Which of these characters is responsible for the management of the deceased person's estate?

Prepare for the DEAD Legal and Regulatory Test. Use flashcards and multiple choice questions with detailed hints and explanations for each query, ensuring readiness for your exam!

The executor is the individual designated in a will to manage the deceased person's estate after their death. This role involves a range of responsibilities, including gathering the deceased's assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries as outlined in the will. The executor has a fiduciary duty to act in the best interests of the estate and the beneficiaries, ensuring that the wishes of the deceased are honored in accordance with the law.

A beneficiary is someone who receives assets or benefits from the estate but does not have any responsibilities regarding the management of the estate. An heir, typically a family member, is legally entitled to inherit the estate, again without the obligation to manage it. A guardian, on the other hand, is responsible for the care of minor children or dependents, rather than for managing an estate. Therefore, the executor plays a crucial role in the administration of the deceased's estate, making them the correct choice in this context.

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