Erfðastjórar

Erfðastjórar is the Icelandic term for executors of a will. When an individual passes away, their will often names one or more individuals, known as erfðastjórar, to manage the distribution of their estate. These individuals are responsible for carrying out the wishes of the deceased as outlined in the will.

The duties of an erfðastjóri typically include identifying and inventorying all assets and liabilities of the estate, paying off any outstanding debts and taxes, and distributing the remaining assets to the beneficiaries named in the will. They must act in good faith and in the best interests of the beneficiaries. In some cases, the court may appoint an erfðastjóri if no executor is named in the will or if the named executor is unable or unwilling to serve. The process of estate settlement can be complex, and erfðastjórar may seek legal or financial advice to ensure they fulfill their responsibilities correctly.