and accounting reports with the probate court.
• Work with attorneys and accountants to ensure proper legal and financial handling of the estate.

Appointment and Legal Standing:

• Executors are usually named by the testator (the person who made the will) or appointed by a court if no executor is named or if the named executor cannot serve.
• They must be adults without felony convictions and can be family members, friends, or professionals such as lawyers or accountants.
• The executor holds legal title to the estate property during administration but must not use it for personal benefit unless allowed by the will.
• If someone acts without proper authority, they may be considered an executor de son tort and their actions can be ratified or challenged by lawful executors or administrators.

In summary, an executor is the legal representative responsible for ensuring that a deceased person's estate is managed and distributed according to their will, fulfilling both legal and fiduciary duties throughout the probate process.