Estate planning can be a daunting process, especially for parents who want to ensure that their children are taken care of after they pass away. While a will is a common estate planning tool, it may not offer the best protection for your assets nor your family's future. That's where a living trust comes in. In this article we will discuss the benefits of a living trust and why this just may be a better option than a will. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. What Is a Living Trust? A living trust is a powerful legal document that allows you to transfer ownership of your assets to a trust during your lifetime. As the trustee, you have complete control over what the trust contains, and after you pass away, the assets are distributed to your beneficiaries according to your wishes. A living trust offers several advantages over a will, making it a better option for parents who want to leave their personal belongings to their children. Let's take a closer look at everything a living trust has to offer. Benefits of a Living Trust Avoiding Probate One of the most significant advantages of a living trust is that it avoids probate. Probate is a court-supervised process that can be time-consuming and expensive, tying up your assets in the court system for months or even years. With a living trust, your assets are distributed directly to your beneficiaries without going through probate, providing a faster and more efficient distribution process. Protecting Your Privacy Another advantage of a living trust is that it protects your privacy. When a will goes through probate, it becomes public record, allowing anyone to access and review the details of your financial affairs. With a living trust, your finances remain private, ensuring that your family's business stays confidential. Providing Continuity A living trust can also provide continuity for your family if you become incapacitated. If you're unable to manage your assets due to illness or injury, your successor trustee can step in and manage the trust for you, ensuring that your assets are dealt with according to your desires, even if you're unable to do so yourself. Greater Control Over Distribution As a parent, you want to make sure that your children have the resources they need even after you are gone. A living trust allows you to specify exactly how you want your assets distributed, providing you with more control over the process. For example, you can set up separate trusts for each child, specifying what assets each child will receive and at what age, helping to avoid disputes or misunderstandings between your children. Naming a Trustee to Manage Assets Another advantage of a living trust is that it allows you to name a trustee to oversee your assets until your children reach a certain age. This can be especially important if you have minor children who are not yet capable of dealing with their own finances. With a living trust, you can ensure that your children's needs are taken care of until they are old enough to handle their money responsibly. Resources Are Available While the estate planning process can be intimidating, it's important to consult with an experienced estate planning attorney who can guide you and help you make the best decisions for your particular situation. By leveraging a living trust, you can rest easy knowing that your assets will be distributed how you want, and your family's future will be secure. Having Proper Legal Representation Estate planning is not a one-size-fits-all solution, and everyone's needs are unique. That's why having a knowledgeable attorney in your corner is crucial. They will help you work through the legal implications of your decisions and ensure that your intentions are accurately reflected in your estate planning documents. Updating Your Living Trust It's also important to keep your living trust up to date. Life circumstances can change, such as the birth of a child, divorce, or the purchase of a new asset. These changes may require updates, and it's important to work with an attorney to ensure that your living trust remains current. A quick look at a will A will is a legal document that allows you to designate how your assets will be distributed upon your death. It's important to create and update a will regularly, as it gives you control over where your money and possessions go after you're gone. Unlike a trust, a will has to go through probate. During the probate process heirs and beneficiaries are usually the last to receive assets that you have placed in the will for them. Creditors and taxes will be paid first, and any assets or funds remaining will be passed on to beneficiaries and then heirs. If for some reason there is no money or assets remaining after paying creditors and taxes then your beneficiaries and heirs will not receive anything. This is why in most cases having a trust is always better than having a will. Plan for the Future Today Planning for the future can be a difficult and emotional process, but it's important to start today. A living trust provides greater protection for your assets and your family's future, giving peace of mind to you and your loved ones. With a clear plan in place, your family will know exactly what your wishes are, and will be able to avoid misunderstandings or disagreements that may otherwise tear them apart. Don't wait until it's too late. Consult with an experienced attorney now and start planning for the road ahead. North Carolina Probate Solutions We partner with probate and estate planning attorneys throughout North Carolina. If you would like us to put you in touch with an attorney to help you put in place a trust that will secure your assets for your beneficiaries contact us today. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.

