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Frederick W. Hughes (better known as Fred Hughes) ( July 29, 1943 – January 14, 2001) was an American businessman.He was artist Andy Warhol's business manager for 20 years and the executor of his estate following his death in 1987.
An executor is a person appointed by a will to act on behalf of the estate of the will-maker (the "testator") upon his or her death. An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator.
The executor of a will has a fiduciary duty to act in the best interest of the estate. This means that the law prevents you from acting in your own interest to the detriment of the estate.
In estate planning, an executor is someone who is charged with settling the estate of a deceased person. When someone writes a will , they can name a person of their choosing to act as executor.
In common law jurisdictions, a personal representative or legal personal representative is a person appointed by a court to administer the estate of another person. If the estate being administered is that of a deceased person, the personal representative is either an executor if the deceased person left a will or an administrator of an intestate estate. [1]
When someone dies, others may be called on to manage their estate. An executor is charged with overseeing the distribution of someone's assets according to the will or state inheritance laws if ...
Additionally, the executor must secure and manage all estate assets of the decedent during the period it takes to probate a will, which could be as little as a few months or as long as a year. 3 ...
The executor holds legal title to the estate property, but may not use the title or property for their own benefit, unless permitted by the terms of the will. A person who deals with a deceased person's property without proper authority is known as an executor de son tort .
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