{"id":6788,"date":"2025-05-09T06:00:00","date_gmt":"2025-05-09T13:00:00","guid":{"rendered":"https:\/\/www.quicken.com\/blog\/?p=6788"},"modified":"2025-05-12T09:05:07","modified_gmt":"2025-05-12T16:05:07","slug":"what-is-an-executor","status":"publish","type":"post","link":"https:\/\/www.quicken.com\/blog\/what-is-an-executor\/","title":{"rendered":"What Is an Executor? Responsibilities and How to Carry Them Out"},"content":{"rendered":"\n<p>Processing the death of a loved one is difficult. Amid the swirl of emotions, there\u2019s a financial aspect of that transition that also requires attention. It\u2019s an executor\u2019s job to manage that responsibility, distributing the wealth that someone spent a lifetime building.<\/p>\n\n\n\n<p>If you\u2019ve recently been appointed executor \u2014 or if you\u2019re currently preparing your own will \u2014 you\u2019ll need to know what the job entails. In this article, we\u2019ll explore the role and responsibilities of an executor and walk you through what it takes to carry out those last wishes with dignity.\u00a0<\/p>\n\n\n\n<div class=\"blue-box\">\n    <p>See how Quicken LifeHub makes things easier on your executor.<br>\n    <a href=\"https:\/\/www.quicken.com\/products\/lifehub\/\" class=\"cta-link\">Continue \u2192<\/a><\/p>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\">Executor \u2014 definition and importance<\/h2>\n\n\n\n<p>An executor is legally responsible for following the terms of a deceased person\u2019s will. They carry out final wishes, pay any outstanding debts, and distribute the remainder of the estate, including everything left that the deceased person owned \u2014 cash, personal belongings, real estate, and so on.&nbsp;<\/p>\n\n\n\n<p>Typically, the executor is named in the will. In fact, most wills list more than one potential executor, in order of preference. If the first cannot do the job for some reason, the second can step in, and so on.&nbsp;<\/p>\n\n\n\n<p>If the will is unclear, or if none of the named executors can serve, the court will name an executor.&nbsp;<\/p>\n\n\n\n<p>The responsibilities are significant \u2014 in some cases, executors can be held personally liable if they make mistakes managing the estate. The job also can take a substantial amount of time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Executor responsibilities<\/h2>\n\n\n\n<p>An executor\u2019s primary responsibility is following the last wishes laid out in the dearly departed\u2019s will. One of the biggest tasks is ensuring that the estate\u2019s assets and liabilities (debts) are fully accounted for and divided properly among the beneficiaries (the people named in the will).<\/p>\n\n\n\n<p>Executors may also handle several other tasks, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Making funeral arrangements<\/li>\n\n\n\n<li>Informing loved ones, creditors, and the government of the deceased\u2019s death<\/li>\n\n\n\n<li>Paying outstanding taxes and debts<\/li>\n\n\n\n<li>Collecting funds owed to the estate<\/li>\n\n\n\n<li>Managing and safeguarding the estate until it\u2019s distributed<\/li>\n\n\n\n<li>Walking the estate through probate (if required) \u2014 the process of legally validating the will and the executor<\/li>\n<\/ul>\n\n\n\n<p>You can name almost anyone over 18 as your executor, as long as they have no felony convictions. Ideally, they should be well-organized and prepared to handle financial and legal matters.&nbsp;<\/p>\n\n\n\n<p>Most people choose trusted family members, close friends, and\/or the beneficiaries of the will as executors or co-executors. You can also appoint certain professionals as executors, such as an accountant or lawyer.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">If the testator is still alive, what should I do?<\/h2>\n\n\n\n<p>If you\u2019re named executor of a will and the testator (the person whose will it is) is still alive, do what you can to get organized ahead of time. The more information you gather now, the easier it will be to locate important documents, people, and accounts later.&nbsp;<\/p>\n\n\n\n<p>Start your preparations by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Writing down the names and contact information of the testator\u2019s attorneys and financial professionals<\/li>\n\n\n\n<li>Gathering important financial information the testator would like to share, like the locations of their:\n<ul class=\"wp-block-list\">\n<li>Financial assets (bank accounts, investment accounts, etc.)&nbsp;<\/li>\n\n\n\n<li>Debts<\/li>\n\n\n\n<li>Insurance policies<\/li>\n\n\n\n<li>Real estate holdings<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Going over the will to ensure you understand which assets will pass to which beneficiaries\n<ul class=\"wp-block-list\">\n<li>If possible, discussing the will with the testator and the beneficiaries present can prevent unexpected surprises later<\/li>\n\n\n\n<li>Be sure you can identify each of the items named in the will, especially when it comes to personal possessions such as art or furniture<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Identifying where the original will and list of assets are stored, and how to access them when needed<\/li>\n\n\n\n<li>Discussing the testator\u2019s last wishes for their funeral and cremation or burial<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">If I found out I\u2019m the executor after the testator has passed away, what should I do?