If you have ever lost a loved one and were a beneficiary of their estate, you know that the probate process can be time-consuming, complicated and expensive. But what if there was a way to get your inheritance while bypassing probate court entirely? Sometimes, a person dies without significant assets. Small estate laws allow smaller estates to skip the probate process and puts the inheritances in the hands of the beneficiaries faster. This helps keep the court docket clear and helps families reach closure faster. While not everyone is eligible to take advantage of these laws, those who do will have a much easier time. Follow along as we take a deep dive into the main tool of small estate laws - a small estate affidavit. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. What is a small estate? A small estate in North Carolina is any estate valued at less than $20,000 if single or $30,000 if the only beneficiary is a surviving spouse. For a general idea of the size of an estate, you can calculate the value of any accounts, personal property and assets and subtract the amount of liens against that property. Note that certain assets like real property or life insurance policies don’t have to be included if they have a named beneficiary. A word of caution: if you plan on selling any real property within two years of the passing of the decedent then you should consult with an attorney before using a small estate affidavit. The funds from the sale of the real property can be considered towards the total estate amount and make some parties ineligible for the exception. Who can file a small estate affidavit in North Carolina? A small estate affidavit is a document that is filed by an individual (affiant) to petition for a portion of a deceased person’s estate. There is a 30-day waiting period before you can file a small estate affidavit in North Carolina. Who is eligible to file a small estate affidavit in North Carolina? As mentioned above, not all individuals are eligible to use a small estate affidavit in North Carolina. You can only use the affidavit if you have a legal claim to the estate of the deceased. You are able to file a small estate affidavit if you live out of state - you’ll simply have to complete paperwork (Form e500) to name a Resident Process Agent. That person is someone who is a North Carolina resident and accepts mail and other service of process information regarding estate matters. How to Settle a Small Estate Affidavit in North Carolina There are two main ways to settle a small estate in North Carolina: summary administration and collection by small estate affidavit. If the spouse inherits everything, a summary administration is appropriate. If, however, there is more than one beneficiary of the estate, you can then use the small estate affidavit to bypass the probate courts. It’s important to remember that, although skipping probate will make the inheritance process much easier, it is still a detailed and complex process that is best handled by an experienced North Carolina estate and/or probate attorney and if real estate is involved find a certified probate real estate agent. The Small Estate Affidavit Process The first step in the process is to present a death certificate and general inventory of money, assets and personal property to the Clerk of the county in which the deceased resided. Once the necessary information has been provided, you will be named as “executor” for the estate. This means that you will be responsible for paying any debts the estate has that are outstanding. After the payment of debts, you will be responsible for distributing any remaining funds, personal property and assets. This dispensation can be done either by terms of the will if there is one or in accordance with North Carolina intestacy law if a will doesn’t exist. How can an Estate or Probate Attorney Help Me With a Small Estate? The best way to execute a small estate affidavit is with the help of an experienced estate and probate attorney. They can use their years of experience and legal knowledge to carefully consider every aspect of the small estate to ensure that eligibility requirements are met and that the court has received all the proper documentation. The attorney can advise you on your options and let you know whether a small estate affidavit is right for you. Conclusion At North Carolina Probate Solutions, we understand that losing a loved one is a painful experience. We know that the last thing you need is to worry about is the dispensation of the estate. That’s why we work hard for all of our clients to help them navigate this trying time. If you are a resident of North Carolina who thinks they have claim to a small estate, contact us today to hear about your options. You can contact us here or by phone at 252-902-9006. Don’t get tied up in probate - Unravel the probate process with the professionals at North Carolina Probate Solutions. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.

