Executorship: meaning, definitions and examples
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executorship
[ ˌɛk.sɪˈkjuː.tər.ʃɪp ]
legal role
Executorship refers to the position or role of an executor, a person appointed to administer the estate of a deceased person. The executor is responsible for managing the deceased's assets, settling debts, and distributing remaining property according to the will or relevant laws. Being an executor can involve significant legal responsibilities and duties, making it essential for the appointed individual to act in good faith and in accordance with the law.
Synonyms
administratorship, executive role, fiduciary role
Examples of usage
- She was named as the executorship in her father's will.
- The executorship of the estate took several months to complete.
- They sought legal advice to understand their executorship duties.
- The executorship can be a complex legal process.
- He declined the executorship due to personal reasons.
Word origin
The term 'executorship' is derived from the word 'executor', which has its roots in the Latin term 'exsequi', meaning 'to follow out or perform' (composed of 'ex' meaning 'out of' and 'sequi' meaning 'to follow'). In medieval legal contexts, the executor was a person chosen to ensure that the last wishes of a deceased individual were fulfilled. The use of 'executorship' to describe the position and responsibilities associated with serving as an executor began to appear in English legal texts during the late Middle Ages. Over time, the concept evolved, becoming a crucial element in estate management, reflecting the need for legal oversight in the distribution of a deceased's assets. Executors not only have to manage the estate's financial matters but also ensure compliance with laws governing inheritance and taxation. The role carries a high degree of responsibility, which is why laws and duties surrounding executorship are well-defined in contemporary legal systems.