Probate is the process of transferring ownership of property, including assets such as cash, real estate, and investments, after someone’s death. The beneficiaries are often family members of the deceased. In North Carolina, probate is handled by the court system.
North Carolina has a probate system similar to the probate systems in other states; it is divided into two phases: administration and distribution. The North Carolina estate planning attorneys at Wilson Ratledge will explain these and other things you need to know about the probate process in North Carolina.
Estate Administration During Probate in North Carolina
When a person passes away, their assets and liabilities become the responsibility of the court. This process is called “Estate Administration During Probate.” During estate administration, the court will settle the deceased person’s debts and make sure that their assets go to the people they were meant to go to.
The process of estate administration can be complex, but it must be done correctly to protect the interests of those who are entitled to inherit. There are many steps involved in estate administration, and each one must be completed for everything to go smoothly.
The steps involved in estate administration during probate can vary depending on the type of estate being handled, but typically they include the following:
1. Checking to see if there is a valid will in place. If there is, it will dictate the steps that will be taken after the decedent’s death to settle their affairs.
2. Appointing of a personal representative who will help with the identification of heirs and determination of their claims to the property. If there is a personal representative mentioned in the will, the court will most often ask them to go ahead with these duties.
3. Appraisal of assets and preparation of an inventory list. These are important as all debt needs to be settled before the rest of the estate is distributed.
Estate Distribution in North Carolina
After the estate administration process, if there is a valid will, and all debts have been settled, the estate will be distributed in accordance with the terms of the will. However, if the decedent has no will, the distribution of an estate in North Carolina will be governed by the state’s intestacy laws. These laws determine who inherits what property from a deceased person’s estate. In most cases, an individual’s closest living relatives will inherit the majority of the estate.
However, there are a few exceptions to this rule. For example, if a person leaves no surviving spouse or children, the estate will be divided equally between their parents and siblings. If there are no parents or siblings, the estate may be passed on to distant relatives. Additionally, if a person has left no descendants at all, the entire estate will go to the state.
Are All North Carolina Wills Required To Go Through the Probate Process?
In North Carolina, all wills must go through the probate process to be effective. This means that the will must be filed with the appropriate court. Once filed, that court will oversee the management of the estate to ensure that it is distributed as instructed by the will.
There are certain exceptions to the probate rule (we will discuss this in the next subheading), but for the most part, all wills in North Carolina must go through the probate process.
If there are any questions about how a will is going to be executed, it is important to get help from a lawyer. Going through the probate process can be complex and can take a long time, so it is important to have someone who understands what they are doing on your side.
How To Help Your Loved Ones Avoid Probate
If you would like your loved ones to skip probate, there are ways you can help them avoid it. To get started with this, you need to speak with a lawyer.
Depending on the specifics, the attorney may recommend a living trust, a special needs trust, payable on death accounts, etc., to help your loved ones avoid the probate process altogether.
Speak to an Attorney
Estate planning and probate can be a daunting task, but the Raleigh estate planning attorneys at Wilson Ratledge can help make the process easier. Our attorneys are experienced in these areas and are happy to speak with you about your specific needs.
We can help you create a plan for your estate that takes into account your wishes and the needs of those you want to leave behind. If you are a family member of a decedent, you can also reach out to us if you want to make sure you have all of their documentation in order.
We are experts, and we will be happy to speak with you about your specific situation. Simply call 919-391-4210 to get started.