Estate Administration & Probate
In North Carolina, a loved ones assets will be probated according to their will. If they fail to have a will, the state will dictate how their assets will be distributed. It is important to have proper estate planning documents in place. See: Estate Planning
Lake Norman Law Firm realizes when a loved one dies that estate administration can be complicated and confusing. Most individuals are not aware of the legal process in probating an estate. We are here to assist you in the administration or handle the administration on your behalf from start to finish.
Every estate is unique, but most involve these procedures:
- Filing of a petition within the proper venue.
- Noticing heirs.
- Filing to appoint an Executor / Administrator.
- Filing of inventory and appraising assets.
- Paying estate debt to creditors.
- Possible sale of estate assets.
- Payment of taxes when applicable.
- Final distribution of assets.
- Closing of the estate
Lake Norman Law Firm looks forward to assisting you and can provide you with Smart Honest Legal Advice during a difficult time.
Frequently Asked Questions
What is Probate?
The legal process through which the estate of the Decedent is administered. This term is also called Estate Administration.
Will Probate Be Necessary?
Probate is required only if the Decedent owned assets in his or her name alone.
What County do I Administer an Estate?
Most estates are administered in the county where the Decedent passed.
What is a Decedent?
Decedent is the term used for the individual who has passed.
What is an Executor?
The Executor of an estate is named in the will of the Decedent. This person is responsible for filing all probate documents, locating all assets, and notifying all creditors of the Decedent’s death, along with all other aspects of estate administration.
What is an Administrator?
If the Decedent has no will in place, the law states that certain persons can apply with the clerk to administer the estate. Once the clerk approves the application, the Administrator will have the same duties as the Executor.
What is a Beneficiary?
A Beneficiary is anyone named in a will to receive assets. Again, if no will, the law dictates who the beneficiaries of the Decedent’s estate will be.