Certainly you’ve heard the term executor when you have discussed writing a Will or preparing an estate plan. Let’s examine the legal definition of an executor and their role in carrying out your wishes for your estate.

An executor, or executrix if it is a female, is an individual appointed to handle the estate of a deceased person. The executor’s primary duty is carrying out the instructions and wishes of the deceased, in accordance with the terms of the Will. If a person dies intestate, which means dying without a Will, the court will appoint an someone – a personal representative – to handle these duties instead.

An executor of a Will not only ensures the deceased’s wishes are carried out, but they also have the responsibility of collecting the assets of the deceased, paying off any remaining liabilities and distributing property to the beneficiaries named in the Will. If the Will does not specify how the assets should be distributed, the executor is tasked with determining the beneficiary.

While many are familiar with an executor’s duties regarding property distribution, they don’t realize that the executor also files the appropriate paperwork with the probate court and notifies creditors of the passing. They are also responsible for filing the final income tax return of the deceased, as well as closing out the estate.

As you can see, it’s a large responsibility; but the executor doesn’t have to go it alone. Executors are able to work with estate or probate lawyers or hire financial advisors using funds from the estate if needed. It is also possible to name more than one person or institution as an executor, known as co-executors. This is the choice of those who wish to ensure that at least one person has legal or financial expertise and one is close to the family.

Choosing an executor is an important aspect of estate planning and writing a will. Working with a professional experienced in this area helps ease the burden and manage the process.

Legacy APC, A Trusts & Estates Law Firm is a member of the American Academy of Estate Planning Attorneys.

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