When a person dies, a process identified as "estate administration" must be carried out. This refers to all the processes which must be followed in distributing a person's estate to their heirs or devisees.
If the person who died made and executed a valid will in Kannapolis, North Carolina, the process of estate administration typically follows the procedures and instructions laid out in the will.
Frequently, the will appoints an executor whose job it is to oversee the administration of the will.
The executor usually has at least some work cut out for them. This apparently raises the issue of compensation. The easiest way to guarantee that the executor does his or her job is simply to appoint the person who has the most to gain from the will. That way, they cannot inherit until the process is finalized.
What if The Will Does Not Name an Executor?
If a Kannapolis, North Carolina will does not name an executor, or no will exists or can be found, it's up to the local court to determine who should be the executor.
This is normally the person who will benefit the most if the will is executed. If there is no will (a situation identified as "intestacy"), North Carolina has a system of laws distributing the decedent's property to his or her closest living relative. In such a case, the closest living relative has the most to gain from an orderly administration of the estate, so they will normally be appointed.
If the will doesn't name anyone as executor, or the individual who was named as executor is no longer living or cannot be found, anyone who has a direct interest in the will in Kannapolis, North Carolina can apply to the court to be the executor.
Whoever is assigned to serve as executor, it is their job to act as the representative of the estate. Among other jobs, they have to account for the decedent's debts and assets, and inform any beneficiaries who might be unaware of the situation.
Can a Kannapolis, North Carolina Estate Administration Attorney Help?
Some people are surprised when they find out they've been named the executor of a relative's estate. The responsibilities can seem daunting, but with the help of a reliable Kannapolis, North Carolina attorney, the process almost always goes pretty smoothly.