The probate process can be complex and confusing for those unfamiliar with the laws governing estates. Deciding between a living trust and a will is an important decision that requires careful consideration. This article will provide an overview of the differences between these two options, as well as the implications they have on the probate process. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Living Trust vs. Will A living trust is a legal document that places assets into trust ownership, allowing them to bypass probate court. A will, on the other hand, requires court approval before assets can be distributed to beneficiaries. This can lead to delays and added expenses in court fees and legal fees associated with the probate process. The choice between a living trust or a will should be made based on various considerations, including asset size and accounts held. In addition, should you choose to establish a living trust, you’ll need to factor in asset management fees and other costs associated with maintaining it. We’ll break down all of these considerations for you in this article so you can make an informed decision about which option is best for your situation. What Is the Probate Process? When it comes to estate planning, the probate process is an important factor to consider. Probate is a legal process that distributes the assets of a deceased person to their heirs as outlined in their will or living trust. It's a way for the court to ensure the deceased person's wishes are met and that their heirs are properly taken care of. Simply put, the probate process is the method used to transfer ownership of a deceased person's property, such as houses, vehicles, and other belongings to their named beneficiaries or heirs. During probate, a court-appointed executor files paperwork with the court so that title, rights, and obligations are transferred accordingly. This is done through either a will or a living trust. The primary difference between these two documents is that with a will, all of the deceased person’s assets go through probate before they go to their heirs, while with a living trust, they do not need to go through probate which can save time and money when transferring ownership of assets. Living Trust Provides Benefits Over Wills. One of the biggest advantages of creating a living trust is that it avoids probate. The court-supervised process of validating a will is called probate, and it can be expensive and time-consuming. Without a living trust, your heirs could end up dealing with the probate court for months or even years after your death. On the other hand, assets held in a living trust can be transferred without going through probate. This saves your heirs the time, expense, and hassle of working through the process. Property held in a living trust also passes directly to beneficiaries without any delays or hassles associated with probate. Additionally, if you have minor children, you can designate in the living trust who will care for them in case something happens to you and your spouse. You may also include instructions regarding when and under what circumstances they will receive their inheritance from the trust. This helps ensure that your children are taken care of after you are gone. What Happens to a Will When There Is No Probate? When you pass away, your will needs to be legally entered into the probate court system. This is known as probating a will. During the probate process, the court reviews and verifies the validity of a will and apportions assets and liabilities according to its instructions. But what happens if the will is never entered into probate? In that case, the will is invalid, so all of your assets and liabilities must be divided in accordance with the laws of intestacy. These laws vary from state to state but generally involve distributing property among surviving relatives, beginning with the closest family members. On the other hand, a living trust eliminates the need for a probate process. The trust is set up during your lifetime, with you being both trustor (the person who sets up the trust) and the trustee (the person who manages it). The trust document stipulates how your assets are to be distributed after you pass away, which is done without court intervention by appointed trustees. What Rights Do the Beneficiaries of the Trust Have? One of the most important things to understand when considering a living trust is what rights the beneficiaries will have. The answer depends on the type and structure of the trust, but generally, beneficiaries can expect: Access to all information about the trust and its assets Right to receive and trade trust assets as stated in the documents Right to contest any provisions of the trust which they do not feel are fair or just Right to receive regular payments from income generated by trust assets, as determined by the terms of the trust agreement Right to be informed of any changes in trusteeship or other relevant changes occurring in relation to the trust Right to seek additional information with regards to their rights under a living trust Dependent upon state law, right to enforce full or portion payment of their entitlement under the living trust, if needed It is important for anyone considering a living trust to be aware of these rights so they can make an informed decision about how best to protect their assets and provide for their family's future. What Are Trustee's Duties in Administering a Living Trust? When you create a living trust, you are responsible for appointing a trustee to manage and administer the trust assets. This person is responsible for ensuring that your assets are distributed according to your wishes and that the process is handled efficiently and effectively. The duties of a trustee in administering a living trust include: Investing assets in accordance with state law and the terms of the trust Distributing assets to beneficiaries according to the terms of the trust Maintaining records, such as tax returns, asset evaluations, and other paperwork related to trust management Monitoring trusteeship fees charged by service providers Obtaining legal advice regarding distribution of trusts or settling disputes between beneficiaries Filing tax returns when applicable Ensuring benefits eligibility for beneficiaries who are receiving government benefits like Social Security or Medicaid Assigning specific duties to an appropriate fiduciary if necessary These duties all serve to ensure that your wishes in establishing the trust remain fulfilled after your death and that the probate process goes smoothly for your loved ones. How to Help Your Heirs Avoid the Probate Process Deciding between a living trust and a will can be overwhelming, but the reward of streamlining your heirs' probate process makes it worth the effort. There are several ways to help your heirs avoid the probate process in both options: Living Trusts A living trust will bypass probate court, providing an easier and faster way for your beneficiaries to receive their inheritance. A living trust also offers flexibility, making it an attractive choice for families who want to designate special instructions for how their estate should be handled upon death. Wills While a will does not necessarily prevent your heirs from going through the probate process, there are certain steps you can take to make it less complicated. For instance, having “transfer on death” forms attached to your bank accounts or other financial assets will help ensure that those assets are transferred quickly and seamlessly after you pass away. Additionally, designating beneficiaries with life insurance or retirement plans may expedite the distribution process. Depending on your financial situation and wishes, you may find one option more suitable than another - consulting with a knowledgeable attorney is key when making this important decision. Summary All in all, the probate process can be a difficult one for those who are unfamiliar with it. Understanding the differences between a living trust and a will can help ensure that the process goes more smoothly. A living trust offers more flexibility and control, while a will is a good choice for those with a smaller estate. Ultimately, the decision should be based on your individual needs and preferences. It’s a good idea to work with an probate attorney and a certified probate real estate agent, if real estate is involved, when considering which option is best for you, as they can provide valuable insights and advice, as well as guide you through the entire process. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.

