Are you planning your estate or been named in someone’s will? Understanding the role of a will executor is crucial for smooth estate management after someone passes away In my years helping folks with estate planning, I’ve seen how important this role really is—yet so many people don’t fully get what it involves!
We will talk about everything you need to know about executors, from their basic duties to the problems they might face. Believe me, this information could help your family a great deal in the future.
The Basics: What Is a Will Executor?
An executor, who is also known as a personal representative or administrator in some states, is the person named in a will to handle the estate of a person who has died. This trusted person’s important job is to carry out the deceased’s last wishes, take care of their property, and make sure everything goes to the right people.
When someone dies, an executor is like the “project manager” for their estate. They are in charge of making sure that all the necessary steps are taken to fully transfer assets, settle debts, and close accounts.
Who Can Serve as an Executor?
You might be surprised to learn that most of the time, executors don’t need to have any special skills. However, there are some basic requirements:
- Must be at least 18 years old
- Must be mentally competent
- Cannot have felony convictions (in most states)
- May need to be a resident of the state where probate occurs (though some states allow out-of-state executors with certain conditions)
Executors are typically family members or close friends, but they can also be professionals like lawyers, accountants, or financial institutions. And yes, in most states, a beneficiary can also serve as the executor—this arrangement is actually quite common!
The 10 Key Duties of a Will Executor
Being an executor isn’t just a ceremonial title—it involves real work and responsibility. Here’s a breakdown of the main duties an executor typically handles:
1. Determine the Appropriate Probate Process
Not all estates require full probate proceedings. Depending on state laws and the size of the estate, you might qualify for:
- Formal probate (for large/complex estates or when there are disputes)
- Informal probate (simplified process for uncomplicated estates)
- Small estate procedures (for estates below certain thresholds—ranging from $25,000 to $275,000 depending on your state)
2. Locate and File the Will with Probate Court
This crucial first step kicks off the entire process:
- Find the original will (check important documents, safe deposit boxes, attorney files)
- Get certified death certificates (10-15 copies is usually sufficient)
- File the original will with the probate court within state deadlines
- Petition for letters testamentary (your formal authority as executor)
Pro tip: State filing deadlines vary significantly! North Carolina requires filing within 60 days of death, while Illinois gives you just 30 days after learning of the death. Don’t wait too long, or you could face penalties.
3. Notify Banks, Creditors, and Government Agencies
You’ll need to inform various organizations about the death, including:
- Social Security Administration (immediately!)
- Banks and investment companies
- Credit card companies and loan servicers
- Insurance providers
- Employers and pension administrators
- IRS, state tax authorities, Medicare/Medicaid
- Utility companies and subscription services
Most require a death certificate and proof of your executor authority, so keep detailed records of all notifications.
4. Represent the Estate in Court
As executor, you’re the legal face of the estate. This means:
- Attending probate hearings and status conferences
- Filing required reports and accountings
- Responding to creditor claims and beneficiary disputes
- Getting court approval for major estate decisions
- Defending against will contests or legal challenges
While simple matters might not need a lawyer, complex estates often benefit from attorney assistance, especially with business interests, tax issues, or family disputes.
5. Set Up an Estate Bank Account
This step is super important for keeping the estate’s finances separate and organized:
- Get an employer identification number (EIN) from the IRS
- Open an estate checking account using the EIN and your letters testamentary
- Transfer liquid assets from the deceased’s accounts to the estate account
- Track all deposits and expenditures carefully
Remember: document EVERYTHING with receipts! You’ll need this paper trail for the final accounting.
6. Inventory and Protect Estate Assets
Creating a complete inventory isn’t just good practice—it’s often legally required:
- Real estate (homes, rental properties, vacant land)
- Financial accounts (checking, savings, investments)
- Personal property (vehicles, jewelry, artwork, collectibles)
- Business interests
- Digital assets (online accounts, cryptocurrency)
- Intellectual property (patents, copyrights)
Most states require professional appraisals for real estate and valuable items. You’ll also need to take steps to protect these assets from loss, theft, or damage during the probate process.
7. Maintain Estate Property
Until assets are distributed or sold, you’re responsible for their upkeep:
- Keep real estate in good repair and maintain insurance
- Make mortgage payments and pay property taxes
- Secure vacant properties
- Maintain vehicles and other depreciating assets
- Preserve business operations if necessary
8. Pay Debts and Taxes
Before distributing assets to beneficiaries, you must settle the estate’s financial obligations:
- Review financial records to identify creditors
- Publish notice to creditors (often required by state law)
- Send direct notices to known creditors
- Evaluate and prioritize claims
- File the deceased’s final income tax return
- File estate tax returns if applicable
Don’t worry—these payments come from the estate itself, not your personal funds. If the estate can’t cover all debts, courts will determine payment priority.
