When a person creates a will, he or she names a person to take care of all business affairs of the estate when he or she dies. This person is called the executor of the estate.

Many of the responsibilities of the executor are determined by the courts, the state in which the deceased lived, and the Internal Revenue Service. Specific responsibilities often include the following:

·         Registering the deceased’s death with the county medical examiner or city health department and assisting with the funeral arrangements.

·         Securing and maintaining the deceased’s property, such as a home or business, to ensure that it does not decrease in value or become a liability.

·         Opening an estate bank account and paying bills, such as mortgage, property taxes, utilities, and repairs out of this account.

·         Contacting everyone with whom the deceased did any kind of business, notifying them of the death in writing and enclosing a copy of the death certificate in order to close all accounts and other affairs.

·         Distributing the balance of the estate’s funds and possessions as directed by the deceased in the will.

The executor becomes the owner and protector of the deceased’s property until all outstanding bills and taxes owed by or claims against the estate have been settled and the remaining assets have been disposed of according to the terms of the will.

While some executors refuse compensation for acting in this capacity, it is customary for the estate to pay the executor for his or her work on the estate’s behalf and to reimburse the executor for reasonable out-of-pocket expenses. Compensation is typically a certain percentage of the value of the estate.