I often receive calls from individuals whom were told by the bank that they need to be appointed as the Executor or Administrator of an Estate before any financial information on the decedent is released; and they want to know what that means. What is an Executor? What is an Administrator? They have the same [...]
Tag Archives: north carolina last will and testament
October 8, 2010
What is Probate?
Probate is a legal procedure required by North Carolina Statutes to distribute the assets of a person who has died with a Last Will and Testament. If the person did not have a Last Will and Testament, then the procedure is called an Administration. It is filed in the county where the person resided at [...]
September 9, 2010
What Happens if a Home Does Not Get Placed Into a Revocable Living Trust?
One of the reasons why people choose to create a Revocable Living Trust versus a Last Will and Testament is because (if done properly) a Revocable Living Trust will avoid probate. The way a Revocable Living Trust avoids probate is by transferring certain assets into the Trust and retitling the owner as the name of [...]
September 2, 2010
10 Things to Think About Regarding an Executor
There are many considerations to be made when either appointing an Executor in a Will or obtaining an appointment as an Executor. There are many valid reasons why a named Executor in a Last Will and Testament may not want to accept the appointment. On the other hand, there are many reasons (both legal and [...]
July 13, 2010
How family values factor into an Estate Plan
My girl friend recently tried to make homemade tomato sauce. I don’t mean opening a can of purée and adding some seasonings. I mean using tomatoes fresh off the vine from her back yard, boiling, peeling and cooking them. It is some chore, but when it is all said and done, it is mouth watering! [...]
October 26, 2009
North Carolina Wills: Information From The North Carolina Court System
While most people have heard the term “will” used at some point in their lives, it is worth taking a moment to discuss just what exactly a will is, and why it is something worth having. According to the North Carolina Court System Website: “A will is a written document in which you direct who [...]
August 18, 2009
So You Think Your Estate is a “Small” Estate?
You may not think you have a “small” estate after knowing the following. Assets that are included in determining the value of your Estate may surprise you. Your gross estate for Federal estate tax purposes is a broad concept. It is not limited to probate property or by state tax exemptions. It includes all your [...]
January 7, 2009
Why Residenty in North Carolina Should be Required to have a North Carolina Last Will and Testament
I have had several inquiries regarding this topic over the last few weeks, so I thought it important to pass on my words of wisdon! There is not a North Carolina statute which requires a testator (person making the Last Will and Testament) to be a resident of North Carolina to have a valid North Carolina Last Will and Testament. Under [...]