Which role is responsible for managing the financial aspects of an estate upon a person's death?

The executor is the individual appointed to manage the financial aspects of an estate after someone has passed away. Their primary responsibilities include settling debts, ensuring that the deceased’s wishes as detailed in their will are carried out, and distributing the remaining assets to the beneficiaries. The executor has a fiduciary duty to act in the best interest of the estate and its beneficiaries, which involves overseeing financial transactions, filing necessary tax returns, and ensuring that all legal obligations are fulfilled.

This role is crucial in the probate process, where the will is validated, and the estate's assets are handled according to the deceased's instructions. An executor must be organized and have an understanding of financial and legal matters to effectively manage the estate.

In contrast, a guardian is responsible for the care of minor children or dependents rather than financial matters. A beneficiary is an individual who receives assets according to the terms of the will but does not manage the estate. A trustee is involved in managing assets held in a trust, which is a different legal arrangement from executing a will, as it pertains to property held for the benefit of another person according to the trust's terms.