What is the difference between an executor and a trustee?

An executor and a trustee are both important roles in estate planning law in Idaho. They both manage assets of a person or estate. The primary difference between an executor and a trustee is their role in the estate. An executor is appointed by a court of law to perform duties such as collecting the assets of the decedent, paying off any debts, and distributing assets in accordance with the will of the deceased. The executor is responsible for the handling of the estate from the decedent’s death to the end of the probate process. A trustee, on the other hand, is appointed by the will of the deceased to take care of and manage the assets listed in the will. Trustees are also responsible for administering and distributing the assets to the beneficiaries of the estate. They act as an intermediary between the deceased and the beneficiaries. Trustees can also be appointed for trusts such as those set-up for minors, disabled individuals, or families. In conclusion, an executor is responsible for managing the assets of the decedent during the probate process, while a trustee is responsible for serving in the best interest of the beneficiaries of the estate. Both are important roles in estate planning law in Idaho and must be appointed according to the will of the deceased.

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What is the difference between an executor and a trustee?

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