What is an executor, administrator, and a successor trustee?

All three of these roles are about making sure that the wishes of someone who died are fulfilled.

Executor

An Executor is the person who makes sure that someone’s will is administered. An executor specifically refers to a will. The Executor named in a will, but the Executor needs paperwork from Probate Court to proceed.

Administrator

An Administrator ensure that someone’s assets get to their heirs when there is no will. As with the Executor, the Administrator also needs paperwork from Probate Court to proceed.

Successor Trustee

In the case when someone has a trust, the person who makes sure that someone’s trust is administered is called the Successor Trustee.

Similarities of the Roles

In all three roles, the person is figuring what assets there are, what debts their are, who the beneficiaries are (in a will or trust) or heirs are (without a will). The person gathers the assets, pays the debts, and then distributes to the beneficiaries or heirs. The Executor, Administrator, and Successor Trustee must keep diligent notes, track phone calls, etc. They are not liable for any expenses on behalf of the decedent’s estate.

Differences of the Roles

Executors and Administrators (aka when there’s no trust involved) must go through Probate Court. This means there may be required court oversight or it may mean the judge requires a bond. In any event, the whole process goes through the court system.

A Successor Trustee is administering a private trust. There’s no court oversight — unless there’s a dispute.

If you are in any one of these roles, it is prudent to consult with an attorney to determine what is required, when it is required, and to ensure that all processes are followed so as to avoid delay and litigation. Contact me for a consultation.