Estate plans are not simple matters, and the people who oversee them - executors - do not have an easy task at hand. What exactly do these executors have to manage? What do they hold responsibility for when it comes to keeping an estate plan processed as necessary?...
trust & probate administration
Can you face lawsuits for mismanaging an estate?
When someone in North Carolina appoints you the executor over his or her estate, you may find that there are many moving parts involved in the role. You have certain responsibilities when you serve as someone’s executor, and you also have to take certain steps to...
What is estate administration and when is it necessary?
The process of settling the estate of a deceased loved one can be quite involved, and for family members who are not prepared for probate, it can be overwhelming. The process, however, will run smoothly even amidst the grief and reflection of this difficult time if...
Understanding North Carolina’s process to contest a will
When a person passes away and has a will, often his or her property is distributed to the beneficiaries and the estate is closed. However, in some circumstances a party may contest the will. In North Carolina, the formal name for this challenge is a caveat proceeding....
How do you prioritize your estate plan review?
After creating an estate plan, experts generally agree that you should review it at least every 3 years even if nothing is currently changing in your life. This allows you to refresh your memory on what you wrote before and ensure everything still reflects your...
How is North Carolina estate administration handled?
If you choose to handle the North Carolina estate of a deceased loved one, there are many responsibilities you might face, including estate administration. When an individual dies without a will, the process is usually more complicated than when the deceased made...
What does an executor do?
Being named a personal representative, also known as an executor, in a loved one's will is a huge responsibility. The executor of a will has many duties, from paying beneficiaries to settling the remaining debt. While the actual list of duties can vary depending on...
What is fiduciary duty?
When you take on the duties of administrator of someone’s estate or trustee of someone’s trust, you become a fiduciary. FindLaw explains that as such, you must work for the best interests of the heirs or beneficiaries in all that you do. If you fail to do so, the...
Strategies for selecting a legal guardian
For many parents in North Carolina, the task of choosing another person, couple or family to assume guardianship of their children can be a serious matter. Parents can only hope that the people they have chosen to take over raising their children are honorable,...
Tom Petty’s heirs in conflict over estate plan
North Carolina fans of the late musician Tom Petty may be aware that his family has been locked in a battle over his estate. At issue is the ambiguity of the language used in his estate planning documents. Petty created a trust and made his wife the trustee. However,...
