What Is an Executor of a Will?
An executor is the person you name in your will to manage your estate after you die. They handle everything — from filing the will in court to distributing assets to your beneficiaries. It's one of the most important decisions in estate planning.
What Does an Executor Do?
- 1File the will with probate court
- 2Obtain death certificates (order 10-15 copies)
- 3Notify banks, insurers, creditors, and government agencies
- 4Inventory and appraise all assets
- 5Manage estate assets during probate
- 6Pay outstanding debts and final bills
- 7File the deceased's final income tax return
- 8File estate tax return if required
- 9Distribute assets to beneficiaries per the will
- 10File a final accounting with the court
- 11Close the estate
How to Choose the Right Executor
Your executor should be:
Executor Compensation
| State | Typical Fee |
|---|---|
| California | 4% of first $100k + 3% of next $100k + 2% of next $800k |
| New York | 5% of first $100k + 4% of next $200k + 3% of next $700k |
| Florida | 3% of first $1M + 2.5% of next $4M |
| Texas | 5% of estate (typical 'reasonable' amount) |
| Most other states | 2-5% of estate value ('reasonable compensation') |
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FAQ
Can an executor be a beneficiary?
Yes. A spouse or adult child often serves as both. No legal conflict.
Do executors get paid?
Most states allow 2-5% of estate value. Family members sometimes waive this.
Can I refuse to be an executor?
Yes. You can decline ('renounce') and the backup or court-appointed administrator takes over.
What if there's no executor named?
The court appoints an 'administrator' — usually the surviving spouse or adult child.
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