An executorial trustee is someone who is appointed to be an

executor An executor is someone who is responsible for executing, or following through on, an assigned task or duty. The feminine form, executrix, may sometimes be used. Overview An executor is a legal term referring to a person named by the maker of a ...

(the person who carries out the directions set forth in a

will Will may refer to: Common meanings * Will and testament, instructions for the disposition of one's property after death * Will (philosophy), or willpower * Will (sociology) * Will, volition (psychology) * Will, a modal verb - see Shall and will ...

) and also be a

trustee Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to ...

of an estate after the executors duties have been completed. The role of trustee must be taken at a different time than that of executor, as the position of trustee precludes administration in trust law. Especially when dealing with large and lucrative estates this position generally does not exist in many cases so as not to create a

conflict of interest A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations i ...

. The remedy is usually to have an executor act in an

arbitrary Arbitrariness is the quality of being "determined by chance, whim, or impulse, and not by necessity, reason, or principle". It is also used to refer to a choice made without any specific criterion or restraint. Arbitrary decisions are not necess ...

fashion and have no

financial Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of f ...

interest in how the estate will be divided up. This can be problematic, given that in some countries, such as the United States, an executor is automatically entitled to compensation for his or her services.Executor Compensation, Reimbursement, and Fees
/ref> See also:

trust law A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the " sett ...

inheritance Inheritance is the practice of receiving private property, titles, debts, entitlements, privileges, rights, and obligations upon the death of an individual. The rules of inheritance differ among societies and have changed over time. Officiall ...

, wiktionary definition

References

Legal professions {{Law-term-stub