Executor Duties & Personal Liability

Serving as an executor is a significant legal responsibility. Under Pennsylvania law, an executor has a fiduciary duty to act in the best interests of the estate and its beneficiaries.

Core Duties

• Marshal all estate assets and protect them from loss
• File the will with the Register of Wills promptly
• Notify beneficiaries and known creditors
• Manage estate finances under the "prudent investor" standard (20 Pa.C.S. Chapter 72)
• File all required tax returns (final income tax, PA inheritance tax, and potentially federal estate tax)
• Keep accurate records of every transaction
• Distribute assets only after all debts and taxes are satisfied
• Check whether the decedent married after the will was executed — if so, the surviving spouse may be a pretermitted spouse entitled to the intestate share under 20 Pa.C.S. § 2507(3), regardless of what the will says

Executor Compensation

Pennsylvania allows "reasonable compensation" for executors. There is no fixed statutory percentage, but Bucks County courts typically approve compensation in the range of 3–5% of the estate's value, depending on complexity and the work performed. The compensation is income to the executor and subject to income tax — but it is deductible by the estate.