NISM Certifications · NISM-Series-X-B: Investment Adviser (Level 2) · Tools for Estate Planning
Which person is appointed under a Will to carry out the testator's instructions and administer the estate after death?
The executor is the person named in a Will to carry out the testator's wishes, settle debts and distribute the estate to beneficiaries. A settlor creates a trust and a beneficiary merely receives assets, so neither administers the Will.
- ASettlor
- BExecutorCorrect
- CBeneficiary
- DGuardian ad litem
Explanation
The executor is named in the Will to implement its terms, settle liabilities and distribute assets. A settlor creates a trust, and a beneficiary only receives benefits. A guardian ad litem represents someone in court proceedings and is not the Will administrator.
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