FREQUENTLY ASKED QUESTIONS
QUESTION:
What is the relationship between Executors and Trustees ?
What is the relationship between Executors and Trustees ?
ANSWER:
The executor is the person who is responsible for probating the estate and distributing the assets to the beneficiaries.
A trustee is the person who administers a trust agreement. A trust agreement may or may not arise out of an estate.
An executor’s position is temporary until the estate is settled. But a trustee’s position may carry on for many years depending on the terms of the trust. One person can fill both positions.