What is the role of an Executor in managing a deceased person's estate?

The role of an Executor is primarily to carry out the instructions set forth in the deceased person's will or as directed by the probate court. This includes managing and administering the estate in accordance with the deceased's wishes, ensuring that all debts, expenses, and taxes are paid, and ultimately distributing the remaining assets to the beneficiaries as specified in the will. The Executor serves as a fiduciary, meaning they have a legal duty to act in the best interest of the estate and its beneficiaries, following the letter of the will and applicable laws.

While it may be beneficial for the Executor to obtain a good price for the estate's assets or make prudent decisions regarding investments, these tasks are secondary to their primary responsibility of adhering to the directives of the will. Likewise, decisions about estate taxes are typically guided by legal requirements and the provisions of the will, rather than the Executor's personal discretion. Thus, the main function of the Executor is to ensure that the deceased’s wishes are faithfully executed and all estate matters are handled properly.