Dictionary of Banking Terms: executor
executor
person or institution, often a trust company, named in a will to distribute the assets of a decedent. The executor assumes control of the assets of an estate, pays estate taxes, debts, and expenses.
Dictionary of Insurance Terms: executor
executor
fiduciary named in a will to settle an estate of a deceased person. The executor must act as a reasonably prudent man in safeguarding that property in his care, custody, and control. Insurance coverages are available for executors.
Dictionary of Real Estate Terms: executor
executor
a person named in a will to carry out its provisions for the disposition of the estate.
Example: Abel specifies in his will that his attorney shall serve as its executor. The attorney, at the appropriate time, assures that Abel's property is distributed according to the will.
