Being an executor involves managing a deceased person's estate, settling liabilities and distributing assets. Under law, the deceased's property vests in the executor, who acts as the legal representative of the estate. According to legal experts, you must locate the will and assets, pay funeral expenses, debts and taxes from the estate, and then transfer the assets to the legatees as the will directs. The process can last months and often years, requiring completion of formalities such as obtaining a PAN card for the estate, opening an estate bank account, and dealing with various authorities including land revenue authorities, housing societies and provident fund authorities.
Probate is no longer mandatory anywhere in India after December 2025, but you may still have to apply for it if family members are likely to dispute the will or if a regulator or financial institution requires it under its policies. As reported by legal experts, once probate is granted, you must file an inventory of the estate in court within six months and an account within a year. The entire process can last months and often years, requiring careful management of the deceased's property and fiduciary duties.
You are not entitled to a fee for acting as executor unless the will provides for remuneration. However, reasonable expenses, such as travel costs and legal and professional fees, can be paid or reimbursed from the estate. According to legal guidance, these expenses must be documented and justified to ensure proper accounting of estate funds.
To address the question about backing out, you can disclaim your role before or after your friend passes away. If you change your mind before his demise, you should inform him so that he can amend his will to appoint someone else in your place. If you choose to renounce the role after his passing, you should do so as soon as possible, before you have 'intermeddled' with the estate, that is, before dealing with its property and taking on fiduciary duties, and certainly before applying to a court for probate where it is required. You must record the renunciation in a written document signed by you, with no particular format prescribed.
Before accepting the role, legal experts recommend discussing good practices with the testator to make administering the estate easier. The testator should take legal advice to ensure the will is clear and unambiguous, and should name a co-executor or alternate executor, ideally someone younger or a family member, in case you are unable or unwilling to follow through. Additionally, the testator should inform his children that you have been appointed to avoid future surprises, maintain an updated list of assets, liabilities, nominations and relevant details, and guide you on where to find the will and related documents when he is no longer around. For comprehensive estate planning, consider creating a living inventory of all loyalty rewards programs, account numbers, approximate balances, and estimated redemption values, while securing access credentials in encrypted password managers and providing clear instructions to your executor.
