Being designated to be an executor or administrator of an estate is a big responsibility. You must carry out the decedent’s wishes, but you also need to follow strict federal and state laws. At NC Planning, we offer a personalized, high-touch High Point, NC probate & estate administration service to help you:
- Understand and carry out your obligations
- File all of the necessary paperwork
- Notify all parties involved, such as beneficiaries, heirs and creditors
- Inventory all assets and file them with the probate court
- Pay debts in the right order and from the estate checking account
- File and pay any estate taxes that might be necessary
- Guide you through all additional probate and estate administration
You must administer the estate properly even though you are facing a difficult time without a loved one or friend.
Contact us and we will help you through the probate and administration process.
Case Illustration
John listed Kim, his sister, as executor of his estate in his will. He also named her guardian of his minor child and has a trust that Kim needs to administer until the child is 25 years old.
For Kim, she has a major responsibility thrust on her shoulders, including:
- Listing all assets of the estate
- Following John’s will to divide assets properly
- Selling her brother’s accounting firm
- Paying off the estate’s debts
She’ll also need to manage assets for John’s child until she reaches a certain milestone, deal with taxes, and comply with federal and state laws.
Kim has a long road ahead, but an attorney experienced with estate and trust administration can help streamline the process and ease her stress.
What is Probate & Trust Administration?
Probate and trust administration are different. Consult with our legal team to determine what steps in the probate process are required, if any.
- Probate is a legal process that you must follow after a person’s death. The probate process is designed to help transfer all assets to new owners and pay off debts. It may follow intestacy laws if no will and testament exist.
- Trusts are estate planning tools that allow a person to transfer assets to the trust. Trust administration is the process of distributing all assets in the trust to beneficiaries.
Trusts do have their benefits, such as minimizing taxes and avoiding probate. Decedents can also leave behind instructions on how to manage the trust.
An estate will go through probate, but a trust will not, although it does need to be administered properly.
What Do Estate Administration Attorneys Do?
Our High Point, NC probate & estate administration helps estates avoid lengthy probate when possible and comply with state and federal laws. We help estates that may have extensive plans in place, such as:
- Trusts
- Charitable plans
- Businesses
An attorney can help through the entire administration process, including probate and trust administration.
What are the Advantages of Hiring an Estate Administration Attorney?
Losing a friend or loved one is never easy. While you may be honored to serve as the Personal Representative of the decedent’s estate, grief can make it challenging to know how to proceed.
Probate and estate administration is a complicated process. Rules must be followed, or it can lead to costly and lengthy complications.
Hiring an estate administration attorney can make the process far less stressful. An attorney can assist with every step of the process, including:
- Locating and gathering assets
- Notifying beneficiaries
- Paying debts and taxes
- Handling court matters
If you were named a Personal Representative for an estate, give us a call or contact us online to schedule a call. We can help you navigate the process and ensure that you avoid common mistakes.
How Does the Estate Administration Process Work in NC?
Estate administration is the process of handling a person’s assets and debts after their death. In the state of North Carolina, estates that go through the full administration process must follow a very specific procedure that is overseen by the courts.
The Personal Representative named in the will must first submit the original will and death certificate to the clerk of the superior court where the decedent last lived.
The clerk of court must review and approve the appointed representative before the administration process can begin.
Once started, there will be deadlines the representative will need to meet, and tasks must be carried out in a specific order.
- First, assets are gathered and inventoried.
- A notice is published to creditors, who are given a window of time to make claims.
- All valid debts and taxes must be paid. In some cases, creditors must be paid in a specific order.
- The remaining assets are then distributed to heirs as per the decedent’s wishes.
Certain assets may not have to go through the probate process, including:
- Any property held with a right of survivorship or a transfer on death, payable on death or beneficiary designation should avoid probate.
- Land and houses don’t typically go through the probate process unless these assets must be sold to pay debts, or the will states otherwise.
Estate administration can be complex. The larger the estate and the greater the number of assets, the more complicated it becomes. Financial advisors may need to be brought in for advice, and taxes may also be a concern.
Working with an attorney experienced in High Point, NC probate & estate administration can help ensure the process goes as smoothly and efficiently as possible.
That’s where we come in. At NC Planning, we have extensive experience guiding estate representatives through the administration process.
Contact us today to schedule a consultation and learn how we can help you avoid common mistakes that can complicate the estate administration process.
Choosing the Right Estate Administration Attorney to Help You Navigate the Administration Process
When it comes to estate administration, finding the right attorney is key. While there are several things to consider when choosing a legal professional, some of the most important ones include:
- Experience with probate and estate administration. Look for someone who knows the probate process and the common pitfalls that personal representatives face. Their knowledge and skill can help ensure the process goes as smoothly as possible.
- High-touch, personalized service. Smaller firms can deliver a higher level of service and will take the time to understand the challenges you face. A responsive team that’s focused on problem-solving will make the process less stressful.
- A positive reputation. Does the attorney and firm have positive reviews and client testimonials? Happy clients are a sign that they deliver quality service and solve problems.
At NC Planning, we believe in building lasting, strong client relationships, and we’re passionate about helping our clients solve their problems.
We know that estate administration can be complicated and overwhelming. Let us simplify things and guide you through the process.
How NC Planning Will Help You Plan for the Road Ahead
For years, our legal team has been helping clients navigate the High Point, NC probate & estate administration process. Through reliable and trustworthy legal counsel, you can avoid costly mistakes that can complicate the estate administration process.
Our firm helps clients in High Point as well as Cary, Raleigh & Wilmington, NC.
Give us a call today or contact us online to schedule a consultation to learn how we can help with your estate administration needs.
