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What Job Does An Executor Fulfill?

On Behalf of | Feb 24, 2017 | Firm News

An executor has a very specific job. It’s an honor to be an executor, because it means someone trusts you enough to execute his or her last will and testament. Of course, it can also be a lot of hard work and a confusing position to be in.

You have a large responsibility to make sure the person’s will and last wishes are carried out. You must perform the actions required of your role as executor in good faith. You aren’t entitled to proceeds from property sales from the estate, and you may only be entitled to a fee that compensates you for the administration of the will.

There are several duties you have as an executor. First, you have to find all the assets the person owned. You must secure these assets and then manage them appropriately. You need to wrap up the deceased’s affairs, which means you need to take care of debts, taxes and other such requirements. You’ll need to create a bank account for the estate and get into contact with those in the will. It’s your job to make sure anyone named in a will receives what he or she is owed.

Your primary job is to make sure all property is distributed to the correct entities. If no one is in the will, then it’s your job to break up the estate in accordance with state law.

Executors have other minor duties as well. If you’re being asked to be an executor to a parent or loved one’s estate, it’s a wise choice to talk to your attorney about everything you’ll need to do in the future.

Source: FindLaw, “What Does an Executor Do?,” accessed Feb. 24, 2017