Executor
About Executor:
Executor (executrix) is a person designated to cany out the wishes expressed in a will as to the administration of a decedent's estate and the distribution of the assets in it. An executor may be a bank trust officer, a family member, or a trusted friend. Executrix is the term for a woman who fills this role. Former IRC (check if this IRC provision is current here) §2203.
Description and Definition of Executor
A legal entity, frequently an individual, who is named in the decedents will to carry out the desires of the deceased after his death as designated in the will. Executors must be approved by the court probating the will. An executor pays all indebtedness as claimed by creditors of the estate, with the approval of the court, and then carries out or executes the will according to the terms set forth by the deceased.
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