What does the executor of a will do?

Question

My parents called and told me that they've made me the executor of their will when both of them pass away. I know naming an executor makes it easier to deal with their property after they've died, but I'm not sure I understand, what exactly does an executor do?

Answer 1

An executor is the person appointed to administer the estate of a person who has died leaving a will which nominates that person. Unless there is a valid objection, the judge will appoint the person named in the will to be executor. The executor must insure that the person's desires expressed in the will are carried out. Practical responsibilities include gathering up and protecting the assets of the estate, obtaining information in regard to all beneficiaries named in the will and any other potential heirs, collecting and arranging for payment of debts of the estate, approving or disapproving creditor's claims, making sure estate taxes are calculated, forms filed and tax payments made, and in all ways assisting the attorney for the estate (which the executor can select).

Answer 2

Inventory all assets, settle all debts, pay Federal and State Taxes and disburse what is left to heirs.  Large estates the executor will hire a lawyer, estate pays, to handle all the legal aspects.  Will needs to be probated, an accounting of all assets, sign off by heirs.