9. Distribute Assets According to the Will
Finally, the moment heirs have been waiting for! But first:
- Verify all creditor claim periods have expired
- Obtain tax clearances
- Interpret the will’s provisions carefully
- Handle specific bequests before residuary distributions
- Coordinate with trustees if the will establishes trusts
- Get signed receipts from beneficiaries
10. Close the Estate
After all assets are distributed, you’ll need to:
- Dispose of any unclaimed property according to state law
- Prepare and file the final accounting with the court
- Get court approval and formal discharge as executor
- Cancel the estate’s EIN and close the bank account
- Distribute any remaining funds
It’s wise to keep records for several years afterward, in case questions arise.
Common Challenges Executors Face
The executor journey isn’t always smooth sailing. Here are some typical hurdles you might encounter:
- Family conflicts: Disagreements among beneficiaries can complicate even simple estates
- Time commitment: The process can take 6-18 months for straightforward estates and several years for complex ones
- Hidden assets: Tracking down all property and accounts can be difficult
- Tax complications: Ensuring all tax obligations are met without personal liability
- Emotional burden: Handling these tasks while grieving is tough
FAQs About Will Executors
What’s the first thing an executor should do after someone dies?
Immediate priorities include securing property and documents, getting death certificates, arranging funeral services, locating the will, notifying family, petitioning for formal executor authority, and gathering financial documents. Contacting the deceased’s attorney (if they had one) is also wise.
Can an executor also be a beneficiary?
Yes! This is actually pretty common. Many people name their spouse or adult children as both executor and primary beneficiary. The key is that executor-beneficiaries must still act impartially and in the best interests of ALL beneficiaries, not just themselves.
What happens if an executor can’t or won’t serve?
If your named executor declines or can’t serve, any backup executor you’ve designated steps in. If there’s no backup, the court will appoint someone—typically a surviving spouse or adult child. That’s why it’s so important to have these conversations during life to ensure your chosen executor is willing and able to serve.
Is an executor personally liable for estate debts?
Generally no, as long as they follow proper procedures for identifying and paying creditors according to state laws. However, executors can become personally liable if they distribute assets before paying legitimate debts or if they act negligently or breach their fiduciary duties.
How much does an executor get paid?
Compensation varies by state. Some states use percentage-based fees (typically 2-4% of the estate value), while others allow “reasonable compensation” based on time spent and complexity. Family member executors often waive compensation, especially when they’re also beneficiaries.
Final Thoughts: Choosing the Right Executor
Selecting the right executor is a crucial part of estate planning. You want someone who is:
- Trustworthy and has integrity
- Organized and detail-oriented
- Available and willing to commit the necessary time
- Financially savvy (or at least comfortable with basic financial concepts)
- Good at resolving conflicts and remaining neutral
Remember that being an executor is a significant responsibility that requires time, effort, and careful attention to detail. If you’re writing your will, choose your executor wisely. And if you’ve been named as an executor, don’t hesitate to seek professional help from attorneys, accountants, or financial advisors if needed.
The executor role might seem overwhelming, but with proper preparation and support, it’s manageable. After all, serving as someone’s executor is one of the last and most meaningful ways you can honor their memory and wishes.
Have you been named as an executor or are you considering who to appoint? Share your thoughts or questions in the comments below!
Disputes
- Choosing more than one executor: Choosing more than one executor makes a lot of paperwork and can lead to arguments. One or more of them might not have the money to deal with creditors or the knowledge to handle estate taxes. If the co-executors agree that only one person can serve, they don’t have to do their jobs. This waiver works well when co-executors believe in the person who is really in charge of the estate. You could also let the trust department of a bank do the work, which might work best for large estates.
- Intrusive Heirs: In some families, heirs go to the home of a deceased person to take the valuables or contents, even if the deceased person did not want this to happen. The will may give the executor some freedom in how they pay the heirs, such as the option to give them property or sell property and give the cash. The executor might have to protect the house and other assets and let the heirs know that this is the law.
Is an Executor the Same As a Trustee?
An executor carries out a person’s will, usually with the help of a probate court. A trustee, on the other hand, is in charge of a person’s trust. In some cases, the two may be the same individual, although they dont have to be.