Executor

Who Is the Executor?

An executor (called a personal representative in many states) is the fiduciary appointed by a will to administer the deceased's estate through the probate process. After the will is admitted to probate, the court issues letters testamentary that authorize the executor to act on behalf of the estate. The role lasts from the testator's death until final distribution, which typically takes nine months to two years depending on estate complexity.

Core Executor Duties

• Locate the will and file it with the probate court - Identify, inventory, and value the deceased's assets - Notify creditors, beneficiaries, and government agencies - Pay valid debts, funeral expenses, and administration costs - File the deceased's final income tax return and any estate tax returns - Manage estate assets prudently during administration - Distribute remaining assets according to the will - File a final accounting with the court and obtain discharge

Fiduciary Obligations and Compensation

Executors owe fiduciary duties of loyalty, care, and impartiality to the estate and beneficiaries. They must avoid self-dealing, maintain detailed records, and act in the best interests of the estate. Executors are entitled to reasonable compensation under state law (often a percentage of the estate value or hourly fees), as well as reimbursement of expenses. They may also retain attorneys, accountants, and other professionals at estate expense. If no executor is named, declines, or cannot serve, the court appoints an administrator instead.