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 Oak Island, 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 is typically whoever stands to acquire the most money or property if the will is given effect, since that is the person who likely has the most incentive to do their part in seeing that the probate process plays out to completion.
What if The Will Does Not Name an Executor?
If a will in Oak Island, North Carolina is silent as to who should be the executor, it is up to the court to determine who should serve in that capacity.
Typically, this will be the person who has the most to acquire from the will, or who would gain the most under North Carolina's intestacy scheme (the system that distributes the decedent's property to his or her closest living relatives, if he or she dies without a will).
When a will is silent as to who should be the executor, any individual who has some direct interest in the result can ask to be named executor by the Oak Island, North Carolina court.
Once an executor is assigned (whether by being named in the will, or on the application of another person), they "step into the shoes" of the estate, and are expected to safeguard its interests to the fullest extent possible. They further are obligated to accurately inventory the estate's debts and assets, as well as notify possible beneficiaries.
Can a Oak Island, North Carolina Estate Administration Attorney Help?
If you are the executor of an estate, and don't know how to handle some of the legal and financial difficulties that may arise, an efficient Oak Island, North Carolina lawyer can make this process a great deal easier.