When you die, your asset distribution goes through a court-supervised procedure referred to as probate. Depending on your probate case, there may be one or two individuals who will uphold the main responsibilities of your asset distribution process — your executor and a court-nominated administrator. Here are their role definitions and distinctions:
Executor vs. Administrator
The executor is the person who you appoint in your valid will to carry out your directives and fulfill your final wishes. However, if you pass away without a valid will, or if your executor becomes unable or unwilling to serve, the court appoints a family member or a professional to oversee the role as an administrator.
Upon the probate court’s validation of your will, your executor formally proceeds with the full management of your estate’s affairs. Their tasks will include:
- Managing the inventory of your assets and their estimated values
- Paying off any outstanding bills, debts and taxes from your estate funds
- Publishing an official notice to your creditors
- Distributing your assets to your named beneficiaries
- Arranging and fulfilling your funeral directives
- Closing off your estate by notifying the court
If your will has a clause about your executor’s fees, the probate court will uphold those terms and administer the payment. However, if there is no mention of this in your document or if you died without one, the probate court will determine the executor’s fees based on the state’s law.
How does an administrator’s role differ?
Although the administrator’s role is quite like an executor’s role, their probate process may follow a different path if you died without a will. In this situation, your administrator will distribute your assets according to the state’s intestate succession laws.
Under this law, your asset distribution will follow a hierarchy-based order of inheritance, where your family members will be the first in line to receive your probate assets over your distant relatives.
Dying with dignity and peace of mind
When you plan for your future death, you leave this place with the assurance that your assets will be given to your chosen heirs the exact way that you intend them to be. This step not only helps protect their inheritance but also eliminates any legal challenges that may arise upon your passing.