Probate Attorney in Leland, NC

Probate is one of the most confusing terms for people who are not attorneys, accountants, or financial planners. But you'll likely come across it when dealing with anything related to an estate.

This article answers the most critical questions: What is probate? What is the probate process in Leland, NC? How long does it take? And others - for your complimentary estate planning consultation in NC or SC, please get in touch.

What is Probate?

Probate refers broadly to estate administration. This process often involves the court determining that a provided will is indeed the last will of a person who has died (decedent), and that will is valid for asset transfer.

Assets Affected by Probate

Stocks, bonds, cars, bank accounts, other investment accounts, and jewelry are typical assets subjected to the probate process. Land and houses are usually not, except when the will provides for them, or their sale is necessary to pay off debts. Other joint tenancy assets subject to the right of survivorship (the last surviving owner owns it wholly), like life insurance and joint bank accounts, may also be exempt from the process.

The Probate Process in Leland, NC

The process differs depending on the presence or absence of a will.

Where there is a will, the executor should:

1. Locate a copy of the original will and ensure it is the latest version.

2. Submit the will and other requirements to the clerk who will be the Brunswick County Superior Court Clerk in this case. You'll be able to reach the clerk at (910) 253-3900 to find out exactly what requirements you'll need. Still, generally, the other requirements will be a certified death certificate, a preliminary estate inventory, and a $120 filing fee. According to N.C., this submission should be made within 60 days of the death. Gen. Stat. §28A-2A-2. When the executor fails to submit, a beneficiary or any other party with an interest in the estate may submit ten days after notifying the executor.

Once this process is completed and the Clerk has deemed the will valid, the Clerk will provide the executor with letters testamentary.

1. Gather the assets, pay debts, and distribute the remainder according to the terms of the trust. To access all the assets, institutions like banks will require copies of the Letters provided by the clerk.

2. Close the estate by filing with the court.

What Happens if There is No Will?

The Brunswick County probate court will appoint an administrator, who will obtain letters of administration from the clerk and use them to gather all the assets. Once the assets are secured, debts and taxes will be paid, and the rest will be distributed according to NC's intestacy laws in N.C. Gen. Stat. §§ 29-14; 29-15; and 29-16.

Small Estates

An estate will be deemed small if its personal property is worth less than $20,000 (or $30,000 if the sole beneficiary is a spouse). The administration of small estates is provided for under N.C. Gen. Stat. §28A-25.

Where a spouse is the sole beneficiary, the spouse can file for summary administration with the court. With this, they would have to fill out some forms and provide some documents.

Where there is more than one beneficiary to the estate (through testate or intestate succession), an affidavit for the collection of the decedent's personal property may be obtained from the clerk upon the payment of a specified fee. Once certified, the affidavit will allow the person who bears it to receive the decedent's personal property.

How Long Does Probate Take in Leland, NC?

Probate is a relatively complex process, and many things could slow it down. But generally, everything between the decedent's passing and closing the estate should take six to twelve months.

The process could take longer if the decedent died intestate, had many assets with many heirs, or an interested party challenged the will's validity.

For simple estates, the process takes between 60 and 90 days.

Why is a Probate Attorney Important in Leland, NC?

We Help Your Family Avoid Probate

Probate can be stressful, expensive, and time-consuming. An attorney can help your family avoid that process when planning your estate. Depending on your situation, the attorney will advise on the best options, but you could use things like living trusts and payable-on-death designations.

We Guide You Through the Probate Process

If you are involved in a probate process as an executor, heir, or third-interested party, having an attorney will ensure your interests are protected throughout the process. Furthermore, an executor who does not live in NC may be required to appoint representatives within the state, and a local attorney will be the best possible representative.

Contact Bespoke Estate Law Today

If you need a probate attorney in Leland, NC, call Bespoke Estate Law. We can help you develop an estate management plan that will help your family avoid this process or protect your interests in an estate going through probate. We offer will writing services in Wilmington, estate planning services in Myrtle Beach, and other estate planning and business services throughout NC and SC.