What Does it Mean to Be the Executor to a Will?

By Joseph Nicholson

The executor to a will is the person chosen by the probate judge to act as the administrator of a deceased person’s estate during the probate process. The executor is often someone who was nominated for this role in the will, but the judge makes the ultimate decision as to who will serve in this capacity. In addition to the personal obligations an executor might feel toward the deceased, the executor has legal responsibilities to the estate, its creditors and beneficiaries.

Fiduciary Duty

An executor is considered a fiduciary, which means the executor is held to a heightened standard with regard to handling of the estate’s financial matters. Fiduciary duties fall into two main categories. The duty of loyalty means that the executor must do what is in the best interests of the estate and its beneficiaries, not what is in his best interest or what he thinks is right. The duty of care means the executor must perform his basic functions with a certain reasonable level of competency.

Agency

In some circumstances, the executor may also be an agent of the estate and subject to the legal principles of agency. In general, an executor-as-agent must avoid conflict between his personal interests and those of the estate, act subject to the directions of the estate’s beneficiaries or the court, perform with reasonable diligence and act within the appropriate scope of authority. An executor may be called upon to defend the estate in court against creditor claims or to file claims against others on behalf of the estate, either of which would imply acting as an agent of the estate.

Protect your loved ones. Start My Estate Plan

Discharging Duties

The executor of a will must keep in mind the general principles of fiduciary duty and agency when carrying out the particular duties of the position. These duties include compiling an inventory of the estate identifying all assets that are properly part of the estate and their estimated value. The process will likely involve contacting banks, insurance companies, stock brokers, warehouses or any other institution that may be custodian of estate assets. To gain control of the estate assets from these private businesses, the executor must obtain and present a death certificate and letters testamentary showing her status as the executor. Another important obligation of the estate may be paying federal or state taxes, which the executor is responsible for filing in a timely fashion. If there are assets remaining after the obligations of the estate are satisfied, the executor must also ensure that the beneficiaries receive the property to which they are entitled.

Accountability

The executor can be held accountable for failure to perform her duties satisfactorily, and may be removed for wasting the value of the estate through poor management. Embezzlement, fraud or other malfeasance can also result in removal of an executor and the filing of a civil action against her. Before an executor is released from her obligations, she must file a final accounting with the court, which interested parties can review and use as a basis for their claims against the executor. In some states, the executor may even have to post a bond in court against the possibility of being sued for waste or malfeasance of the estate.

Protect your loved ones. Start My Estate Plan
What Are the Duties of an Executor of a Will in Missouri?
 

References

Resources

Related articles

How to Stop Estate Executors That Steal Everything

The executor of an estate is generally a person the deceased named in his will, a person who submits the will to probate and then obtains control of the deceased's affairs by qualifying as his personal representative. The executor has a fiduciary duty — a duty of trust and integrity — to the estate's beneficiaries. While most people try to appoint trustworthy individuals as their executors, the case sometimes arises where a dishonest executor needs to be removed.

Removal of an Executor Due to Hostility Toward Heirs

It’s usually rather difficult to have the executor of a will removed. The decedent nominated him in his will to handle his affairs, and courts tend to feel a moral duty to honor a decedent’s last wishes. However, many individuals name persons who they feel have the practical skills or business savvy to handle such a complex job, and they fail to consider their “people skills.” The chosen executor may be unable to deal with grieving or impatient heirs, or he might have a negative personal history with one of them. In either case, having him removed from office on this basis alone is generally difficult.

Executor of Will Responsibilities

An executor is someone who has been named in a will to administer the testator’s estate after he has died. The executor has a wide array of responsibilities to the decedent, the beneficiaries, the government and the court. The rules for executors vary from state to state, so it is important to verify the specific requirements for each jurisdiction.

LegalZoom. Legal help is here. Start Here. Wills. Trusts. Attorney help.

Related articles

Responsibilities of an Estate Executor in California

Probate is a court process that results in the distribution of the property of the deceased, known as the decedent, to ...

What Are the Qualifications for an Executor for an Estate?

Executors play a vital role in ensuring that your property passes according to your wishes after death. It is the job ...

Responsibilities of a Living Trust Executor

The executor of a living trust, normally referred to as the trustee, holds legal title to all trust assets but is ...

How to Find Out if the Executor of an Estate Cashed Insurance Checks

The executor of an estate is accountable to the beneficiaries, heirs and estate creditors for his administration of the ...

Browse by category
Ready to Begin? GET STARTED