North Carolina Estate Administration Attorney
After the death of a family member, or sometimes a close friend or a loved one, you may be needed as the executor or administrator of their estate. The legal estate process, also called probate, is collecting the assets, paying the debts, and distributing property to heirs. It is a formal legal proceeding filled with forms, accountings, deadlines, responsibility and liability. Our clients hire our firm so we can guide them through the process, do the hard work, make sure things are done correctly, and keep our clients out of trouble.
Losing someone important to you is often a stressful and emotional time in your life. Our law attorneys and staff will make the estate process as easy as possible for you, and treat you with compassion and care. Contact us at Laskody Law Office, PC, at (919) 589-3979.
The Steps of North Carolina Estate Administration (Probate)
Generally an estate administration follows a pattern created by North Carolina estate and probate law:
- Determining whether an estate needs to be opened or if it can be avoided
- Applying to be executor (if there is a will) or administrator (if there is no will)
- Probating the will (the court accepting the will)
- Posting a bond (if needed)
- Securing assets (for example a vacant house)
- Identifying and valuing assets
- Filing an inventory of assets
- Coordination with heirs and beneficiaries
- Running the notice to creditors in order to determine the debts of the decedent
- Paying estate debts
- Distributing estate assets to the beneficiaries
- Filing final accountings and closing the estate
If there is no will, this job can be even harder. In that case, an estate planning attorney can be of great assistance.
Of course, the probate court will be involved, so in case you are named as an executor of the estate, you have to make sure you know what petitions you have to submit, and what is the best way to fulfill your duties.
Also, have in mind that gathering the deceased’s assets and making an inventory can be more difficult than it seems. His or her estate may also include assets and properties that are not included in the will and it may take a while to locate them. In addition, valuing assets can have important effects on the value of the estate as well as the estate tax. Even a minor error can cause problems.
Determining and paying what a decedent owed is another important task. Creditors may need to receive an official notification that an individual died so that they can determine the amount of debt that has to be settled.
If you are worried you’ll make a mistake as an executor or you are concerned about your rights as an heir, contact us as soon as possible because it can be hard to recover assets that are not distributed properly. Our attorneys at Laskody Law Office have years of experience in estate litigation. We will do everything in our power to help you.
How Can North Carolina Estate Administration Attorneys Help?
A spouse or an immediate relative usually serves as the administrator of the estate if there is no will. If you are named as an executor of the estate, in addition to all other tasks you have to make sure that the deceased’s person’s wishes are carried out and that his or her assets are distributed to the beneficiaries.
If you are not sure what to do, make sure you reach out to an estate planning lawyer. With the right legal guidance, you can ensure mistakes that may cost your family the estate can be avoided. Even if you make an unintentional error, you as an executor will be held responsible.
Tax issues are among the most common probate mistakes. Failure to submit appropriate IRS forms may result in fines. Without the assistance of a skilled lawyer, anyone can make tax mistakes. Missing deadlines as well as not understanding probate laws well can also lead to financial losses.
Being named as an executor is serious because you are held liable for every potential mistake you may make. Don’t risk, consult probate lawyers for legal help or guidance.
In addition to estate disputes and spousal elective shares, Laskody Law Office can also help you with the estate planning and probate process. Our estate administration attorneys are committed to helping clients throughout North Carolina state. We have the skills and legal resources to handle all probate, trust, and estate administration matters.
Clients Trust Us for Simple or Complex Estate Administration
While estate administration in North Carolina can sometimes be a simple matter, it can also be surprisingly complicated. Some of our clients tell us sad stories from family members and friends who had bad experiences with probate. Please do yourself a favor and hire an experienced probate attorney from the beginning.
Most estate administrations take between six months and a year. More complex cases take longer, sometimes taking several years. Whether it is simple or complex, short or long, at Laskody Law Office we minimize the stress for our clients. Contact us at Laskody Law Office, PC, at (919) 589-3979.