Farmville, North Carolina has a legal process known as "probate." This is when a court determines whether or not a will is valid, and, accordingly, whether or not to effectuate its provisions.
During probate, the court in Farmville, North Carolina will decide the validity of the will, establish and inventory the decedent's assets, account for the decedent's debts and back taxes, and distribute the decedent's property, among other things.
Wills commonly name a person as the executor of the estate. If not, the court in Farmville, North Carolina will name one. This is most often the adult individual who stands to inherit the most funds or property from the will.
Because the executor is responsible for really initiating probate proceedings and seeing them to finalization, the person chosen for this role is often the one who stands to inherit the most from the will - giving them an incentive to put in the necessary time and effort.
Duties of the Executor in Farmville, North Carolina
The executor has many duties regarding the will. First, they have to really initiate the probate proceedings, which must be finalized before the will is effectuated.
Furthermore, it's the executor's job to notify all affected parties that the person who made the will has died. "Interested parties" are typically people who are named in the will, or who would inherit the estate if the decedent had died without a will.
Because people who stand to inherit from the testator may be scattered around the country, or even the world, contacting them is sometimes challenging. One of the responsibilities of the executor is to gather a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They further have to account for all the testator's debts and assets.
Additionally, the executor is obligated to take a leading role in showing the validity of the will. The executor obviously has an incentive to see the process through, since they cannot inherit until probate is complete.
How Can A Farmville, North Carolina Lawyer Help?
Because of the intricacies involved in probate, it would be smart to hire a seasoned Farmville, North Carolina probate lawyer, especially if you are the executor of an estate and unsure how to proceed.