Guide · Documents
Executor of an estate: duties and responsibilities
What an executor of an estate actually does, the legal and financial responsibilities, and how to avoid personal liability.
An executor is the person named in a will to settle the estate. The core duties are to locate the will, petition the probate court, gather and inventory assets, notify heirs and creditors, pay valid debts and taxes, and distribute what remains to the named beneficiaries. An executor has a fiduciary duty and can be personally liable for serious mistakes.
Step by step
Locate the will and read it carefully
Find the original signed will. Read it through twice and note the beneficiaries, any specific bequests, and whether an alternate executor is named in case you decline to serve.
Petition the probate court
File the will and a petition for probate at the county court where the deceased lived. The court issues letters testamentary, the one-page order that proves your authority to act for the estate.
Open an estate bank account
Apply to the IRS for an EIN with Form SS-4, then open a checking account in the name of the estate. Never mix estate money with your own; commingling is one of the fastest ways to create personal liability.
Inventory and value the assets
List every asset the deceased owned in sole name, with a date-of-death value. Real estate, vehicles, accounts, personal property, and digital assets. Most courts require an inventory within sixty to ninety days.
Notify heirs, beneficiaries, and creditors
Send written notice to known heirs and creditors, and publish notice in a local newspaper if your state requires it. The notice period is usually three to six months.
Pay valid debts and taxes
Pay claims in the priority order your state sets out, then file the final IRS Form 1040 for the deceased and Form 1041 for estate income. Do not distribute to beneficiaries before debts and taxes are settled.
Distribute the remainder and close the estate
Distribute what remains under the terms of the will or, if no will, under your state's intestate succession order. File a final accounting and ask the court to close the estate and discharge you as executor.
Common questions
Can I refuse to serve as executor?
Yes. You can decline before the court appoints you by filing a renunciation. The alternate executor named in the will, or another qualified heir, can serve instead.
Do executors get paid?
Most states allow reasonable executor compensation, either a flat percentage of the estate (often two to five percent) or an hourly rate the court approves. A spouse or child often waives the fee, since it is taxable income.
Can an executor be held personally liable?
Yes. Distributing assets before paying creditors and taxes, mishandling estate funds, or failing to act in the beneficiaries' interest can all create personal liability. When in doubt, consult a probate attorney before acting.
How long does an executor stay on the job?
Most estates close in six to twelve months. Larger estates, real property in several states, or any dispute can extend the role to two years or more.