by Richard C. Wilson & Family Offices Group Association Team

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.

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