The differences between an Executor and a Trustee

Many of my clients can not differentiate the difference between an Executor and a Trustee. Below are the comparison of their role.

An Executor:-
His role is to administer the estate of the testator when he passes on. Firstly he needs to apply a document known as Grant of Probate at the Court. Upon extraction of the Grant of Probate, he will locate all the assets and after payment of all debts including the funeral expenses etc, he will transfer the remaining assets of the testator according to the Will to the respective beneficiaries named therein in the Will.

His role as an Executor ends when he has finished administer the estate.

In the case where there is minor or trust invloved, he will trasnfer the assets to the Trustee named in the Will.


A Trustee:-
He will takes over any asset that need to be hold on trust from the Executor. The trust could be a statutary trust or a testamentary trust in a Will. A Trustee is just a 'guardian' of assets, he will transfer the trust asset to the respective beneficiaries when the trust ends. The assets that is held on trust by the Trustee belong to the beneficiaries not the Trustee.

For more inforamtion on Will-Writing, please visit us at http://www.rockwillsonline.com.my/ or call +603-77821993.