An executor is a person who manages estates in accordance with the terms of a decedent’s Will. Estate administration requires a combination of legal, accounting, and mediation abilities.
An executor is the person designated in a decedent’s final will and testament as the person in charge of the estate’s administration. If you are appointed executor of an estate and the probate court agrees to appoint you, you must gather and inventory the assets, pay the debts, taxes, and administrative charges, and then distribute the remaining assets to those who are entitled to them. As executor, you must account to the beneficiaries and the court for your actions.
Depending on the size of the estate, estate administration may be a difficult task that requires a combination of legal, administrative, accounting, and, in some cases, personal mediation abilities. Most estates are settled within six months following the executor’s appointment, although it might take considerably longer depending on the intricacy of the estate administration. The task needs a significant amount of time and energy over the course of 6 or more months. Hiring an attorney to help you may be required or advantageous.
