Estate Administration is the term used to describe the handling of a person’s assets after they die or are declared incompetent. The typical estate administration for a deceased individual begins with the opening of a probate estate for a decedent by a Personal Representative (who may also be referred to as an Executor, Administrator. or Administrator CTA). The Personal Representative then locates the decedent’s debts, locates the decedent’s assets, pays the debts from the assets, distributes any remaining property to the decedent’s heirs or beneficiaries, and reports to the Court regarding what has been done.
In North Carolina a typical estate administration takes six months to a year to complete. There are many factors which determine how long an estate has to be open. A few of these factors include: the value of the decedent’s estate, whether any type of wrongful death litigation is involved, whether real estate has to be sold as part of the decedent’s estate, whether heirs or beneficiaries cooperate and work with or against each other, and whether a caveat proceeding is brought challenging the validity of a will that has been admitted to probate. Morphis Law & Mediation regularly assists clients with handling the administration of a decedent’s estate. Our services range from providing a simple consultation about the probate process after a person has died to handling all of the details involved with the probate process for the Personal Representative.
When a person who has assets is declared incompetent by the Court, a guardian of the estate is typically appointed to manage the incompetent individual’s assets. Morphis Law & Mediation is regularly appointed by the Court to perform this function in matters where the incompetent individual does not have anyone close to them who is suitable to manage the individual’s assets. Morphis Law & Mediation also regularly assists individuals who have been appointed as a guardian of the estate with the preparation of the accounting paperwork required by the Court and with the various proceedings which may be required in a guardianship (such as petitioning the Court for permission to sell an incompetent individual’s property in order to make funds to pay for the individual’s care).
If you would like assistance with either the probate process for a decedent’s estate or the handling of a guardianship estate then call Morphis Law & Mediation today at (828) 328-5297.