Executor

An executor is the individual or firm named in a will to administer a deceased person’s estate. Executors have legal authority and a fiduciary duty to carry out the terms of the will, from managing finances to distributing property to beneficiaries.

What Does an Executor Do?

An executor is responsible for:

• Applying for a Grant of Probate
• Identifying and valuing estate assets and debts
• Paying any outstanding liabilities and inheritance tax
• Distributing assets to the named beneficiaries
• Keeping accurate records throughout the process

Legal Standing

Executors are accountable to beneficiaries and must act in accordance with the law and the wishes set out in the will. They may be personally liable if they act negligently or breach their fiduciary duties.

Who Can Be an Executor?

• Any adult over 18 years of age
• Professionals such as solicitors or trust companies
• Up to four executors can act jointly

It is common for family members, close friends, or legal professionals to be appointed.

Examples and Use Cases

• A solicitor is named executor in a client’s will and takes responsibility for administering the estate.
• A daughter acts as executor for her late father’s estate, managing property sales and distributing inheritances.

Mini-FAQ

Can executors be beneficiaries?
Yes. It is common for executors to also inherit from the estate.

Can an executor decline to act?
Yes. They may renounce the role formally or appoint a professional to act in their place.

Do executors get paid?
Lay executors typically do not receive payment, but professional executors may charge fees for their work.