trustee vs. executor definition
An executor is a person named by the deceased in his will to execute the provisions of the will and appointed by the court to perform this role. Once the probate court appoints the person named by the deceased as an executor, he becomes eligible to administer the estate.
A trustee manages property that is held in trust. A trust is an arrangement in which one person holds the property of another for the benefit of a third party, called the beneficiary. The beneficiary is usually the owner of the property or a person designated as the beneficiary by the owner of the property. A trustee may be either an individual or a corporation. Trusts are useful for investment purposes, and they offer various tax advantages.