Executor of Estate
What is an executor of estate?
Updated April 1, 2022
The executor of an estate is the person or entity designated by the deceased to carry out his or her final wishes. Typically, the executor is a family member, friend, accountant, lawyer or a bank. If the deceased has failed to designate an executor, one will be appointed by the court.
The executor of an estate is the person or entity designated by the deceased to carry out his or her final wishes and sell their home. Photo: Melinda Gimpel/Unsplash
The executor, who is paid a commission based on the size of the estate, is responsible for:
- Estimating the value of the estate
- Paying off the deceased’s debts and taxes
- Distributing the assets, which include property, furniture, art and collectibles and cash, to the heirs after all debts have been rectified.
The executor’s job can take months or even years if the estate is sizable and complicated.