noun A person or institution appointed by a testator to carry out the terms of their will.
In finance, an executor is a person or institution appointed to handle the distribution of assets in accordance with a deceased person's will or estate plan.
An executor is a person appointed to carry out the terms of a will, including managing the deceased person's estate and distributing assets to beneficiaries.
An executor plays a crucial role in estate planning, ensuring that the deceased person's wishes are carried out and assets are distributed appropriately.
In the probate process, an executor is responsible for managing the deceased person's estate, paying debts, and distributing assets to beneficiaries.
In the context of trusts, an executor may be appointed to oversee the administration and distribution of trust assets according to the terms of the trust document.
An executor in legal terms refers to a person named in a will to carry out the final wishes of the deceased individual. In this context, a lawyer may assist in the legal process of executing the will and distributing the assets of the deceased according to their wishes.
An executor is often designated in estate planning documents to manage the distribution of assets after the individual's death. Estate planners work with clients to choose an appropriate executor and ensure their wishes are carried out effectively.
A financial advisor may work with individuals to designate an executor in their will and provide guidance on financial matters related to estate planning and asset distribution. They may also assist the executor in managing the financial aspects of the estate.