Legal Question in Wills and Trusts in New York
in an irrevocable trust is the trustee the same as the executor
2 Answers from Attorneys
A trustee is the person responsible for handling the affairs of a trust under the agreement creating the trust. A trust can be created one of two ways - during someone's lifetime or under their Will. Either way, the trust can be irrevocable. However, if created under one's Will, a possibly different person can be the Executor, who handles the affairs of the estate until the trust is ready to be implemented. If a different person is named as trustee under a trust created under a Will, the Executor hands off responsibility after the Executor completes all preliminary requirements. I hope this explains the differences.
No. The Executor is charged with the duty to carry out the dictates of a will, a trustee is charged with the duty to carry out the dictates of a trust agreement.