What Does an Executor Actually Do? A Step-by-Step Guide

Being named an executor is an honor. It's also, in the months after someone dies, a second job — one that arrives at exactly the moment you're least prepared to take it on.

Most people who are named executors have little idea what the role actually involves until they're in the middle of it. This guide covers the full picture: what you're required to do, how long it takes, what's harder than it sounds, and how to set up whoever you name so they're not starting from scratch.

The Timeline: What Happens When

Executor duties stretch across a period that typically runs 6 to 18 months for a straightforward estate. Larger or more complicated estates can take two to three years. Here's how it usually breaks down.

In the first two weeks:

• Locate the will and determine whether it needs to be probated
• Notify immediate family and close contacts
• Obtain certified copies of the death certificate (you'll need more than you think — often 10 or more)
• Secure property (lock up the house, notify homeowner's insurance)
• Cancel or forward mail
• Notify the Social Security Administration; if a payment was deposited after death, it must be returned

In the first month:

• File the will with the probate court and open a probate case (if required)
• Apply for Letters Testamentary — the court document that authorizes you to act on behalf of the estate
• Open an estate bank account for incoming funds and outgoing payments
• Begin notifying financial institutions: banks, investment accounts, retirement accounts, life insurance companies
• Notify creditors (in many states, you're required to publish a legal notice in a newspaper)
• Contact the deceased's employer, if applicable, about final pay or pension benefits

Over the following months:

• Inventory all assets: bank accounts, investments, real estate, vehicles, personal property, business interests
• Get appraisals for real estate, business interests, or significant personal property
• Continue paying ongoing bills and obligations of the estate (mortgage, utilities, property taxes)
• Manage or sell real estate if needed
• Collect any money owed to the deceased (outstanding loans, security deposits, tax refunds)
• File the deceased's final federal and state income tax returns
• File an estate tax return if the estate is large enough to require one
• Pay valid debts and reject invalid claims from creditors

Near the end:

• File a final accounting with the probate court (a summary of everything that came in and went out)
• Get court approval to distribute remaining assets
• Transfer property to beneficiaries
• Close the estate bank account
• File final court documents to formally close the estate

The Parts Nobody Tells You About

The list above makes the process sound orderly. In practice, several parts are significantly harder than the paperwork implies.

Tracking down accounts. The deceased may have had accounts nobody knew about. Credit cards, old savings accounts, brokerage accounts opened decades ago. You'll find some of them while going through mail. Others you'll discover only when creditors come looking. Checking statements, tax returns, and old financial files is tedious but essential — unclaimed property ends up sitting with state governments for years.

Dealing with the family dynamic. As executor, you're in the middle. Beneficiaries want to know when they're getting their share, and the answer is often "not yet, and I don't know exactly when." Siblings may disagree about the value of assets or how they should be handled. Family tension that was simmering before a death often surfaces after one. Being the executor means managing logistics and managing relationships simultaneously.

Real estate. If the estate includes a house that needs to be sold, that process alone can take months — especially if the market is slow, the house needs work, or beneficiaries disagree about the price. You're managing the property (and paying carrying costs) the entire time.

The final tax return. You need to file a final income tax return for the person who died, covering the period from January 1 through the date of death. If there's estate income earned after death (interest, dividends, rental income), you may also need to file an estate income tax return. These are not the same as the estate tax return. Depending on complexity, you'll likely need an accountant.

Time. People underestimate this. A routine estate can take 30–100 hours of work. A complex one can take significantly more. This is unpaid work you're doing while also grieving, often while managing your own job and family.

What an Executor Can (and Can't) Be Paid

Executors are entitled to reasonable compensation from the estate. Most states either specify a percentage of the estate value (often 2–4%) or leave it to the probate court to determine what's reasonable.

In practice, many executors — especially family members — decline the fee. The compensation is taxable as ordinary income, and in smaller estates, the time involved often doesn't warrant a formal payment. But if the estate is large or complex, accepting compensation is completely appropriate and legally standard.

What you can't do: benefit from the estate in ways that aren't authorized by the will or the court. You can't sell estate assets to yourself below market value, pay yourself more than a court would consider reasonable, or favor yourself over other beneficiaries. Executors have a fiduciary duty — you're acting in the interest of all beneficiaries, not just yourself.

If you're ever uncertain whether a specific action is permitted, consult an estate attorney. Most probate attorneys offer hourly consultations and can help you navigate specific decisions.

How to Make It Easier for Whoever You Name

If you're reading this because you're thinking about who to name as executor in your own will, here's the most useful thing you can do: make sure they don't have to start from scratch.

The biggest time-sink in estate administration isn't the legal process — it's the information-gathering phase. Where are the accounts? Who is the accountant? Is there a mortgage? What did they want done with the house?

Leave a clear record. At a minimum, document:

• Where your will is located
• Where other key documents are (trust, healthcare directive, power of attorney)
• All financial accounts: bank, investment, retirement — the institution name and approximate balance
• Life insurance policies: insurer, policy number, beneficiary
• Real estate: address, how it's titled, any mortgage information
• Outstanding debts
• Names and contact information for your attorney, accountant, and financial advisor
• Your wishes for personal property and any specific bequests

Golden Wealth's document vault is designed for this: a central place to store this information and give your executor (and your family) access when they need it. Having that document can cut weeks off the early phase of estate administration.

Also tell the person you're naming. Don't just name them in your will — have the conversation. Make sure they're willing to serve, that they know where your will is, and that they have a general sense of what to expect. Being named executor without warning is a real thing that happens, and it makes an already difficult job harder.

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