Executor Checklist: The Complete Guide to Your Duties

By Susan Jackson · Published 2025-01-25 · 12 min read

Everything an executor needs to know: duties, timeline, compensation, and liability. This comprehensive checklist covers the entire estate settlement process from start to finish.

Your Role as Executor

Being named executor is both an honor and a significant responsibility. You're entrusted with carrying out your loved one's final wishes and protecting their legacy. This guide covers everything you need to know.

What is an Executor?

An executor (called "personal representative" in some states) is the person legally responsible for:

• Managing the deceased's assets
• Paying debts and taxes
• Distributing assets according to the will
• Representing the estate in legal matters

Executor Checklist: Phase by Phase

Immediate Tasks (Week 1)

• Locate the original will
• Obtain multiple death certificates (10-15 copies)
• Secure the deceased's property
• Notify immediate family
• Contact funeral home
• Review will for funeral instructions

Opening the Estate (Weeks 2-4)

• File will with probate court
• Petition for appointment as executor
• Obtain Letters Testamentary
• Open estate bank account
• Publish notice to creditors
• Notify Social Security and pension providers

Inventory and Valuation (Months 1-3)

• Inventory all assets
• Obtain appraisals for real estate and valuables
• Document all bank and investment accounts
• File inventory with court (if required)
• Identify all debts and liabilities

Estate Administration (Months 3-12)

• Pay ongoing bills from estate account
• Review and pay valid creditor claims
• File deceased's final income tax return
• File estate income tax returns (Form 1041)
• File estate tax return if required (Form 706)
• Manage or sell real estate
• Handle business interests

Closing the Estate (Final Months)

• Prepare final accounting
• Get beneficiary approval or court approval
• Distribute assets according to will
• File closing documents with court
• Retain records for 7+ years

Executor Compensation

You're entitled to compensation for your work:

• Statutory states: Set percentage (typically 2-5%)
• Reasonable compensation states: Based on time and complexity
• You can waive fees: Often done by family member executors

Protecting Yourself from Liability

Executors have fiduciary duties and can be held personally liable for:

• Mismanaging assets
• Self-dealing or conflicts of interest
• Not paying debts properly
• Distributing assets too early
• Missing tax deadlines

Protection strategies:

• Keep detailed records of all decisions
• Get court approval for major decisions
• Don't distribute assets until debts are settled
• Consider professional advice for complex matters
• Use estate funds for legitimate expenses only

Get Organized with Afterly Plan

Our interactive checklist provides a personalized task list based on your situation. The Executor Guidance page offers detailed explanations of each duty.

Published by Afterly Plan. This article is for general informational purposes and is not legal, tax, or financial advice. Consult a licensed professional for guidance specific to your situation.