What Does an Estate Executor Do?

Following a person’s death, all their assets and property become part of an estate. An estate executor is the person who administers the estate. The executor’s specific role will vary depending on the estate and on whether or not the person who died, called the decedent, left a will. 

Generally, the role includes the distribution of assets, payment of debts and taxes, and other important tasks related to settling an estate. There are certain requirements for who may be an executor, but most executors are usually family members. An attorney experienced in trusts and estates law can advise you on estate executors and what they do.

What is an Estate Executor’s Primary Role? 

You can think of the estate executor as the administrator of the estate. The executor’s primary role is to ensure that the estate is legally and ethically handled. Because of how different each estate can be, the responsibilities of an executor can vary widely, but they typically include the following:

• Identifying estate assets including bank accounts, salary, property, insurance policies, investments, and businesses
• Paying the debts of the estate as well as its taxes and any expenses associated with administering the estate
• Determining how the estate will be distributed
• Estimating the value of the estate
• Publishing an official notice to any creditors
• Interacting with potential heirs to the estate
• Making distributions to beneficiaries
• Working together with the estate or decedent’s attorney and accountant (before and during the administration of the estate)
• Maintaining detailed records

What Are the Requirements to Be an Executor in Illinois?

Illinois law provides certain legal requirements for who may be an executor of an estate. An estate executor must be:

• 18 years of age or older
• A legal U.S. resident
• Mentally competent
• Able to provide valid identification

Occasionally, an executor may be required to post a bond to protect the estate in case there are any financial discrepancies.

Does an Executor Have to Go to Probate Court? 

An executor may have to go to probate court and should be prepared to do so. Probate court is the court where a will is filed, and probate is the legal process of proving that a will is valid. 

Generally, if the deceased person died with a will, one of the first items of business for an executor will be to ensure that the will is properly filed with the correct court, usually where the decedent lived. The executor who has filed a will with the court will also be tasked with petitioning the court to probate the will, which is the legal process of proving that a will is valid.

Even if there is no will, if the family members appoint an executor the estate may still go to probate, so an executor should be prepared to do so if there is no will as well.

Probate can be a long and taxing process. Thankfully, with the right preparation, probate can be avoided using certain strategies, such as placing assets into a trust. This must be done before death, when formulating an estate plan, and underscores the importance of preparing for this eventuality. If you expect to be the executor of an estate, discuss with the estate holder what the options are for protecting the estate from the probate process.

Can the Executor Sell Real Estate?

Illinois law allows an executor to sell real estate without seeking approval from beneficiaries unless the will says otherwise. In fact, it may be the executor’s duty to sell the property if the will does not say otherwise.

Who is the Executor if There is No Will? 

When someone dies without a will in Illinois, the deceased person’s estate management will be passed to a court, which will appoint an administrator to the estate. The court will usually ask the family to choose an administrator from the deceased person’s family members, with preference given first to surviving spouses. If the family cannot agree on who should be the administrator, the court will appoint an administrator. The requirements for being an administrator of the estate are similar to those of the executor.

Can an Executor Also Be a Beneficiary?

An executor may also be a beneficiary of the estate, and, in fact, because most of the time executors are family members of the deceased, executors will be beneficiaries.

Is an Executor the Same as a Power of Attorney?

Although it may seem like an executor fulfills similar responsibilities as someone who has a power of attorney, these are two distinctly different roles. A power of attorney is given to someone to act on behalf of another person during that person’s lifetime. An executor administers the estate of someone who has already died.

What Happens if the Designated Executor Dies or Cannot Fulfill Their Duties?

In situations when an executor either dies or is unable or unwilling to act as executor, the courts in Illinois will appoint an executor selected from the decedent’s family members. For this reason, it is recommended to appoint alternate executors just in case the primary executor is not available. 

What if an Executor Steals From an Estate? 

An executor who steals from an estate may face serious legal consequences. Beneficiaries of the estate can take legal action in court to remove an executor from the role. An executor who steals from an estate may also face civil damages and may even face criminal proceedings.

However, an executor may not be removed if the estate lost money because of the executor’s error, for example. The executor must have stolen funds or engaged in misconduct such as hiding assets to be removed.

Contact a Naperville, IL Estate Planning Lawyer

Whether you are currently drafting your estate plan and wish to appoint an executor, facing the loss of a loved one without a will, or have been appointed as an executor of an estate, an estate planning attorney can advise you on the best legal practices in each of these circumstances. At Gierach Law Firm, we bring more than 30 years of experience to protect the interests of our clients. Attorney Denise Gierach has the experience and knowledge to guide you through this process. Contact a Naperville, IL complex estate planning lawyer at 630-228-9413 today to schedule a consultation to discuss your estate planning needs.