What Does an Executor Do?

If you’ve ever read a will, you’ll see the term “executor.” An executor is the person you appoint to carry out your wishes as expressed in your will. The executor’s job lasts a relatively short period of time, typically two to three years, ending with the final distribution of the estate’s assets to the beneficiaries.

The first thing the executor does is submit the will to the court for probate. Once the court declares the will valid (i.e., admits the will to “probate”), the executor is appointed and receives what are called “letters testamentary” in New York, evidencing this appointment. At this point, the executor’s job really begins.

The executor’s first step is to identify and collect the decedent’s assets. This includes transferring, and perhaps consolidating, bank and brokerage accounts into the decedent’s estate and taking action to protect the decedent’s assets (e.g., changing locks on doors, monitoring the decedent’s investments based on market  conditions).

Once the decedent’s assets have been identified and collected, the executor must determine the decedent’s debts and creditors and pay them. The executor should estimate the expenses that will arise during the administration of the estate (e.g., appraisal fees, estate taxes, executor’s commissions, legal fees, and accounting fees). By doing this, the executor can determine the “cash requirements” of the estate and sell estate assets to satisfy the estate’s cash requirements.

The executor may have many duties, depending on the size of the estate and complexity of the assets in it. For example, if the decedent owned a business, the  executor is responsible for dealing with that business, such as continuing the business or selling it. Depending upon the size of the estate, the executor may have to file New York State and federal estate tax returns, which are due nine months from the date of death. Once the taxing authorities sign off on the estate tax return(s), the executor must inform the beneficiaries about the actions he or she took on behalf of the estate, get the beneficiaries’ approval of those actions, distribute the remaining assets to the beneficiaries and close the estate, including filing the estate’s final income tax returns.

There are many duties to fulfill as executor, depending on the estate. The executor may also receive a fee, called a commission, which is set by law, and which is often well-deserved. There is assistance for the executor from start to finish, as the estates’ lawyer will play a large role in helping the executor navigate his/her duties.

This article appeared in the August 2026 issue of Stroll Lloyd Harbor.