North Carolina Intestate Estates – Part II In a prior article about North Carolina intestate estates, the general intestacy rules in North Carolina were described, and the importance of having a valid Will to avoid these intestacy rules was discussed. To better understand North Carolina intestate estates, this article presents 10 examples that evidence the specific application of North Carolina’s intestacy rules and explain the specific problems that can arise when North Carolina’s intestacy rules govern instead of a valid Will that expresses a decedent’s testamentary intentions. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Example 1 Tom dies without a valid Will. Tom owns $600,000 of real property (real estate) and $360,000 of personal property. Tom is survived only by his wife, Mary. Under North Carolina’s intestacy rules, all of Tom’s real property and personal property transfers to Mary. Example 2 Example 2 is the same as Example 1, except that Tom is survived by his wife, Mary, and one child, Rachel. Under North Carolina’s intestacy rules, Tom’s real property transfers $300,000 (50%) to Mary and $300,000 (50%) to Rachel, and Tom’s personal property transfers $240,000 ($60,000, plus 50%of the $360,000) to Mary and $180,000 (other 50% of $360,000) to Rachel. Example 3 Example 3 is the same as Example 1, except that Tom is survived by his wife, Mary, and two children, Rachel and Jeff. Under North Carolina’s intestacy rules, Tom’s real property transfers $200,000 (1/3) to Mary, $200,000 (1/2 of 2/3) to Rachel, and $200,000 (1/2 of 2/3) to Jeff, and Tom’s personal property transfers $180,000 ($60,000, plus 1/3) to Mary, $120,000 (1/2 of 2/3) to Rachel, and $120,000 (1/2 of 2/3) to Jeff. Example 4 Example 4 is the same as Example 1, except that Tom is survived only by his two surviving children, Rachel and Jeff, and two grandchildren, Cole and Maria, who are the only children of Tom’s deceased child, Natalie. Under North Carolina’s intestacy rules, Tom’s real property transfers $200,000 (1/3) to Rachel, $200,000 (1/3) to Jeff, $100,000 (1/2 of 1/3) to Cole, and $100,000 (1/2 of 1/3) to Maria, and Tom’s personal property transfers $120,000 (1/3) to Rachel, $120,000 (1/3) to Jeff, $60,000 (1/2 of 1/3) to Cole, and $60,000 (1/2 of 1/3) to Maria. Example 5 Example 5 is the same as Example 1, except that Tom is survived only by his parents, Jack and Dorothy. Under North Carolina’s intestacy rules, Tom’s real property and personal property transfer 50% ($300,000 of real property and $180,000 of personal property) to Jack and 50% ($300,000 of real property and $180,000 of personal property) to Dorothy. Example 6 Peter desires that all of his property transfer to his wife, Julie. Peter dies without a valid Will. Peter owns $800,000 of real property and $560,000 of personal property. Peter is survived by Julie and his daughter, Victoria. Under North Carolina’s intestacy rules, Peter’s real property transfers $400,000 (50%) to Julie and $400,000 (50%) to Victoria, and Peter’s personal property transfers $340,000 ($60,000, plus 50%) to Julie and $280,000 (50%) to Victoria. Even though Peter’s testamentary intentions are for Julie to receive all of his property, North Carolina’s intestacy rules govern and require a different result. Example 7 Alice desires that all of her property transfer 15% to her son, Larry, 15% to her daughter, Michelle, and 70% to her grandchild, Elsa; Elsa is the only child of Alice’s deceased child, Felicia. Alice dies without a valid Will. Alice owns $300,000 of real property and $600,000 of personal property. Alice is survived by Larry, Michelle, and Elsa. Under North Carolina’s intestacy rules, Alice’s real property and personal property transfer 1/3 ($100,000 of real property and $200,000 of personal property) to Larry, 1/3 ($100,000 of real property and $200,000 of personal property) to Michelle, and 1/3 ($100,000 of real property and $200,000 of personal property) to Elsa. Even though Alice’s testamentary intentions are for a “15%-15%-70%” allocation of her property among Larry, Michelle, and Elsa as beneficiaries, North Carolina’s intestacy rules govern and require a different result. Example 8 Greg desires that all of his property transfer to a charity. Greg