Executor

{
  "id": "MLC-T-INS-001386",
  "term": "Executor",
  "field": "Insurance and risk management",
  "definition": "A person or institution appointed in a will to carry out the deceased's final wishes and manage the administration of their estate. The executor's duties include gathering assets, paying outstanding debts and taxes, and distributing the remaining property to the beneficiaries as specified in the will. In the context of life insurance, the executor may be responsible for claiming policy proceeds on behalf of the estate if no beneficiary is named.",
  "url": "https://mlchart.com/terminology/insurance/executor/"
}