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Hi can u please tell me who is the executor who pays inheritance tax on death eastate and who is the trustee who pays the tax in CLT?/ what is the difference betweence these people and donee?
Executor is the person who probates the will and is responsible for administering the affairs of a deceased, including settling all outstanding taxes from the deceased persons estate.
The trustee is the person charged with administering the affairs of a trust. The trust may be set up by a living person, or on the death of a person (if contained in the will).The executor can be the trustee is the same person is charged with creating the trust on the death of a person and is named the trustee in the will 😀
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