An Executor is a person or institution appointed by a court to be responsible for carrying out the terms of your Will, and overseeing the administration of your estate. The responsibilities of an Executor might vary by U.S. state and type of estate, but generally include:
- Interacting with the probate court (Or other court with jurisdiction over probate proceedings)
- Identifying and taking control over probate assets (Such as bank accounts, accrued salary, personal property, life insurance or retirement proceeds payable to the estate, and/or business interests held by the decedent)
- Paying taxes, bills, and expenses from estate assets
- Determining the distributions to be made from the estate to beneficiaries and heirs
- Working with attorneys and/or accountants during the administration of the estate
- Maintaining detailed accounts, records and, if required, filing an inventory of assets and accounting of assets with the court
Keep in mind that some estates may require additional tasks. Some of the tasks above also may not be required for other estates.