Executor
Also called: Personal representative, Administrator
The person legally responsible for settling a deceased person's estate — paying debts, filing taxes, distributing assets per the will. Named in the will, or appointed by the court if there is none.
If the deceased had a will, it names an executor. The court formally appoints that person and issues 'letters testamentary' authorizing them to act. If there is no will, the court appoints an administrator (usually a close family member) and issues 'letters of administration.' Both roles are functionally the same job.
The executor inventories all assets, opens an estate bank account, notifies creditors, pays valid debts, files the deceased's final income tax return and the estate's tax return, sells or transfers property, and distributes what remains to beneficiaries. The process typically takes 6 months to 2 years.
Most US states allow executors to take a fee for the work (typically 2–5% of the estate value), though family executors often waive it. The executor is personally liable for mistakes — paying creditors out of order, missing the tax deadline, distributing assets too soon — so larger or complicated estates often justify hiring a probate attorney.
- Probate— The court-supervised process of validating a will (if there is one), paying debts, and transferring the deceased's property to heirs. Required in most cases, though some assets bypass it.
- Letters testamentary— The court document that proves the executor has legal authority to act on behalf of the estate. Required to access the deceased's bank accounts, sell property, and most other estate business.
- Intestate— Dying without a valid will. State law (the 'intestate succession statute') determines who inherits what — usually spouse and children first, then parents, siblings, and outward.
This definition is general consumer information, not legal, medical, or financial advice. Industry practices and regulations change occasionally; verify before relying on anything here for a specific decision.
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