What is an Executor?

An executor, sometimes called a personal representative, is an individual appointed in a will by a deceased person (testator) to manage their estate. The executor's primary duty is to carry out the instructions and wishes of the deceased as expressed in their will. This includes distributing assets, paying taxes, settling debts, and handling the day-to-day administration until the estate is formally closed.

Role in Long-Term Care

While an executor’s responsibilities traditionally begin after a person’s death, the planning aspects can significantly influence long-term care considerations:

Financial Management and Planning

• Executors often work closely with financial planners or attorneys to ensure that the assets of the estate can cover long-term care costs if the decedent was receiving care before their death.
• This might involve liquidating assets or arranging for the continuation of payments for long-term care facilities.

Legal and Health Care Decisions

• In cases where no enduring power of attorney is established, an executor might be involved in making decisions about the healthcare and personal care of a testator who is incapacitated.
• This scenario generally requires the executor to work within the bounds set by a living will or advance directives provided by the testator.

Asset Distribution

• Executors need to consider the impact of long-term care costs on the estate's asset distribution.
• If significant assets were used to cover these costs, the executor must manage the remaining estate accordingly, which might affect the deceased's intended distributions.

Estate and Medicaid Planning

• Since long-term care can be expensive, part of an executor’s role might also involve understanding how Medicaid planning affects the estate.
• They may need to navigate recovery claims from Medicaid, which seeks reimbursement for long-term care costs covered by the program after the individual's death.