Executor of a Will: Responsibilities and Liability

Executor of an Estate

The Executor (Personal Representative or executrix (female 1)) person (or those selected) named in a will, chosen by the deceased to taken upon the administrating the provisions of the will regarding the estate. 2 The executor must be at least eighteen years or older, and no prior felony convictions. Most executors usually are lawyers, accountants or family member. 13 If the deceased does not have a will, courts appoint an administrator performing the same duties as an executor but may not be best educated or suited for this appointment, besides no knowledge how the deceased preferred to dispense assets to any heirs, when a will is not written. Also, when the deceased selects their own executor, person usually knows type of memorial services the deceased preferred. 17 The duties of the executor begin from the time of death until the last state and federal taxes are prepared and submitted. Also, executor responsibility includes accounting assets in the estate, and final distribution to the beneficiaries. One or more

Co-Executors of the Estate maybe selected such as a certified public accountant, lawyer or financial advisor to help guide the executor through the process. In the Will of the deceased a Successor Executor is named, if the original nominee unable to take upon the responsibility or predeceases the deceased. 2 During the time the Will is prepared, named as executor and successor (Use full legal names recognized rather than a nickname or abbreviations 12) should be notified. Anyone or both may choose to accept or decline the duties and legal liability of responsibilities. 3

An executor has legal fiduciary responsibility: "You must act with utmost honesty, impartiality, and scrupulousness on behalf of the deceased and the estate's beneficiaries." Besides overcoming emotion loss of a loved one, should not interfere making rational decisions.16