Executor

:This article is about the legal term. For the fictional starship, see Executor (Star Wars).

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An executor (not to be confused with executioner), in the broadest sense, is one who carries something out (in other words, one who is responsible for executing a task).

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Executor is also a legal term referring to a person named by a maker of a will to carry out the directions of the will. Typically the executor is the person responsible for offering the will for probate, although it is not absolutely required that he or she do so. The executor's duties also include the payment of outstanding debts and the disbursement of property to the beneficiaries as designated in the will. Also the executor makes all donations as left in bequests to charitable and other organizations as directed in the will. 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 also holds legal title to the estate property, although he (or she) may not use that property for the executor's own benefit unless expressly permitted by the terms of the will.

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See also: executorial trustee, estate, inheritance

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Will: WILL is a television station in Urbana, Illinois, licensed to the University of Illinois at Urbana-Champaign that is a member of PBS (WILL-TV), and also an AM (WILL-AM) and FM (WILL-FM) station that is a member of NPR and PRI....

Probate: Probate is the legal process of settling the estate of a deceased person; specifically, distributing the decedent's property....

Debt: Debt is that which is owed. A person or company owing debt is called a debtor. An entity to whom debt is owed is called a creditor. Debt is used to borrow purchasing power from the future. Companies use debt as a part of their overall corporate finance strategy....