Island Savings

What does "executor of a will" mean?

The executor of a will is the person, appointed by the deceased, who is responsible for carrying out the wishes of the deceased as outlined in their will, distributing and managing their assets, and settling the estate debts. When you are named executor of an estate, you may not fully understand the duties and responsibilities of administering an estate and could find them overwhelming. We can help.

I’ve been named executor of an estate. Now what?

One of the first things you should do as executor is set up an estate account. This account will hold the funds of the estate and will be used to pay for funeral expenses and outstanding bills.

Settling the estate of the deceased may take between 12 to 18 months and often requires professional assistance to complete. Occasionally, this process can be complicated by difficult family dynamics or legal circumstances.

Helpful links for being an executor


WE CAN HELP YOU AS AN ESTATE EXECUTOR

Thanks to our partnership with Concentra Trust, we can refer you to services that will help you fulfill your obligations as an executor in a timely and less stressful manner. Talk to a representative at a branch today.

 

More on estate administration

What to do after the loss of a loved one

What is will probate?

 

Talk to us

Whether you’re looking for more information, or you’d like our help in settling the estate, you’ll find our contact information here.

 

We encourage you to visit one of our branches for more information on how Island Savings can make things simple!


 

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