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What is the role of an executor of a will?

Altoona, PA |

Need to know what power the executor has.

Attorney Answers 3

Posted

The primary purpose for the executor is to carry out the instructions of the Will. This is done by gathering the assets, liquidating them, if necessary, paying the administrative expenses, and then distributing assets to the beneficiaries. The court gives the executor legal authority to transfer title to the decedent's assets.

The executor is entitled to compensation for the work that needs to be done, which can be extensive. The executor can be personally liable, if anything is done improperly, so he/she generally needs to have an attorney to assist him/her.

James Frederick

***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!

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Posted

The executor is the personal representative of the estate and his/her role is to carry out the terms of the will. That includes gathering all the assets, seeing that all debts are paid, and in general carrying out the terms of the will.

This answer is for informational purposes only and may not be relied upon as legal advice.

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Posted

With all respect to the terrific answers given by my colleagues, I have a slightly different way of describing wills, probate estates and executors to my clients:

An estate is like a business (somewhat like a small corporation, if you will).

It has a corporate charter--the will--which must be registered with a governmental authority to take on legal power.
It has shareholders--the beneficiaries.
It has management--the executor, or executrix.
It has assets and bank accounts, receives income, and pays taxes and bills.
Its "business" is to carry out the purposes contained in the will and the purposes required by law.
And when it has carried out all these purposes, and pays the beneficiaries the shares to which they are entitled under the will, it goes out of business.

Now, to your question concerning the role of the executor:

It is much the same as the role of a Board of Directors to its Shareholders. The executor or executrix is the actual legal representative of the deceased. He or she has the power to carry out transactions just as the deceased could during his or her lifetime. He or she has the power to buy, sell, pay taxes and bills, open and close bank accounts, and report to the beneficiaries. He or she owes the beneficiaries the obligation of honest, prudent and legal dealing, and full disclosure of every dollar and every dime received and spent on behalf of the estate, so that the estate may accomplish its purposes with a minimum of expense and a maximum of benefit.

Again, my colleagues have given you terrific answers, but I hope my answer along with theirs is also helpful.

The materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this Web site or any of the e-mail links contained within the site do not create an attorney-client relationship between Flood and Masiuk, LLC and the user or browser. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.

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2 comments

James P. Frederick

James P. Frederick

Posted

A very unique perspective and analogy. I like it!

Joseph M. Masiuk

Joseph M. Masiuk

Posted

As always, thank you so much.

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