It feels like a compliment when someone names you executor of their will. And in a way, it is — they trusted you. But it’s also a job. A real one, with real consequences if you mess it up.
As executor, you’re the person legally responsible for wrapping up a dead person’s financial life. That includes some things people don’t expect. According to the IRS, the personal representative of an estate — that’s you, as executor — is responsible for filing the decedent’s final individual income tax return. You may also need to file Form 56 to formally notify the IRS that you’re acting in that role. So yes, you may be doing someone else’s taxes after they’re gone.
You also have to notify creditors about the death and handle paying off any debts the person left behind. And once the debts and taxes are settled, you distribute whatever’s left to the people named in the will — the heirs. The University of Miami School of Law outlines key responsibilities: starting the probate process, locating and appraising assets, paying debts and taxes, and distributing what remains.
Here’s where it gets serious. If you distribute assets before paying off debts, file taxes incorrectly, or skip required steps, you can potentially be held personally liable in many states. That means the mistake can come back on you financially, not just on the estate. The exact rules vary by state, so the stakes in your specific situation depend on where the deceased person lived.
Most people don’t think about any of this when they say yes to being someone’s executor, often years before the person dies. It’s worth knowing what you’re agreeing to.