executor

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Related to Executors: Joint executors

Executor

An individual or trust institution nominated in a will and appointed by a court to settle the estate of a deceased person.

Executor/Executrix

A person who administers the estate of a deceased person. The executor (if male) or executrix (if female) is responsible for gathering all of the decedent's assets and giving them to the appropriate beneficiaries. He/she is often a family member or lawyer who is either appointed in the decedent's will or by a court. The executor/executrix has a fiduciary responsibility to act on behalf of the decedent and to fulfill, as closely as possible, the wishes set forth in the will. Persons under 18 and convicted felons cannot serve as executors.

executor

One named in a will to fulfill the wishes of a decedent regarding the disposition of assets. Today, the word refers to both males and females serving in that capacity. At one time, executor referred only to males,and the female was called an executrix.

References in periodicals archive ?
If the executors fail to tell HMRC about all assets owned by the deceased, or gifts made, they could be liable for penalties.
If no executor or administrator is appointed to the estate, any person in actual or constructive possession of any property of the decedent is required to pay the entire tax to the extent of the value of the property in his possession (IRC section 2203).
The executor of the deceased spouse's estate must make the portability election on a timely filed estate tax return that includes a computation of the DSUE.
Prior to the rise of digital, executors and other fiduciaries could legally collect physical assets about the decedent without fear of violating privacy laws.
It's possible a successor executor or trustee may need to be named.
The right executor can help minimize complications and manage the time it takes.
HAVE you ever been asked to be someone's Executor, or do you know that you are named as an Executor under the terms of someone's Will?
I direct my executors to pay the following by way of gifts to the institutions mentioned.
Data collection of the study is field work, that is from among the radio programs, several programs where there are both female and male executors, are selected as the data of the research and the obtained results that are the linguistic corpus of the research, are written down on papers and the analysis of this linguistic corpus, is implemented as based on selecting the terms and the speech style and the results are analyzed and explained based on this criteria.
In addition to a percentage fee for acting as executor, professionals can also charge an hourly fee - taking a big slice from the average UK inheritance of PS180,000.
In 2001 the executors of the late Lord Howard sold it at auction, where it fetched a hammer price of 9.