Choosing the Right Executor: Duties and Selection Tips

Why choosing the right executor matters

Selecting an executor is one of the most impactful decisions in estate planning. The executor will translate your wishes into action during a time of emotional and administrative pressure. A capable executor saves time and expense, reduces family conflict, and ensures legal and tax obligations are met. In my practice I’ve seen well-chosen executors shorten probate and avoid expensive litigation; I’ve also seen poorly chosen ones create delays and distrust among heirs.

Sources and further reading: the Consumer Financial Protection Bureau provides a plain-language overview of estate planning and executor duties (see: https://www.consumerfinance.gov/consumer-tools/estate-planning/) and the IRS describes estate and trust tax responsibilities, including Form 1041 for estates (https://www.irs.gov/forms-pubs/about-form-1041).

Core duties an executor must perform

Executors handle a series of legal and financial tasks. The specific steps and timing vary by state, but the core duties generally include:

1. Locate the will and initiate probate. The executor must find the decedent’s original will and file it with the probate court (or file a petition to open probate) in the appropriate county.
2. Identify and notify heirs and beneficiaries. The executor is responsible for informing beneficiaries and sometimes publishing required legal notices to creditors.
3. Secure and inventory assets. This includes bank accounts, investment accounts, real estate, personal property, and digital assets. Create a written inventory and take steps to protect assets from loss.
4. Manage estate finances. Maintain estate accounts, pay ongoing bills, collect receivables, and keep clear records of all transactions.
5. Notify and pay creditors. The executor follows state rules to notify creditors, evaluate claims, and pay valid debts from estate assets.
6. File tax returns. Prepare and file the decedent’s final income tax return (individual Form 1040) and any required estate tax or fiduciary returns (e.g., Form 1041). The IRS website outlines taxes related to estates and trusts (https://www.irs.gov/businesses/small-businesses-self-employed/about-estates-and-trusts).
7. Distribute assets. After debts and taxes are paid, distribute remaining property according to the will and state law.
8. Close the estate. Provide accounting to the court and beneficiaries, and obtain discharge from the court to end administration.

Each duty requires careful recordkeeping. In many states the executor must provide a formal inventory and periodic accounting to the probate court.

Practical checklist to evaluate potential executors

Use this checklist when deciding who to name:

• Competence with money and paperwork: Do they pay bills on time and keep good records?
• Honesty and impartiality: Can they manage family conflicts fairly?
• Availability and proximity: Will they be able to meet with lawyers, manage local real estate, or access physical records?
• Emotional resilience: Can they make rational decisions in a stressful situation?
• Age and longevity: Consider naming a younger backup if your first choice is close in age to you.
• Willingness to serve: Always ask the person before naming them and discuss expectations.

In many cases appointing a professional (an attorney, trust company or bank) or co-executors can make sense. Professionals bring expertise; co-executors can provide checks and balances—but co-executorship can create delays if the parties disagree.

Choosing between family, friends, and professionals

• Family member: Pros—knows your wishes and family dynamics; often lower cost. Cons—may lack experience and can be drawn into disputes. Many families name a trusted adult child or sibling.
• Trusted friend: Pros—may share your values and be impartial about money. Cons—may lack time, experience, or legal knowledge.
• Professional executor: Pros—experience with probate, impartial administration, and continuity. Cons—professional fees and less personal touch.

If you expect complex tax issues, blended-family disputes, international assets, or business interests, lean toward a professional or experienced corporate fiduciary.

Selection tips based on common scenarios

• Small, simple estate with amicable family relationships: a trusted family member often suffices.
• High-net-worth estate, business ownership, or real estate across states: consider a professional executor and consult an estate attorney.
• Blended families: pick someone known for impartiality or use a professional to reduce perceived favoritism.
• Digital assets and passwords: name a “digital executor” or ensure your executor has access instructions. (See FinHelp’s guide on Digital Executor: Managing Online Accounts and Passwords in an Estate).

