Executor's Duties

The Executor/Executrix is the person appointed by the Decedent in his or her Will to terminate the Decedent's affairs after he or she is gone. This responsibility usually lasts for at least a year after the death and is terminated by the Executor's distribution of the Decedent's property according to the terms of the Will.

The Executor makes sure that the proper documents are filed at the Probate Court for allowance of the Will. These documents generally include a Petition for Probate, a Bond, and a Medical Assistance Affidavit, among others. After the Will has been allowed, the Executor is given the authority to marshall all of the assets of the Estate and pay the just debts of the Estate. A separate bank account for the Estate is generally established, after obtaining a tax identification number for the Estate, and the Executor is expected to keep a careful account of all receipts and disbursements. In addition, the Executor prepares an Inventory of the Estate, with values based on appraisals of real estate and personal property, and files an Account of the amounts received by the Estate and the amounts paid out from the Estate, which is submitted to the Probate Court.

The Executor also makes sure that the deadlines are met for both income tax and estate tax filings. Federal and state estate tax returns must be prepared and filed nine months after the date of death. Regarding income tax, the Executor on behalf of the Decedent must file a final federal and state income tax return for that portion of the year during which the Decedent was alive, and Executor on behalf of the Estate must also file federal and state income tax returns from the date of death until the date of closing of the Estate.