When a person dies, a process known 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 Spring Lake, North Carolina, the process of estate administration usually follows the procedures and instructions laid out in the will.
Often, the will appoints an executor whose job it is to oversee the administration of the will.
The person named as executor of an estate usually has some work ahead of them. To ensure that they actually follow through on their commitments, most people name as executor the person who will get the most money, or other benefit, if the will is given effect as written. Because an estate can't be distributed until the administration process is complete, the executor has an incentive to see it through.
What if The Will Does Not Name an Executor?
If a Spring Lake, North Carolina will does not assign anyone to serve as executor, or there is no will, the court has to choose someone to fill that role.
Usually, this will be the person who has the most to gain 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).
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 Spring Lake, 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 Spring Lake, 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 complexities that may arise, an experienced Spring Lake, North Carolina lawyer can make this process a great deal easier.