Commonly, residents of North Carolina who die with or without a will have their estate go into the probate process. Executors or administrators of an estate must follow state and federal compliance laws to carry out the deceased’s wishes. As a Murraysville probate, trust & estate administration attorney, we understand that this process is a lot more complicated than it seems at the onset.
You have a responsibility to follow compliance laws and deadlines that you don’t know or fully understand while also dealing with:
- Family dynamics
- Asset classes
- Creditors
- Insurance companies
- Mourning the loss of a loved one
If there’s no will in place, you must follow North Carolina laws to determine how the distribution of assets must be handled.
We handle estate administration, probate, and trust matters for our clients, helping them close an estate with peace of mind and ensure that all legal processes are properly followed.
Estate Administration Illustration
Sarah’s father, Bill, died after a long life in Murraysville. After his wife’s death, he raised three children alone. While her father was always humble, he also had significant assets, investments, retirement accounts, and debts.
Bill was also head of the family business, and he never put a succession plan in place.
Sarah is now dealing with:
- A business partner who jointly owns the real estate where the property is located.
- Creditors who are filing claims against the estate and a large medical bill that needs to be paid.
- Disputes between Sarah and her siblings.
Sarah has been dealing with issues for over a year, trying to administer the estate to the best of her ability while dealing with legal fees and disputes. Now, cash flow issues are impacting some of the real estate her father owned.
The complexities of the estate were unexpected, but as a Murraysville probate, trust, and estate administration attorney, we often see this scenario. Executors and administrators are put into a difficult role, and we help make it easier by providing them with dependable legal counsel.
What is Probate and Trust Administration?
Probate and trust administration are two parts of closing out an estate, but an estate may not have a trust in place. Larger estates often use trusts to:
- Control assets distribution
- Bypass some probate issues
- Keep details of the estate private
- Protect assets and plan for incapacity
- So much more
Frequently, even if a person has a will, the estate will go through probate, which is a way to ensure that the executor follows the decedent’s wishes and does not breach their fiduciary duty to the estate. Probate will see all the assets in the estate inventoried, creditors paid, death certificates filed, taxes filed and paid, executors named or approved, and the final accounting filed with the state.
A trustee will act in a similar fashion, but in most cases, the court will not be involved.
Both processes aim to distribute assets for the decedent and their heirs/beneficiaries.
What Do Estate Administration Attorneys Do?
Estate administration attorneys help executors and administrators carry out their duties in accordance with state and federal laws.
An estate administration attorney can:
- Help you understand your responsibilities and what’s expected of you as executor.
- Assist with appraising assets when necessary.
- Ensure you’re in compliance with state laws.
- Represent the estate in court if needed.
- Minimize the risk of conflicts and disputes.
- Make the entire process less stressful for all parties.
As an estate executor or administrator, following North Carolina’s estate administration process is a top priority.
Understanding the Estate Administration Process in North Carolina
Every state has its own rules and regulations for estate administration (probate). North Carolina is no exception.
The local probate court will be involved in the process regardless of whether or not there was a will. Generally, probate will involve:
- Being officially named executor by the Clerk of Court in New Hanover County.
- Gathering and inventorying the decedent’s assets.
- If necessary, appraising the decedent’s assets.
- Paying any outstanding debts belonging to the estate.
- Filing the decedent’s final tax return. In cases where significant assets are involved, the estate may also need to file a tax return.
- Distributing remaining assets to beneficiaries according to the decedent’s will or the state’s intestacy laws.
Before officially closing the estate, certain paperwork must be filed with the court.
Although the administration process may seem straightforward, it can easily become complicated, delayed,, or costly if you misinterpret the law, overlook deadlines, or fail to pay creditors properly.
An attorney can help you avoid common pitfalls of managing an estate, ensuring that you remain compliant and meet the court’s deadlines.
Selecting the Best Estate Administration Attorney for Your Family
Hiring an attorney can make estate administration less stressful and overwhelming. When choosing an attorney, there are several important things to consider, including:
- Experience and focus. It’s important to look for an attorney with experience in Murraysville probate, trust & estate administration. They will understand North Carolina’s estate administration process and how to overcome common challenges executors face.
- Client care. Look for an attorney who takes a client-centric approach to their services. Every estate is unique. Your attorney should take the time to understand your individual situation and offer recommendations based on your unique needs.
- Communication. Estate administration is a multi-step process with deadlines and regulations that you must comply with as an executor. You will likely have questions and concerns both before and during the administration process. Will your attorney answer these questions in a timely manner? At NC Planning, we respond to clients the same business day to at least schedule a call at the next available time. We know that you face many unknowns as an executor. We’re here to ease your mind and help you understand what to expect.
Your initial consultation with an estate administration attorney is an opportunity for both parties to assess their fit for one another. Use this initial meeting as an opportunity to ask questions and gauge whether the attorney is a good fit for you. Remember that estate administration can be a complicated and, at times, emotional process. It is crucial to work with an attorney you find trustworthy and comfortable with.
How NC Planning Will Help You Plan for the Road Ahead
Being appointed executor of an estate comes with great responsibility, but it also comes at a time when you are grieving the loss of a loved one. You don’t have to go through this complex process alone.
The skilled attorneys at NC Planning are experienced in Murraysville probate, trust & estate administration. We can help ease your burden and guide you through the process, providing sound legal guidance every step of the way.
Our firm focuses on building strong client relationships, which allows us to provide the highest level of personalized service possible. Before making recommendations or advising clients, we get to know them and their unique situations.
Let us help you navigate the road ahead and ease the stress of estate administration so you can focus on what’s most important: grieving your loss.Contact us today or call our Wilmington office to schedule a consultation. We offer additional convenient locations in Cary, Raleigh and Greensboro, NC to better serve your estate administration needs.