&nbsp;<\/h2>\n\n\n\n<p>If you learn that you\u2019re an executor <em>after <\/em>the testator passes away, your first step is to get an official death certificate and locate the decedent\u2019s attorneys and financial professionals. (The probate court or the official who notified you of the death may be able to help.)&nbsp;<\/p>\n\n\n\n<p>Work with the probate court \u2014 and, ideally, an attorney \u2014 to get the documentation you need to carry out your duties. Banks, for example, will require documentation of your right to manage the estate before granting you access to accounts, safety deposit boxes, and so on.&nbsp;<\/p>\n\n\n\n<p>You\u2019ll also need to inform the deceased\u2019s beneficiaries (people named in the will) and heirs (people who could inherit if there had not been a will). This isn\u2019t just a matter of letting people know about the death \u2014 it\u2019s a formal, legal process of notifying them that there\u2019s a will and that you\u2019re responsible for distributing the assets of the estate.<\/p>\n\n\n\n<p>There are specific rules in each state about how these people need to be notified. Check with a lawyer in your state, or pick up the forms at your local probate court and follow the instructions carefully.<\/p>\n\n\n\n<p>You\u2019ll also need to notify certain government bodies such as the IRS, DMV, and SSA of their passing.<\/p>\n\n\n\n<p>That said, not everyone feels comfortable acting as an executor. Being the executor of a will is especially difficult if you:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Live far away<\/li>\n\n\n\n<li>Have a busy work or family life<\/li>\n\n\n\n<li>Are in poor health<\/li>\n\n\n\n<li>Feel overwhelmed by grief or an executor\u2019s many responsibilities&nbsp;&nbsp;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Fortunately, you can easily step down and let the probate court appoint another executor.\u00a0<\/p>\n\n\n\n<div class=\"blue-box\">\n    <p>See how Quicken LifeHub can make an executor&#8217;s role easier.<br>\n    <a href=\"https:\/\/www.quicken.com\/products\/lifehub\/\" class=\"cta-link\">Continue \u2192<\/a><\/p>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\">How to execute the estate in 6 steps<\/h2>\n\n\n\n<p>Executing a will requires a lot of work, but preparation and setting expectations can help it feel less daunting. Though exact circumstances vary, the basic steps to executing an estate include:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Get organized<\/li>\n\n\n\n<li>Walk through the probate process<\/li>\n\n\n\n<li>Notify heirs, beneficiaries, and creditors<\/li>\n\n\n\n<li>Inventory, appraise, and maintain the estate\u2019s assets<\/li>\n\n\n\n<li>Manage the estate\u2019s finances<\/li>\n\n\n\n<li>Distribute the remaining assets<\/li>\n<\/ol>\n\n\n\n<p>Of course, it\u2019s important to remember that executor responsibilities vary by state and by the complexity of your situation. For questions about your specific circumstances, it\u2019s best to consult an attorney.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: Get organized<\/h3>\n\n\n\n<p>Start by tracking down a copy of the will if you don\u2019t already have one. If you don\u2019t know where it is, the deceased\u2019s family members or lawyers may be able to help.&nbsp;&nbsp;<\/p>\n\n\n\n<p>You\u2019ll also need at least 10-15 certified copies of the decedent\u2019s death certificate. (Find out where to get it using the <a href=\"https:\/\/www.cdc.gov\/nchs\/w2w\/index.htm\">CDC\u2019s Vital Records database<\/a>.) You\u2019ll need this document to prove the decedent\u2019s passing and your authority to act on behalf of the estate.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Walk through the probate process<\/h3>\n\n\n\n<p>Going through probate can sometimes take years and dozens of steps, but this section will condense it down to the essentials. In reality, not every estate goes through probate, as some states\u2019 inheritance laws eliminate or expedite the process.&nbsp;<\/p>\n\n\n\n<p>Still, you\u2019re usually required to file the will with the probate court, even if the will doesn\u2019t need to be formally probated. (Some states, for example, recognize self-proving wills, in which case the court\u2019s involvement in formally recognizing the will and the executor is minimal, making that part easier.)&nbsp;<\/p>\n\n\n\n<p>At this point, the court will appoint an executor according to the will.&nbsp;<\/p>\n\n\n\n<p>Assuming that\u2019s you, you\u2019ll need to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Determine if probate is required<\/li>\n\n\n\n<li>Identify assets that do and don\u2019t need to be probated<\/li>\n\n\n\n<li>Notify relevant parties of the ongoing case<\/li>\n\n\n\n<li>Appear in court to prove the will\u2019s validity or settle disputes<\/li>\n\n\n\n<li>Distribute assets according to probate rules<\/li>\n<\/ul>\n\n\n\n<p>Note that some executors may hire a lawyer for this process, particularly for large or complex estates.