Investopedia | Wealth | Trust & Estate Planning
By Julia Kagan, May 30th, 2024
An executor of an estate is an individual appointed to administer the last will of a deceased person and carry out the instructions to manage the affairs.
They are appointed either by the testator or a court. Executors ensure all assets in the will are accounted for and transfer these assets to the correct beneficiary. Assets can include financial holdings, such as stocks or bonds, real estate, direct investments; or collectibles.
An executor is the individual who carries out one’s last will, ensuring that the stipulations and wishes of the deceased are carried out properly. Subject to probate court oversight, this will often include disbursing the estate’s assets, paying any taxes due, and covering outstanding debts.
Key Takeaways
- An executor administers a person’s estate upon their death.
- An executor may be named by the testator or by a court.
- The primary duty of an executor is to carry out the wishes of the deceased person based on instructions spelled out in their will or trust documents.
