Quick answer: an executor is named in a valid will and gets Letters Testamentary. An administrator is appointed when there's no will (or no willing/able named executor) and gets Letters of Administration instead. The compensation rules are identical. See how this affects your own estimate in the New Jersey probate timeline calculator.
Side by side
| Executor | Administrator | |
|---|---|---|
| Appointed via | Named in a valid will | Court appointment, intestacy priority rules |
| Letters issued | Letters Testamentary | Letters of Administration |
| Bond typically required? | Often waived if the will says so | Often required, absent a waiver |
| Commission | N.J.S.A. 3B:18-14 | N.J.S.A. 3B:18-14 (same schedule) |
When there's no will
The bond difference is often the bigger practical gap
Many wills specifically waive the bond requirement for a named executor, which is common and saves both cost and time. An administrator appointed without a will, by contrast, often has to post a bond absent a similar waiver — adding an extra step, and sometimes real cost, that an executor working from a well-drafted will may skip entirely.
A local probate attorney can review your estate — many offer a free consultation.