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 3: Notify heirs, beneficiaries, and creditors<\/h3>\n\n\n\n<p>Executors have a responsibility to notify certain entities of the deceased\u2019s passing, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Heirs and beneficiaries<\/li>\n\n\n\n<li>Creditors<\/li>\n\n\n\n<li>Government entities like the SSA, IRS, DMV, and Postal Service<\/li>\n\n\n\n<li>Financial institutions (banks, insurance companies, investment firms, etc.)&nbsp;<\/li>\n\n\n\n<li>Other entities with ties to the estate, like utility companies, landlords, and employers&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Contacting these entities allows them to make or release claims to the estate, fulfill end-of-life obligations (like paying out insurance policies), or cancel contracts and licenses. You should also contact the major credit bureaus and add a death notice to the deceased\u2019s credit report.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 4: Inventory, appraise, and maintain assets<\/h3>\n\n\n\n<p>As the executor, you\u2019re also responsible for locating, inventorying, and appraising the assets and debts of the deceased\u2019s estate. In other words, you have to figure out the estate\u2019s finances. (Typically, this occurs under the purview of the probate court.) The court \u2014 and you \u2014 will use this information to properly evaluate and distribute the estate\u2019s assets.&nbsp;<\/p>\n\n\n\n<p>Additionally, executors are required to secure and maintain the estate\u2019s assets until they\u2019re sold and distributed. For instance, you may arrange for maintenance and upkeep on real estate (paid for by the estate). You also may need to locate and protect personal property, heirlooms, and the contents of any safety deposit boxes.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 5: Manage the estate\u2019s finances<\/h3>\n\n\n\n<p>A key focal point, especially for beneficiaries, is the management of the estate\u2019s finances. Every situation is different, but the executor should be prepared to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>File an income tax return for the estate<\/li>\n\n\n\n<li>Pay any relevant federal or state estate taxes<\/li>\n\n\n\n<li>Pay any relevant property taxes until the property has been distributed<\/li>\n\n\n\n<li>Track down any incoming payments like life insurance or final paychecks<\/li>\n\n\n\n<li>Pay off or dispute outstanding debts like credit card bills<\/li>\n\n\n\n<li>Make essential payments, like mortgage and utility bills, until the estate is settled<\/li>\n\n\n\n<li>Help beneficiaries access benefits like life insurance, annuity, or Social Security payments<\/li>\n<\/ul>\n\n\n\n<p>While that sounds like a lot, you can make the process a little easier by opening a bank account for the estate. Then, all incoming and outgoing payments can be routed through a single account.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 6: Distribute the remaining assets<\/h3>\n\n\n\n<p>One of the very last steps executors take is actually distributing remaining or non-probate assets to heirs and beneficiaries.&nbsp;<\/p>\n\n\n\n<p>If there\u2019s an ironclad will in place, this process is relatively simple \u2014 just follow the deceased person\u2019s final wishes. Otherwise, you may have to follow rulings from the probate court or state intestacy laws.&nbsp;<\/p>\n\n\n\n<p>Along the way, be sure to have the beneficiaries acknowledge <em>in writing <\/em>that they\u2019ve claimed their inheritance and what they received.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final thoughts<\/h2>\n\n\n\n<p>Executing a will is a final chance to honor the wishes and memory of your loved one \u2014 but that doesn\u2019t make it easy. It requires a lot of time, energy, and paperwork to get it right.&nbsp;<\/p>\n\n\n\n<p>However, you can make the process a little easier by getting organized. Having all your documents and important contacts in one place simplifies the process when the time comes.&nbsp;<\/p>\n\n\n\n<p>Ultimately, that can ease some of the stress that accompanies mourning \u2014 and celebrating \u2014 the memories, experiences, and accomplishments of a life well lived.<\/p>\n\n\n\n<div class=\"blue-box\">\n    <p>See how Quicken LifeHub eases difficult life transitions.<br>\n    <a href=\"https:\/\/www.quicken.com\/products\/lifehub\/\" class=\"cta-link\">Continue \u2192<\/a><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Choosing or being named the executor of a will is an important job. Learn what an executor does, where to start, and how to carry out the responsibilities well.<\/p>\n","protected":false},"author":12,"featured_media":6791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"What Is an Executor? Definition and Guidance | Quicken","_seopress_titles_desc":"Choosing or being named the executor of a will is an important job. 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