Executor vs Trustee
What is the difference between an executor and a trustee?
In South African estate planning, an executor and a trustee can both be mentioned in a will. They are not the same role. The executor deals with the deceased estate after death, while a trustee manages assets that are placed into a trust for beneficiaries.
Winds up the estate
An executor is appointed to administer and finalise the deceased estate. This includes reporting the estate, collecting assets, paying debts and distributing assets to heirs according to the will.
Manages trust assets
A trustee manages and protects assets placed in a trust, often for beneficiaries such as minor children. This role can continue for many years, depending on the trust instructions.
What does an executor do?
The executor’s main role is to administer and finalise the estate of the deceased. The executor acts after death and the role ends once the estate has been fully wound up.
What does a trustee do?
A trustee manages assets placed in a trust. This often happens when a testamentary trust is created in a will, for example where assets must be protected for beneficiaries until they reach a certain age.
Quick comparison
Executor vs Trustee
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