An older couple looks over a will with an attorney.

What does the executor of a will do?

Provided by
An older couple looks over a will with an attorney.

When named the executor of a will there are many responsibilities to fulfill.

What are the responsibilities of an executor?

The executor of an estate is named in one's will and has many duties and responsibilities. Some of the more important tasks include:

  • Find the latest will and read it.
  • File a petition with the court to probate the will.
  • Assemble all of the decedent's assets.
    • Take possession of safe deposit box contents.
    • Consult with banks and savings and loans in the area to find all accounts of the deceased. Also check for cash and other valuables hidden around the home.
    • Transfer all securities to his or her name (as executor) and continue to collect dividends and interest on behalf of the heirs of the deceased.
    • Find, inventory and protect household and personal effects and other personal property.
    • Collect all life insurance proceeds payable to the estate.
    • Find and inventory all real estate deeds, mortgages, leases and tax information. Provide immediate management for rental properties.
    • Arrange ancillary administration for out-of-state property.
    • Collect monies owed the deceased and check interests in estates of other deceased persons.
  • Find and safeguard business interests, valuables, personal property, important papers, the residence, etc.
  • Inventory all assets and arrange for appraisal of those for which it is appropriate.
  • Determine liquidity needs. Assemble bookkeeping records. Review investment portfolio. Sell appropriate assets.
  • Pay valid claims against the estate. Reject improper claims and defend the estate, if necessary.
  • Pay state and federal taxes due.
    • File income tax returns for the decedent and the estate.
    • Determine whether the estate qualifies for special use valuation under IRC Sec. 2032A or the deferral of estate taxes under IRC Secs. 6161 or 6166.
    • If the surviving spouse is not a U.S. citizen, consider a qualified domestic trust to defer the payment of federal estate taxes.
    • File federal estate tax return and state death and/or inheritance tax return.
  • Prepare statement of all receipts and disbursements. Pay attorney's fees and executor's commissions. Assist the attorney in defending the estate, if necessary.
  • Distribute specific bequests and the residue; obtain tax releases and receipts as directed by the court. Establish a testamentary trust (or pour over into a living trust), where appropriate.

These materials were reproduced with the permission of Advisys, Inc. No State Farm® entity prepared these materials nor does State Farm represent or warranty the opinions or statements expressed therein. These materials are being provided for information purposes only.

The information in this article was obtained from various sources not associated with State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates). While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. State Farm is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. State Farm makes no guarantees of results from use of this information.

Start a quote

Select a product to start a quote.

Find agents near
you or contact us

There’s one ready to offer personalized service to fit your specific needs.

Related articles

Preparing a living will & end-of-life care choices

It's not the most pleasant task, but making your preferences known in a living will has to be done.

What is the difference between a will and a trust?

Wills and trusts are an important part of estate planning. Wherever you are in the planning process, know your options.

Types of wills and trusts

What are the differences between a basic will, pour-over will, tax-saving will, living trust and more? Learn more about wills and trusts in this informative article.

What is a will and why do you need one?

A will is a legal document that establishes who will receive your assets from your estate and can appoint guardianship of minors.