Duties of Executors and Trustees to Beneficiaries and Heirs of Illinois Estates

Article written by Illinois Attorney Kevin O’Flaherty

In this article, we explain the duties of executors and trustees to beneficiaries and heirs of estates in Illinois.

What is the Difference Between an Executor, an Estate Administrator, and a Trustee?

An executor is an individual appointed by a will to manage a deceased individual’s estate for the benefit of the beneficiaries of the will and heirs. An estate administrator fills this same role in the absence of a will or in the absence of a named executor in a will who is willing and able to act. A trustee is an individual or entity who is responsible for managing the assets owned by a trust for the benefit of the beneficiaries named in the trust, according to the terms of the trust. In this article, we will refer to these three roles collectively as an estate’s “personal representative.”

What is a Fiduciary Duty?

A fiduciary duty is a legal responsibility that the law places on people in positions of trust with respect to other individuals. Fiduciary duties can take many forms, which we will describe below. The personal representative of an estate has a fiduciary duty to the…