Reidsville, North Carolina has a legal process known as "probate." This is when a court decides whether or not a will is binding, and, accordingly, whether or not to effectuate its provisions.
In the probate process, a Reidsville, North Carolina probate court has several 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 determined to be valid, the court will distribute the property according to its terms.
Usually, the executor of the estate is named in the will. However, if nobody is named as an executor, the probate court in Reidsville, North Carolina will appoint an administrator to serve the role as the executor. This is usually the closest adult relative of the decedent, or the person who stands to inherit the most.
Because the executor is responsible for actually initiating probate proceedings and seeing them to completion, 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 Reidsville, North Carolina
The executor has several duties concerning the will. First of all, they have to actually initiate the probate proceedings with the court, and this procedure has to be finished before the will takes effect.
The executor also has to give those with a direct interest in the will notice that the decedent has died, by filing an official death certificate.
Executors are also required to make available an accounting of the testator's debts and assets, so their affairs can be wound up, along with a list of everyone who is named in the will, or otherwise stands to inherit.
As the representative of the estate, the executor has to take charge of the probate process, filing the necessary court papers, and, if necessary, hiring an attorney for help. If the estate is large, and the executor stands to inherit a great deal of money once this process is complete, they'll probably find it to be worth the time and expense.
How Can A Reidsville, North Carolina Lawyer Help?
Because of the complexities inherent in the probate process, it is a good idea to hire an experienced Reidsville, North Carolina probate lawyer, particularly for the executors of estates.