In estate planning, who is responsible for executing the instructions of a will?

The role of the executor is critical in estate planning, as this individual is legally appointed to ensure that the instructions outlined in a will are carried out. The executor manages the estate, which includes gathering and valuing assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries as designated by the deceased. This responsibility is detailed in the will, and the executor has a fiduciary duty to act in the best interest of the estate and its beneficiaries.

The other roles in estate planning are distinct from that of the executor. The trustee is responsible for managing assets placed in a trust but does not execute a will. The beneficiary is the individual or entity who receives assets from the estate according to the will, but they do not have the authority to carry out the will's provisions. The testator is the person who creates the will, establishing how their property will be distributed, but they are no longer involved once the will goes into effect after their passing. Thus, the executor is uniquely positioned to fulfill the duties associated with the execution of the will.