BizTerm Definition
executor
Full Definition

The person named in a will to handle the property of someone who has died. The executor must collect and manage the property, pay debts and taxes, and then distributes what's left as specified in the will. In addition, the executor handles any probate court proceedings (with the help of a lawyer, if necessary) and takes care of day-to-day tasks--for example, terminating leases and credit cards, and notifying people and organizations of the death. Executors are also called personal representatives.


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