Estate Administration
Estate Administration
At Weaver, Bennett & Bland, P.A. in Matthews, NC, we provide estate administration services to help families manage the distribution of a decedent's estate. Our experienced and knowledgeable team provides quality professional services and guidance to ensure everything is handled efficiently and correctly. Contact us for a consultation appointment.
Do I Have to Do an Estate Administration?
Reasons why you will need to do an estate administration.
When a bank or financial institution tells you that you cannot gain access to a departed individual’s assets without an estate administration. (i.e. letters testamentary or letters of administration)
Assets are titled in the decedent’s name without a means to change the title out of his or her name.
You are concerned about a deceased individual’s creditors, and you need or want an effective way to deal with or bar those creditors.
The deceased owned real property/land and you want to clear the title to that land to be able to sell it.
The departed owned a business and an estate administration is needed to be able to manage or handle that business.
At the time of the decedent's death, the decedent was involved in a lawsuit.
You want to ensure that the decedent's assets pass to the people that the decedent directed in his or her will or to obtain clarity as to where and to whom the assets will go.
What is Estate Administration?
Estate Administration is the process by which a deceased person’s assets not disposed of otherwise are gathered by a court-appointed personal representative, the decedent’s creditors are handled, the debts, taxes, costs, and expenses of the departed or of his or her estate are paid, and the remaining assets are distributed as provided in the will.
What can a court appointed personal representative do?
Estate administration enables the personal representative to gather personal property not disposed of otherwise (e.g., household furnishing, furniture, collectibles, vehicles, bank accounts, stocks, bonds, interests in companies, etc.) and ensure its proper distribution.
What about real property and land?
Real property or land is governed by the state laws of its location and a personal representative, without starting additional court proceedings, may not have control over that real property. As such, real property located outside of the domicile of the departed may require additional estate administration in the state where the real property is located.
What does probate mean?
Probate is the common term for an estate administration, but in North Carolina, it simply means that the court has accepted the last will and possibly codicil of someone who has passed, if any, as being valid.
Why do I have to do Estate Administration in multiple states?
The most common reason to do estate administrations in multiple states is when the decedent owned real property in another state or states other than the state of the domicile of the departed and such real property is not disposed of otherwise (i.e., with rights of survivorship).
Why should I hire a lawyer to help?
An estate administration is a legal proceeding that can encompass almost every area of law (e.g., real property law, family law, tax law, creditor law, bankruptcy law, contract law, personal property law, business law, etc.) and the clerk of court, while helpful, cannot give legal advice or legal help.
Due to the legal nature of estate administration, it is easy for a personal representative, who is a fiduciary, to unwittingly or unknowingly expose himself or herself to legal liability and thus financial liability; an attorney guides a personal representative through this legal minefield and ensures that no mistakes are made. In 20 years of practicing estate administration, I have handled over 650 estates, and I know the process, know the court system, know the clerks, and know how to efficiently handle and complete the estate administration process.
Are you in need of an estate administration attorney who will carefully protect for your rights? Look no further than Weaver, Bennett and Bland, P.A. of the Matthews, North Carolina area. Our attorneys have a reputation for dependable and professional service. We are dedicated to ensuring a favorable outcome for each of our clients. Schedule a consultation today and let us help you with your legal estate administration needs.