Glossary

Executor

The person named in a will, or appointed by a court, to settle a deceased person's estate: gather assets, pay debts and taxes, and distribute what remains.

Also called: personal representative, estate administrator

An executor is the person responsible for settling a deceased person's estate. The will names the executor, and a probate court formally appoints them, usually issuing letters testamentary as proof of authority. If there is no will, the court appoints an administrator; many states use "personal representative" for both roles.

The executor locates the will and assets, notifies creditors, pays valid debts, files final income tax returns and any estate tax return, and distributes what remains under the will or state law. For life insurance, the executor's role depends on the beneficiary. A policy payable to a named person goes straight to that person, outside the executor's control. A policy payable to the estate, or one where no beneficiary survives, becomes an estate asset, and the executor files the claim. Hypothetical example: a father's $200,000 policy names his estate; his daughter, as executor, files the claim with letters testamentary and a death certificate, then uses the money to pay his debts before distributing the rest to the heirs.

Executors are fiduciaries and can be personally liable for mistakes such as paying heirs before creditors or taxes. Even when insurance is not an estate asset, executors often help families find policies. See does life insurance go through probate? and how to find a lost life insurance policy.

Last reviewed October 4, 2026

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Related terms

Estate Everything a person owns at death, from property and accounts to some life insurance, which is settled and distributed to heirs and creditors. Probate The court-supervised process of validating a will, paying a deceased person's debts and distributing what's left, which life insurance usually avoids. Claimant The person or entity that files for a policy's benefits, usually a named beneficiary, executor or assignee after the insured's death. Estate tax A federal tax on the transfer of a deceased person's assets above an exemption amount, with a top rate of 40%; some states levy their own. Death certificate The official government record of a person's death, listing the date, place and cause; insurers need a certified copy to process a claim. Trustee The person or institution that holds legal title to trust assets and manages them for the beneficiaries under the trust's terms and fiduciary duties.

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