When someone is appointed as the executer of an estate, they are responsible for making sure it is managed properly while the assets work through the process of administration. They will also have to make a listing of all the assets within an estate, get their value determined, collect income from any income-producing assets, pay expenses of the estate, distribute assets to the intended beneficiaries or fund the trusts and make sure everything is distributed according to the wishes of the deceased. This process can often take months, or even longer, to complete. During this time, the executor will need to do things like keep up with the maintenance of property, pay bills (including taxes) and much more. The expenses associated with this process will be paid from the estate itself.
Executor or trustee has to keep track of all the money they spend during this process so that they can show that they aren’t misusing the funds of the estate. Beneficiaries of the estate can request that you provide an accounting of your acts and proceedings as fiduciary (executor or trustee), and the courts can also demand to see one, so it is important to make sure you are keeping track of everything properly.