another term meaning executor of estate
Generally, an executor is a person who a will maker, or testator, names in a last will and testament to oversee the settlement of the estate. Executors have certain responsibilities, including paying the deceased person's creditors. 1 Use estate funds to pay continuing expenses. 2  The executor may need to pay, for example, utility bills, mortgage payments, and homeowner's insurance premiums. 3  Pay debts. 4  If there is a probate proceeding, the executor must officially notify creditors of it, following the procedure set out by state law. 1 Pay debts. 2  If there is a probate proceeding, the executor must officially notify creditors of it, following the procedure set out by state law. 3  For help with this process, see Nolo's eForm Notice to Creditor of Death. When an individual is both sole heir and executor, he inherits the entire estate only after all the deceased person's debts are paid. If a deceased person had more debt than assets at the time of death, the estate is considered insolvent and the sole heir is unlikely to inherit anything. The duty of settling and distributing the estate of a decedent (one who has died) is assigned to personal representatives of the decedent. A Personal Representative may be an executor (male or female) or executrix (female), or administrator (male or female) or administratrix (female). An executor or executrix is the person named in a will to administer the estate. An administrator or administratrix is a person appointed by the court to administer the estate of someone who died without a will. Executors and administrators act as officers of the court because they derive their authority from court appointments. They are also considered the fiduciaries, or trusted representatives, of the deceased. As such, they have an absolute duty to properly administer the estate solely for its beneficiaries. An executor is a person who manages the estate of the deceased, known as the decedent. Also called a personal representative, the executor is typically named in a will. A judge chooses and appoints an estate administrator if a decedent dies intestate, or without a will, or does not name an executor in his will. An estate administrator basically has duties and powers equivalent to an executor. 1 The executor may need to pay, for example, utility bills, mortgage payments, and homeowner's insurance premiums. 2  Pay debts. 3  If there is a probate proceeding, the executor must officially notify creditors of it, following the procedure set out by state law. Executors have a number of duties, depending on the complexity of the deceased person's financial and family circumstances. Typically, an executor must: 1  Find the deceased person's assets and manage them until they are distributed to inheritors. 2  This may involve deciding whether to sell real estate or securities owned by the deceased person. Heirs typically inherit a deceased person's property through a probate court because the term heir refers to a person who is entitled to inherit property according to a state's intestacy law. Probate courts oversee the distribution of property as dictated by state law. The sole heir of a deceased person's estate stands to inherit the whole of the estate; the executor is a person designated in a last will and testament to settle a deceased person's estate. Executors either settle a deceased person's estate outside of probate court or through the probate process.
Decedent and personal representative