As an executor, your job is to carry out the wishes in the will of someone who has died.
You need to:
- Find and value the deceased person's assets, like their home, bank accounts, and possessions.
- Pay any debts owed by the deceased, like funeral bills.
- Distribute whatever assets are left to the people named in the will.
You must handle the estate honestly and in good faith. You could be liable if you don't do your job right.
For example, if you distribute assets before paying taxes, you may have to pay those taxes yourself. Or if you distribute assets to the wrong people, you could be sued. You may also be liable to the estate if assets decrease in value because you failed to take proper action.
Be very careful in carrying out your duties as executor to avoid any personal liability.
Last Reviewed: July 24, 2023