An executor or administrator of an estate does a lot more than follow a person’s will, distribute assets and walk away. You have a duty to comply with state and federal laws, and without the guidance of a Morrisville, NC probate & estate administration attorney, you may not know when to:
- Pay creditors and in which order
- Distribute assets to heirs
- Pay taxes
We know that the death of your close friend, relative or loved one is filled with emotions. You might not be prepared for the stressful administration of the decedent’s estate, but you have a responsibility to carry out the person’s wishes – if written down.
Our legal team has the experience and knowledge to guide you through this trying time and all of the administration-related matters you may face.
Schedule a consultation to learn how we can help you through probate and estate administration.
Case Illustration
Sean’s aunt died. She is widowed, and she has children. However, she named her nephew as the executor of her estate in her will. While honored, he doesn’t know the first thing about estate administration, and seeks the help of an attorney.
He was afraid that he would have to pay the attorney out of his own pocket, so he was relieved to find out that the costs may be able to be paid by the estate..
An attorney helped Sean handle:
- Notifying all creditors, beneficiaries and other parties of his aunt’s death
- Filing any paperwork that needs to be submitted by the estate
- Distributing assets as per the aunt’s will
- Selling any real estate
- Liquidating assets
- Paying debts properly
- Filing taxes
Sean will also need to adhere to deadlines and avoid any abuse of power because he may be sued by heirs or even creditors if he is found liable for any wrongdoing.
A Morrisville, NC probate & estate administration can help Sean with all areas of probate, estate and trust administration.
What is Probate & Trust Administration
North Carolina requires all estates, whether or not there is a last will and testament, to enter the probate process. Probate is a legal process that requires:
- Listing and assessing all assets
- Paying the estate’s debts
- Paying the estate’s taxes
- Distributing assets
Probate is court-supervised, and if no will exists, an executor of the estate will be appointed to handle all estate matters.
Estate planning helps a decedent, or the person who died, leave express instructions on how they want assets in the estate to be distributed as well as who the executor of the estate may be.
Without a will or a trust, assets will go through the law of intestacy, which outlines how property is divided. For example, a spouse and children will inherit the assets, but if none exist, then parents, siblings, grandparents, aunts and uncles and so on will take priority.
A trust may also need to be administered. A trust is an entity that holds assets and will have its own terms in what is known as a trust instrument.
Multiple trust types may exist, and if a child exists, a testamentary trust may be created by a will and allows the child’s inheritance to be managed.
What Do Estate Administration Attorneys Do?
An administration attorney is a legal professional who knows state and local laws and can help the estate’s executor through the administration process. An estate can hire a lawyer, often paid for through the estate, and have legal guidance throughout the entire process.
Larger estates may have multiple parts of a plan that must be followed, and an attorney can help with:
- Wills
- Trusts
- Filings
- Handling debts and creditors
Probate comes with a legal duty for which the executor is responsible. If mistakes or errors are made, the executor may be held personally liable. An attorney helps with all aspects of probate and following an estate plan to ease this burden.
What are the Benefits of Hiring an Estate Administration Attorney?
Estate administration can be a lengthy and time-consuming process. The right steps must be taken at the right time to avoid complications and potential legal claims.
There are many advantages to working with an experienced Morrisville estate administration attorney who can guide you through the process.
A reliable and knowledgeable attorney will:
- Understand how NC courts work and the probate process
- Help you avoid common, costly mistakes
- Take steps to protect the estate from legal claims
- Ensure the administration process moves as smoothly and quickly as possible
An attorney is especially invaluable when dealing with complex and large estates that may involve overseas property and multiple investments.
How Does the Estate Administration Process Work in NC?
In North Carolina, the estate administration process starts with the Clerk of Court’s office where the decedent lived or owned property.
The original will may need to be filed (if available), along with a death certificate.
The Clerk will review the application for probate and verify the death certificate and will to determine whether the Personal Representative can administer the estate. If there is no will, the Clerk of Court will appoint someone to serve as the Personal Representative.
If the will is valid, the estate administration process can begin.
Personal Representatives are responsible for handling many tasks when administering an estate, and there are deadlines that must be met.
These tasks include:
- Gathering the decedent’s assets
- Settling debts
- Paying relevant taxes
- Informing beneficiaries of the estate
- Distributing the estate’s assets as per the decedent’s wishes
The process seems straightforward, but in reality, it is quite complex. Attempting to go through the administration process without the help of an experienced lawyer can be risky.
The Personal Representative may have to publish a notice to creditors and process payments for valid claims. Illegitimate or unreasonable claims must be challenged, and creditor disputes must be resolved before the administration process can proceed.
Creditor payments may have to be made in a certain order. If that order isn’t followed, the window for claims may be extended, and the Personal Representative may even have to pay out of their pocket.
Assets may also be distributed at the wrong time, leading to complications and delays in the administration process.
At NC Planning, we understand Morrisville, NC probate & estate administration and the common pitfalls that can complicate the process. Our experienced team can guide you every step of the way.
How to Choose the Right Estate Administration Attorney to Secure Your Legacy
Without legal guidance and support, probate and estate administration can be complex. The right attorney can simplify things and help you avoid common mistakes that can make the process more costly and lengthy.
Ideally, your attorney will have:
- Experience with probate and estate administration.
- The resources to guide you through all matters related to trust, probate and estate administration.
- A client-centric approach to ensure your problems are solved and your questions are answered.
At NC Planning, we believe in building strong client relationships. Our team will take the time to understand where you are at in the administration process and your concerns, so we can help you navigate the steps ahead.
Planning is what we’re all about, and we have the resources and skill to make the administration as simple and stress-free as possible.
How NC Planning Will Help You Plan for the Road Ahead
If you were named a Personal Representative of an estate, NC Planning can help you understand your next steps and guide you through the process.
Our legal team is well-versed in Morrisville, NC probate & estate administration.
Get in touch with us today to schedule a consultation. Our firm also operates out of offices in Cary, Raleigh and Wilmington, NC to better serve our clients.
