What happens to an estate after death in North Carolina?
The federal estate tax, which applies to estates worth more than $11.4 million, is to be paid within nine months of death, but a six-month extension is available. North Carolina has no separate state estate tax, inheritance tax nor gift tax. Close the estate. Close the estate bank account after all debts are paid and assets are distributed.
What does it mean to be an executor of an estate?
You are most likely a family member, a close friend or attorney of the individual who has asked you to ensure their final wishes are carried out. While being named the executor, or personal representative, of someone’s estate is somewhat of an honor, it also entails a number of responsibilities and makes demands on your time.
What is the North Carolina probate Survival Guide?
The North Carolina Probate Survival Guide (the “Guide”) is designed to provide you, the Executor, with general information related to settling an estate in North Carolina. The probate process is defined by North Carolina law. The law is the same throughout the State. However, not all counties administer the law in the same way.
Where can I get help with estate administration in North Carolina?
The experienced estate administration lawyers at Brady Cobin Law Group in Raleigh, N.C., can help with guidance and assistance if you are in charge of the disposition of an estate in North Carolina. Please don’t hesitate to contact us for a consultation.
What happens if the executor of an estate fails during probate?
The executor of an estate can face liability for errors during probate, as well. The experienced estate administration lawyers at Brady Cobin Law Group in Raleigh, N.C., can help with guidance and assistance if you are in charge of the disposition of an estate in North Carolina.