Being named an executor of a will is a serious responsibility, but most people who are selected know nothing about how to perform the role.

An executor's job is to handle the estate of a deceased person, says Sandra Price, a San Francisco-based tax and estate planning partner at Sideman and Bancroft, who specializes in post-death administration.

"When someone comes into my office fresh, not knowing what to do, I usually tell them that all they have to do is identify the assets and value them, pay the debts, and then distribute the assets according to the will. During the period, they need to make sure the assets are protected," she says. "Then I say, my emphasis is that's 'all' they have to do. But the devil is in the details."

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Here are four facts to know about the role of an executor of an estate.

An executor is a fiduciary . "A fiduciary is a fancy word for the person who's liable if they don't do it right," says Mark Accettura, elder law attorney with Accettura and Hurwitz in Farmington Hills, Michigan, and the author of "Blood and Money: Why Families Fight Over Inheritance and What To About It."

That means the person who is named must follow the wishes of what's been written in the will. "If they are going to deviate from that in any way, they have to get court approval," Accettura says.

You may have to get help . In some states, like Texas, an executor must have an attorney except for limited circumstances, says Robert J. McGuire, probate and estate planning attorney at Godwin PC in Dallas.

"You're not really representing yourself as an executor," McGuire says. "You're really representing other heirs most likely, or you also have some duty to creditors."

Wills often go through probate, which means going to court, so an attorney can guide the executor through the process. Price says people who want to research the details of estate law in advance of meeting a lawyer can visit websites like Nolo.com, which has information on various aspects of law. But it's important that executors obtain information that is state-specific since laws governing wills vary.

Having an attorney also helps if there is any contention, such as someone who might claim to have a newer version of a will, or argues that the person named executor is incapable of the task.

If the estate is large, the executor may also want to speak to other professionals – accountants to help with the deceased's final tax return, a real estate broker to sell property, or someone who specializes in collectibles – to help the process go smoothly, Price says.

All of the professionals are paid from proceeds from the estate.

Secure the estate as soon as possible . That means being proactive with things like changing the locks on a house and gathering the keys to all vehicles.

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"If someone is driving the car, it exposes the estate to liability," Accettura says.

This also means informing heirs and creditors quickly, too. For creditors, Accettura says executors need to create a legal notice to creditors, which is published locally. The notice alerts creditors who have loaned money to the deceased person that the creditor has a limited time to make a claim, otherwise it's barred.

McGuire says take time when dealing with creditors.

"You don't want to pay those claims until they have been properly authenticated," he says. "There might be other things that apply like statute of limitations, but otherwise you put the burden of proof on the creditor. You can always negotiate claims with creditors, even after you've determined them to be valid. You want to play hardball with the creditors, because you owe more a duty to the heirs than to creditors."

Communicate with beneficiaries . All three experts say it's important to talk to beneficiaries so they are aware of the process, which can take at least six months or more.

"Heirs want to know when they get distributions. They only get their distributions when an executor has made that determination that the proper debt have been paid," McGuire says.

However, they all say that partial distribution of the estate may satisfy heirs while the estate is being settled. That can include passing out small, tangible items like favorite pieces of furniture or jewelry than do not need to have a separate appraisal.

"The tangible items can be distributed easily and quickly, and a lot of times it's driven by the economy – if it's an apartment that's rented, you need to vacate the apartment," Price says. "Sometimes there are other factors that are driving the promptness."

Executors who make partial distributions to heirs first need to make sure there's plenty of assets left to pay creditors.

"If executors over-distribute, they may be personally on the hook. Once the assets are distributed, the beneficiaries don't have to give back the assets" if a creditor needs to be paid, Price says.

When distributing assets, executors must not get intimidated by others.

"As a fiduciary, you want to be transparent and communicate with the beneficiaries, but on the other hand, it's not a democratic process. You are in charge," Accettura says. "Other family members, if they become intrusive and you don't push them back somewhat, you lose control of the process, and the next thing you know you have bedlam."

Executors need to document everything they do regarding the will, which also helps in disputes.

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"If you maintain good records, we'll always be able to defend you. If anyone complains, we'll be in a position to defend you, unless you've done the cardinal sin and benefiting yourself over others, because you're a fiduciary," McGuire says. "You don't get the best choice, even if you're an heir. You have to take others' considerations ahead of yours."

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