Executor FAQs What is an executor? An executor is a person responsible for carrying out instructions in a will after the person who made it dies. Executors are responsible for managing the deceased person’s estate, including paying debts and distributing assets to beneficiaries according to the terms of the will. Is an executor the same as a trustee? Although an executor and trustee may have similar responsibilities, they differ in some ways. An executor is appointed in a will and is responsible for managing the deceased person’s estate. In contrast, a trustee is appointed by the person who establishes a trust and is responsible for managing the assets placed in the trust. Can an executor also be a beneficiary? Yes, it is possible for an executor also to be a beneficiary of a will. In this case, they will be responsible for carrying out their duties as executors while also receiving assets or benefits from the estate as a beneficiary. Do executors get paid? Yes, executors may be entitled to receive compensation for their work in administering an estate. The amount of payment an executor gets may be based on the size and complexity of the estate and the time and effort required to manage it. How do executors get appointed? The most common way to assign an executor is by the testator naming them in the will. Alternatively, if the will does not name an executor, or if the named executor is unable or unwilling to serve, the court can also appoint an executor, also known as an administrator. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.