Due to an increase in real property sales involving estates, it has become increasingly important for sellers to understand the requirements and processes involved.
Because of the importance of the role, there are certain qualities or characteristics to think about when choosing an executor of your estate.
Topic 4 in “How Estates Affect Real Estate Closings” deals with the Notice to Creditors. This notice must be published at least once before the closing of real property.
Topic 3: “How Estates Affect Real Estate Closings” with determining heirs or beneficiaries of the decedent. It is necessary to identify heirs and whether they are married.
The next step is confirming if an estate file has been opened and, if so, that filings have been submitted in the appropriate county. For any transfer or sale of real property to be valid against claims of creditors, the decedent owner’s will must be probated or filed in the county where the property is located.
Whether a deceased individual had a Last Will and Testament determines how the deceased’s estate will transfer according to North Carolina statute.
Too frequently I hear about a tragedy involving a young person that is compounded by a lack of planning. As people move through their twenties and thirties and begin to accumulate assets, wealth, and have families there are a number of new “adulting” items that must be handled.
Power of Attorney is a term many people use to describe what are actually different documents and, more importantly, different powers. The main documents people refer to are a Health Care Power of Attorney and a Durable Power of Attorney – for health care and financial decisions.
In North Carolina, Real Property moves “outside of probate” meaning it is not part of the probate estate unless it must be brought into the probate estate in order to satisfy debts of the estate.
Many people view probate as a long laborious and unnecessary process. Because of the reputation of the probate process individuals employ different techniques to create an...