Probate is actually the offering up a will to the court as the true original and last will and testament of a decedent. The term "probate" is often confused with "estate administration." To understand estate administration, one must first be aware of the concept of a decedent's estate. "Estate" is a term commonly used to denote the sum total of all types of property owned by a person at a particular time, usually upon his death. But, it may be better to think of an estate is a legal entity ("thing") that springs into being upon the death of an individual person. It makes sense, since generally a deceased person cannot by law own property, be indebted, give property away. And so the person's "estate" assumes these roles and responsibilities, and someone must manage (or administer) the estate. Administration comes in two flavors - with a will (testate) and without a will (intestate). Where a person administers a testate estate, that person is known as the executor or personal representative. The term probate actually involves an initial step in the administration - presenting the will to the clerk's office and qualifying as the executor. In testate and intestate situations, the general responsibilities are the same: * Gather the assets of the estate * Account to the estates division for the assets * Distribute the assets according to the will. If the decedent had no will, then the property is distributed according to the North Carolina Intestate Succession Act, which may or may not represent the intent of the decedent. * File the appropriate accounting the estates division and the appropriate tax returns, both individual and fiduciary (for post-death income). Types of assets to be gathered include bank accounts, vehicles, real estate, life insurance, pensions, stocks and bonds, income tax refunds, personal effects, business interests, boats. Thomas Neagle is a North Carolina attorney with his practice focused on estate administration and planning. He can be reached at 919 932 7445.
You can find the North Carolina Probate Code at sections 28A through 31C at the link provided below.
North Carolina does have an estate tax. They do not have an inheritance tax. It would be a good idea to consult a probate attorney in North Carolina. They will know how to reduce the tax liabilities of the estate.
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North Carolina is north of South Carolina
North Carolina.
Yes, there is a statue of limitations on probate in the state of South Carolina. As of 2014 this limitation is ten years.
It is an analogy. North Carolina is to South Carolina as North Dakota is to South Dakota.
The original name of North Carolina is North Carolina
North Carolina is north of South Carolina
North carolina is the northern part of one of the first colonies "carolina" which was later seperated into north and south
Greensboro is a city in North Carolina. Greenville is a city in North Carolina.
Charlotte North Carolina Is About 1 Hour Away From Albemarle North Carolina