What an executor does, and how to choose one

How someone becomes an executor

You name an executor in your will. After you die, the probate court confirms the appointment and issues a document, often called letters testamentary, that proves they have authority to act. Banks and other institutions ask to see it.

If there is no will, the court appoints someone, usually a close relative, to do the same job. That person is often called an administrator. Some states use the term personal representative for both.

What the job involves

1. Find the will and file it with the probate court.
2. Order death certificates and tell the organizations that need to know.
3. Make a list of everything the person owned and owed.
4. Keep property safe and insured, and keep paying what must be paid, such as a mortgage.
5. Open an estate bank account and collect money owed to the estate.
6. Notify creditors and pay valid debts from the estate.
7. File the final tax returns.
8. Give what is left to the people named in the will, and report to the court.

For a simple estate this can take a few months. Where there is property to sell, a business, or a disagreement in the family, it can take much longer. Many states have a shorter process for small estates, and the court clerk can say whether it applies.

What an executor is not

• They do not decide who gets what. The will does.
• They are not personally responsible for the person's debts. Debts are paid from the estate.
• They do not have to do it alone. An executor may pay for help with the paperwork or the tax return, and the estate covers the cost.
• They do not have to accept. Someone named in a will can decline, which is why a backup matters.

Who to choose

The best executor is not always the eldest child or the closest relative. Look for someone who is:

• Organized and steady. The job is mostly forms, phone calls and keeping records.
• Honest and fair. They will handle money that belongs to other people.
• Likely to outlive you and well enough to take it on.
• Able to deal with your family. Someone everyone trusts is worth more than someone who is good with numbers.

Living nearby helps but is not essential. Some states have extra rules for executors who live in another state, so check before you name one. If nobody in your life fits, a bank trust department or a professional fiduciary can do the job for a fee.

Ask them, then equip them

Ask the person before you name them, and name a second choice as well. Then tell them where the original will is, where your list of accounts and contacts lives, and how they would get into your phone and email. An executor who starts with a list can do in weeks what otherwise takes months of opening mail.