What Does an Executor Do in the Estate Planning Process?

An executor is the person responsible for carrying out the instructions in a will. This role involves handling legal paperwork, paying debts, and distributing assets. Key points to know include:

• Executors act in the best interests of the estate and beneficiaries
• The Surrogate’s Court officially appoints the executor during probate
• Certain people cannot legally serve as executors in New York
• Executors may receive compensation for their work

What Is an Executor of a Will or Estate?

An executor manages a deceased person’s estate from start to finish. They file the will in court, settle debts and taxes, and distribute assets to beneficiaries. Because they serve as fiduciaries, executors must act with honesty and fairness under the law.

Who Is Legally Prohibited From Serving as an Executor?

In New York, minors and individuals convicted of a felony cannot serve as executors. In addition, the court may reject a person if it finds they lack the ability to handle estate matters responsibly.

Why Is Having an Executor Important?

Without a responsible executor, the probate process can stall. As a result, assets may remain unsettled and families can face unnecessary stress. With an executor in place, the process moves forward efficiently and beneficiaries receive what the will provides.

Can a Beneficiary Also Be the Executor of a Will?

Yes. Beneficiaries are allowed to serve as executors, and it is common for a spouse or adult child to be appointed. However, conflicts of interest may arise if the executor is also inheriting a large portion of the estate. In such cases, professional guidance can help avoid disputes.

Is the Executor Entitled to Compensation?

Executors in New York are entitled to statutory commissions, which are based on the size of the estate. For example, larger estates generate higher commissions. Some family members waive this payment, but the law ensures compensation is available for the time and effort required.

What Are the Duties of an Executor in New York?

The executor’s duties cover legal, financial, and administrative responsibilities. Common tasks include:

• Filing the will with the Surrogate’s Court
• Collecting and safeguarding assets
• Paying funeral costs, debts, and taxes
• Distributing property to beneficiaries as directed
• Maintaining clear records of all transactions

Because these responsibilities are significant, many executors choose to work with an attorney to avoid mistakes.

What If the Executor Doesn’t Follow the Will’s Instructions?

Beneficiaries can ask the court to intervene if an executor fails to carry out their duties. In that situation, the court has authority to remove the executor and appoint someone else. This ensures the estate is managed correctly.

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Understanding the role of an executor is only one piece of creating a strong estate plan. Executors carry important duties, but the best way to ensure your wishes are honored is through careful planning guided by an experienced attorney. To learn more about estate planning, click here.

Contact us today to arrange a strategy session and begin building a plan that protects your loved ones and secures your legacy.