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How to Prepare for Probate and Estate Administration in North Carolina

September 27, 2011 in NC Probate Law by Allen Starrett  |  1 Comments

Angel StatueYou’ve lost a loved one. Let us offer our condolences.

We recognize the days and weeks ahead will be difficult on many levels, not the least of which is preparing for North Carolina’s probate and estate administration procedure. Our experience suggests that the steps below apply in most circumstances and will help guide you through the next several weeks.

First, act immediately. You should waste little time making certain arrangements. For example, notify family and friends of the death. Call the funeral home and start to plan a service that honors the decedent. Arrange for the care of any dependent of the decedent, such as a minor child or an elderly spouse, as well as any pet. Secure the decedent’s residence and safeguard, but do not distribute, the decedent’s property for the time being. Write the obituary.

Second, get organized within two weeks. While communicating with the funeral director, request ten certified copies of the death certificate. Gather all paperwork and information relating to the decedent’s property and accounts such as bank accounts, life insurance policies, and retirement accounts. From this data, draft an estimated inventory of the decedent’s assets. Also, list all known liabilities. Locate the decedent’s original will and trust. Track all of your time and expenses for the actions you are taking.

Third, call an attorney within three weeks. Scheduling a consultation with a trusts and estates attorney is one of the most prudent actions you can take in this situation. There are numerous rules and deadlines that must be observed in probate and estate administration. A wrong or delayed decision can be a costly mistake. After the consultation, you will be more familiar with the process and better able to assess if hiring an attorney for ongoing advice is appropriate.

Finally, don’t forget to grieve. Reflect on the loss of your loved one and what it means to you. Stay in close contact with your family and friends for support. Realize there’s no timeline for finding closure. Take things one day at a time.

For more information on North Carolina probate and estate administration and to discuss your specific circumstances, please contact our office today at (704) 887-4944 or info@starrettlawfirm.com to schedule a consultation.

Starrett Law Firm is a Charlotte estate planning, probate, and business law firm in Ballantyne that serves clients across the greater Charlotte area and North Carolina. We help clients understand complex legal principles and make sound decisions that protect them as well as their families or businesses. For more information about the firm, please visit our website at www.starrettlawfirm.com.

Pros and Cons of Handwritten Wills in North Carolina

June 28, 2011 in NC Estate Planning Law, NC Probate Law by Allen Starrett  |  No Comments

Theater MasksNorth Carolina recognizes the validity of handwritten wills. Under NC law, a handwritten will must satisfy the following requirements:

  • Written entirely in the handwriting of the testator (the will-maker);
  • Subscribed by the testator, or with his name written in or on the will in his own handwriting; and,
  • Found after the testator’s death among his valuable papers or effects or in a place of safekeeping.

Also, no special language or formatting is required. A handwritten will must simply satisfy the above three elements to be valid in NC. Thus, handwriting a will may appear an easy (and cheap) method for arranging to dispose of one’s possessions at death.

However, handwriting a will is only half of the story. A handwritten will must also be proven or probated after the death of the testator to take effect. In other words, the probate court must determine that the handwritten will is, in fact, valid under NC law. To make its assessment, the probate court will require testimonies from competent witnesses to corroborate (1) the handwriting of the testator and (2) the location of the will at the time of the testator’s death.

For this reason, handwritten wills may not end up being as easy (or cheap) as first believed. One of the estate planning goals for many families is to reduce the complexities of probate, if not avoid it entirely in the first place. Yet, probate is unavoidable in cases of handwritten wills, and arranging for proper witness testimonies to comply with NC law costs time and money.

Additionally, handwritten wills are not recognized in all states. Keep this in mind if you and your family move frequently. Your handwritten will that may be valid in NC may be invalid after you relocate.

For more information on wills and to discuss your specific circumstances, please contact our office today at (704) 887-4944 or info@starrettlawfirm.com to schedule a consultation.

Starrett Law Firm is a Charlotte estate planning, probate, and business law firm in Ballantyne that serves clients across the greater Charlotte area and North Carolina. We help clients understand complex legal principles and make sound decisions that protect them as well as their families or businesses. For more information about the firm, please visit our website at www.starrettlawfirm.com.

The Duties of an Executor in North Carolina

October 26, 2010 in NC Probate Law by Allen Starrett  |  No Comments

Old Family PhotosAn executor is the person who is named in the will and appointed by the probate court to settle a decedent’s estate. Relatives, close friends, and trusted advisors are usually selected to serve as executor and perform a number of important duties. The list below is offered only as general guidance of some of the duties that an executor may perform when settling an estate in North Carolina.

  • Locate the will
  • Schedule a family conference
  • Gather information about the decedent and his or her assets
  • Consider hiring professional advisors to assist with settlement
  • Probate the will and apply for Letters Testamentary with the Clerk of Court
  • Prepare and publish the Notice to Creditors
  • Obtain the estate’s tax identification number
  • Open the estate’s bank account and keep detailed records of all account activity
  • Locate, marshal, and secure estate assets
  • File the Inventory with the Clerk of Court
  • Identify all debts of the decedent and decide whether to pay or reject each claim
  • Disburse funds to pay debts and administrative expenses
  • File tax forms and pay taxes due
  • File the estate’s annual account with the Clerk of Court
  • Distribute assets to the estate’s beneficiaries and obtain receipts from beneficiaries
  • File the estate’s final account with the Clerk of Court

Bear in mind that strict deadlines apply to the items above. Also, even a seemingly “simple” estate can take approximately one year to settle properly. For more information on serving as an executor in North Carolina and to discuss your specific circumstances, please contact our office today at (704) 887-4944 or info@starrettlawfirm.com to schedule a consultation.

Starrett Law Firm is a Charlotte estate planning, probate, and business law firm in Ballantyne that serves clients across the greater Charlotte area and North Carolina. We help clients understand complex legal principles and make sound decisions that protect them as well as their families or businesses. For more information about the firm, please visit our website at www.starrettlawfirm.com.

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