Guilford County, North Carolina has a legal process known as "probate." This is when a court determines whether or not a will is lawful, and, accordingly, whether or not to effectuate its provisions.
In the probate process, a Guilford County, North Carolina probate court has various duties, including ruling on a will's validity, making an inventory of the estate's assets, and making note of all the decedent's debts. Once the will is decided to be valid, the court will distribute the property according to its clauses.
Typically, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Guilford County, North Carolina will assign an administrator to serve the role as the executor. This is typically the closest adult relative of the decedent, or the person who stands to inherit the most.
The general duty of the executor is to serve as the living incarnation of the estate. Their job is to commence probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will typically be the person who stands to inherit the most from the will, as he or she has an incentive to make every effort to avoid delay.
Duties of the Executor in Guilford County, North Carolina
Executors of estates have a various distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be finalized before the property in an estate can be released according to the terms of the will.
They additionally are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.
If the decedent was even reasonably well-off financially, it's likely that they'll have substantial amounts of both debts and assets. The executor is tasked with drafting an accurate accounting of the debts and assets of the estate, so as much of the decedent's debts can be paid off as possible.
As the representative of the estate, the executor has to take charge of the probate process, filing the proper court papers, and, if necessary, hiring an attorney for guidance. If the estate is large, and the executor stands to inherit a great deal of money once this process is done, they'll probably find it to be worth the time and expense.
How Can A Guilford County, North Carolina Lawyer Help?
Because of the difficulties involved in probate, it would be a reliable idea to consult with and retain a Guilford County, North Carolina attorney who specializes in probate, especially if you are the executor of an estate.