Executor

An executor is someone who is responsible for executing, or following through on, an assigned task or duty. The feminine form, executrix, may sometimes be used. The executor is named in a will. In general, the executor gathers up the estate assets, pays the deceased’s debts, and divides what remains of the deceased’s estate among the beneficiaries. The beneficiaries, in turn, are the people named in the will to inherit the testator’s estate.

Executors also known as estate trustees in Ontario and liquidators in Quebec. The executor is a fiduciary and has legal obligations to the estate.

If you are named a executor in someone's will, it does not mean that you have to do it: you can say no (e.g., you don't have the time, etc.). There might be an alternate executor named in the will. Or a corporate executor can be named.

Overview
Typically, the executor is the person responsible for offering the will for probate, although it is not required that he fulfill this. The executor's duties also include disbursing property to the beneficiaries as designated in the will, obtaining information of potential heirs, collecting and arranging for payment of debts of the estate and approving or disapproving creditors' claims.

An executor will make sure estate taxes are calculated, necessary forms are filed, and tax payments are made. They will also assist the attorney with the estate.

Additionally, the executor acts as a legal conveyor who designates where the donations will be sent using the information left in bequests, whether they be sent to charity or other organizations. In most circumstances, the executor is the representative of the estate for all purposes, and has the ability to sue or be sued on behalf of the estate. The executor holds legal title to the estate property, but may not use the title or property for his/her own benefit, unless permitted by the terms of the will.