What is an executor?

A straightforward estate takes six to twelve months. Contested wills, property sales, business interests or estate tax filings routinely push it beyond two years.

• Files the will with the probate court and obtains letters testamentary

• Secures property, redirects mail and stops recurring payments

• Inventories and values every asset as at the date of death

• Notifies creditors, reviews claims and pays valid debts in the legally required order

• Files the deceased's final income tax return, and an estate return where required

• Distributes the remaining assets and files a final accounting with the court

Executors are entitled to reasonable compensation, set by state law — often a percentage of the estate on a sliding scale, or an hourly rate the court approves. Family executors frequently waive it, particularly when they are also a beneficiary, because a fee is taxable income while an inheritance usually is not.

• Organised and financially literate matters more than being the eldest child

• Someone likely to outlive you, and ideally in the same state as your property

• Impartial enough to handle beneficiaries who disagree

• Always name at least one successor executor in the will

• Consider a professional executor — a bank or attorney — where the family is fractious or the estate is complex

Can an executor also be a beneficiary?

Yes, and it is very common — a surviving spouse or adult child is often both. The executor still owes a duty of impartiality to every other beneficiary.

How much does an executor get paid?

State law sets reasonable compensation, commonly a sliding percentage of the estate value or a court-approved hourly rate. Family executors often waive the fee because it is taxable income.

Can an executor refuse the role?

How long does an executor have to settle an estate?

A simple estate usually takes six to twelve months. Complex estates, property sales or disputes commonly run two years or more, subject to any deadlines the state sets for specific steps.