Welcome back. Our probate lawyer in Cary NC is here to talk more about probate and the overall process that takes place. If you missed our previous blog, be sure to take a look at it before moving on.
Probate | Probate Lawyer Cary NC
Last blog, we talked about the first step of probate. This step is initiated by publishing a notice in a public newspaper. This will help alert creditors. The ad should run once a week for four weeks.
The second step in this process involves collecting assets of the deceased. As this is done, assets should then be appraised. Once they’re appraised, debts that are needed to be paid can be done with assets. Should they need to be sold to cover taxes or debt, this can be handled. These assets can also be sold to pay for other expenses, including funeral costs and burial. However, the first order of debt payoffs should include liens. Then, funeral costs, taxes and other expenses can be taken care of.
As debts are paid, the remainder of assets can be distributed according to the will in place. Once this is completed, closing the estate is next.
Closing the estate is the last step in the overall probate process. Once this has started, the closing should be filed with the court. Then, all transactions should be documented and presented to the court. This includes canceled checks, bank statements and more. It’s important to make sure proper probate was completed.
If you’re interested in learning more about probate or have questions, contact our probate lawyer in Cary NC. Also, check back with other blogs in this series.
Probate Lawyer Cary NC | Eldreth Law Firm, PLLC
Were you appointed an executor of an estate and have questions about the probate process in North Carolina? Call Eldreth Law Firm to get the answers you need. Let us help you properly administer an estate. Our probate lawyer in Cary NC is a phone call away.
For those that need other types of legal assistance, we can also help with other legal matters such copyrighting, trademarking and DWI issues. Call now to learn more.
Visit with other blogs in this series to learn more:
- The Probate Process, Part One
- The Probate Process, Part Two
- The Probate Process, Part Three
- The Probate Process, Part Four