What is the difference between an executor and a trustee?

An executor and a trustee both play legal roles in probate law in California. In general, an executor is responsible for the task of ensuring the deceased person’s wishes as stated in their will are carried out, while a trustee is responsible for managing the money and assets of the deceased that have been left to beneficiaries. An executor’s to-do list includes things such as paying all taxes and debts owed by the deceased, taking stock of and managing all of the deceased’s assets and belongings, and filing any necessary court documents. An executor has the authority to sell the deceased’s belongings, provided they can demonstrate it is in the best interests of the estate and its beneficiaries. A trustee is appointed to manage money or assets that have been left to beneficiaries. This includes making sure the assets are being invested wisely and generating income for the beneficiaries, as well as making sure all funds are accounted for and the best interests of the beneficiaries are served. A trustee is ultimately accountable to the beneficiaries, as they are responsible for managing and safeguarding the assets in the trust. In probate law, an executor and a trustee are clearly distinct roles with very different responsibilities. As such, it is important to understand the difference between the two positions if you are handling the estate of someone who has passed away.

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What is the difference between an executor and a trustee?

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