Common mistakes to avoid

• Naming someone without asking. They may decline or be unable to serve.
• Choosing only based on relationship, not ability. Financial competence and organizational skills matter.
• Not naming alternates. If your primary executor dies or declines, having backups avoids court appointment delays.
• Forgetting state rules and probate timelines. Probate procedures and notice requirements vary by state; an executor who ignores local rules can cause delays and legal exposure.

Compensation and liability

Executors are generally entitled to compensation, which can be set by the will, state statute, or approved by the court. Typical structures include a percentage of the estate or a reasonable hourly/flat fee. Because executors handle money and legal duties, they can be held personally liable for breaches of duty; most executors are protected if they act in good faith and follow the court’s instructions. Many courts require executors to post a bond (insurance against mismanagement) unless the will waives it.

Timeline: what to expect

There is no single timeline for probate. A straightforward estate might be administered in 6–12 months; complex estates or contested wills can take several years. Small-estate procedures, beneficiary-designated assets, or joint ownership can avoid probate entirely and significantly shorten timelines.

Fees and costs the executor may face

• Attorney and accountant fees
• Court filing and probate fees
• Appraisal costs for property and valuable personal items
• Bond premiums (if required)
• Mailing and publication costs for creditor notices

Cost control often starts with clear estate planning: joint ownership, beneficiary designations, and trusts can reduce probate exposure. See FinHelp’s resources on How to Avoid Common Probate Pitfalls for strategies to streamline administration.

Real-world example (anonymized)

A client named her eldest child as executor because they lived nearby and were close. After the client’s death, the child struggled with the required probate filings and tax issues. The family eventually hired an attorney, which increased costs and caused delays. In a later estate plan for another client, we recommended a co-executor arrangement—an adult child paired with an independent corporate executor. This preserved family involvement while providing professional oversight and sped up distributions.

Questions executors should ask early on

• Where is the original will and any codicils?
• Has the decedent left an inventory, password list, or safe-deposit access instructions?
• Are there outstanding debts, recurring bills, or ongoing business obligations?
• Which heirs and beneficiaries need immediate notice?
• Are there any tax filing deadlines (estate tax or state income tax) to meet?

Keeping a durable, dated inventory and written directions for a successor will simplify administration. If you have a complex household or business, discuss succession steps with an attorney while you’re alive.

When to consult professionals

Consult an estate attorney if you anticipate contested heirs, own property in more than one state, or have complicated business or tax matters. Use an accountant or tax attorney when estate tax returns, business valuations, or complex tax credits are involved. The IRS provides guidance on estate and trust tax matters (https://www.irs.gov/businesses/small-businesses-self-employed/about-estates-and-trusts).

For practical, non-legal guidance on estate planning basics, the Consumer Financial Protection Bureau offers helpful materials aimed at consumers (https://www.consumerfinance.gov/consumer-tools/estate-planning/).

FAQ (concise answers)

• Can the executor be paid? Yes—state law or the will usually governs executor compensation, and courts can approve fees.
• Can I change my executor? Yes. You can change your executor any time before death by updating your will.
• What if the named executor refuses or is unable to serve? The court will appoint an alternate executor or an administrator unless an alternate is named.

Closing advice

Choose someone you trust who also has the practical skills to manage records, follow legal requirements, and communicate with beneficiaries. Where risk or complexity exists, name a professional or co-executor to reduce friction. Discuss your choice openly, provide written instructions and access to important documents, and name alternates.

Internal resources

• FinHelp guide on digital assets: Digital Executor: Managing Online Accounts and Passwords in an Estate
• FinHelp guide on probate avoidance: How to Avoid Common Probate Pitfalls
• FinHelp overview: Estate Basics for Everyday People

Professional disclaimer

This article is for educational purposes and does not constitute legal or tax advice. Laws differ by state and change over time. Consult a qualified estate attorney or tax professional for advice specific to your situation.

Author note

From my 15+ years advising clients on estate matters, the single most effective step is open communication: tell your executor where documents live, discuss expectations, and provide a short, written guide. That small investment saves time, limits disagreements, and preserves your intentions.