Family Office Definition: Executor
Executor definition: The executor is the overseer of the deceased affairs. It is their responsibility act as a fiduciary and to follow the deceased person’s will and distribution of assets. The executor must file a form with the IRS to initiate and terminate their fiduciary relationship of caring for the deceased person’s affairs. Other duties include obtaining court acceptance of the will, filing federal and state tax returns, valuing estate assets, settling any debts, defend contested wills, submit a written report to probate court detailing all estate assets, expenses and distributions.
Download our free Family Office Report to learn more about the family office industry.
Read more Family Office Definitions
Tags: What is executor?, executor definition, executor family office, executor term, define executor, executor wealth management, executor multi-family office, executor single family office
