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.

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 ?
3--What differences are there in emotional load and speech styles of men and women executors?
"If you have already appointed a professional executor in your will but are wondering whether you got the best deal, it might be worth reviewing.
Executors who intend to elect portability should complete Section B of Part 6 of the form if any of the estate's assets are being transferred to a qualified domestic trust, and Section C to calculate the deceased spouse's unused exclusion.
* The professional executor will assist in notification and/or therapeutic issues to be addressed with my clients.
Executors actions in dealing with an estate are frequently tested by the likes of HM Revenue & Customs, charity beneficiaries, difficult or disgruntled beneficiaries or co-executors.
Aside from details about the collection itself, your executor will want to know who to turn to in the dealer community.
The Chamber of Executors of Macedonia informed that only in the course of last year there had been over 41,000 cases in which the state was the creditor.
The OFT is now working with the Solicitors Regulation Authority and the Institute of Professional Will Writers to highlight consumers' rights to shop around or appoint a lay executor.
More recently in Thomas v Gouwens, Gouwens was sued both individually and as executor for breach of a written contract to sell a home.
The Solicitors Regulatory Authority (SRA) carried out a lengthy investigation into the firm and found more than 4,500 of its wills had either SPS or Mr Share named as executor.
The executor's handbook; a step-by-step guide to settling an estate for executors, administrators, and beneficiaries, 3d ed.
In both examples, where the relationship between the executors and family is fraught, or where an executor refuses to give their consent given the will's contents, the only option may be to take legal action to remove them.