executor

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Executor

An individual or trust institution nominated in a will and appointed by a court to settle the estate of a deceased person.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Intensifier Frequency adjectives 1 A lot 20 2 Many 2 3 A great deal 2 4 much 2 5 more 2 6 Much more 1 7 rare 1 8 total 30 Table 3: The speech of women executors in order of frequency.
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.
Briefly, the executors of Lord Howard's estate put forward the argument that they owed no capital gains tax on the proceeds of the sale on the counter-intuitive basis that the painting was technically a 'wasting asset', and therefore not chargeable under the Taxation of Chargeable Gains Act 1992 (the 'Act').
The instructions also address an executor's use of a check box to opt out of electing portability of the unused portion of the exclusion amount.
Unfortunately, executors are frequently dragged into disputes surrounding the '' estate, irrespective of whether they have done anything wrong
"Unfortunately, those people have been harmed by the actions of the executors of Michael's estate," the statement read.
In general, the executor of the estate of a decedent who died in 2010 may make the Section 1022 election by filing Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent, on or before November 15, 2011.
We can try to cover every contingency (at least logically) in a document such as the one proposed here, but you never know exactly what will happen when your collection passes into an executor's hands.
there had been court executors. When it became clear that this system was not the most efficient, a new Law was passed by which the executors are not enough efficiently solving the cases in which the state is the creditor.
Courts have used the same reasoning to make executors personally liable for their torts and those of their agents, employees, or servants.
Yet even after the firm was banned from acting as executors, an undercover Sunday Mercury reporter found it was still offering the services at exorbitant prices.
Lawyer John Branca and music industry executive John McClain were named executors in a will that left his estate, valued at more than $500 million (Au307m), to a trust benefiting his three children, his mother and charities.