Who is responsible for the administration and management of a deceased individual's estate?

The executor is the individual appointed to manage and administer a deceased person's estate. This role comes into play after the individual has passed away, and the executor's responsibilities typically include gathering the decedent's assets, paying any debts and taxes, and ultimately distributing the remaining assets according to the instructions laid out in the will or, in the absence of a will, according to state intestacy laws.

The executor is often chosen by the deceased in their will, and if not specified, may be appointed by the probate court. This can involve overseeing the entire probate process, which ensures that the estate is settled in a lawful manner and that the wishes of the deceased are respected. The executor must act in the best interest of the estate and its beneficiaries, which is a position of significant responsibility and trust.

Understanding the role of the executor is crucial in estate management, as they serve as the central figure in ensuring that the estate is handled properly and efficiently after someone's passing.