dies without a valid Will. Greg owns $1,000,000 of real property and $900,000 of personal property. Greg is only survived by his mother, Eleanor. Under North Carolina’s intestacy rules, all of Greg’s real property and personal property transfers to Eleanor. Even though Greg’s testamentary intentions are for a charity to receive all of his property, North Carolina’s intestacy rules govern and require a different result. Example 9 Diana desires that all of her property transfer to a trust for her son, Brian, with her sister, Angie, as trustee of the trust. Diana dies without a valid Will. Diana owns $500,000 of real property and $200,000 of personal property. Diana is only survived by Brian. Under North Carolina’s intestacy rules, all of Diana’s real property and personal property transfers “outright” (and not in trust) to Brian. Even though Diana’s testamentary intentions are for Brian to be a beneficiary subject to a trust with Angie as trustee, North Carolina’s intestacy rules govern and require a different result. Example 10 George desires that all of his real estate transfer to his son, Martin, and all of his personal property transfer to his daughter, Cindy. George dies without a valid Will. George owns $800,000 of real property and $500,000 of personal property. George is survived by Martin and Cindy. Under North Carolina’s intestacy rules, George’s real property and personal property transfer 50% ($400,000 of real property and $250,000 of personal property) to Martin and 50% ($400,000 of real property and $250,000 of personal property) to Cindy. Even though George’s testamentary intentions are for all of his real property to only transfer to Martin and for all of his personal property to only transfer to Cindy, North Carolina’s intestacy rules govern and require a different result. The Importance of Having a Will Examples 6 through 10 show the critical importance of having a valid Will for North Carolina decedents. In these Examples, the testamentary intentions of Peter, Alice, Greg, Diana, and George were thwarted by application of North Carolina’s intestacy rules. We all work hard to accumulate property during our lifetimes. We all have the right to generally control how this property transfers on death. By having an intestate estate (no will), a North Carolina decedent in effect surrenders this right to the state. No North Carolinian should make this mistake. Instead, North Carolinians should have valid Wills to express and carry out their testamentary intentions. Conclusion It is highly recommended that you speak with a probate or estate planning attorney to answer questions specific to your situation. If you need help in finding a trusted attorney reach out to me and I will refer you to one. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.

Before we begin, let's look at a few words to help you better understand this article. Decedent - Is the person who died Administrator, executor, personal representative - Is the person assigned to manage the decedent's assets. These three all have the same role. Assets - Anything that belonged to the decedent. ex. houses, boats, cars, money, stocks & bonds, furniture, appliances, land. Heirs - Usually it is family: Spouse, children, parents, uncle, aunts, cousin Beneficiary - The person that the decedent named in the will or an account to receive certain or all assets. Who Does It Go To? North Carolina law provides that if someone passes away without a valid will (also known as dying intestate), North Carolina's intestacy laws will dictate how their property will be divided. The state's probate court will appoint an administrator to handle the distribution of the assets to creditors and beneficiaries. So, this question is often asked," Who inherits the property when there is no will?" Keep reading to find the answers. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. What is Intestate Succession in North Carolina? North Carolina Intestate Succession Act dictates the lines of inheritance when there is no will. It names which surviving family members may be considered heirs and in what order of succession they stand to receive an inheritance. The law is complex and more so by family issues such as remarriage. Furthermore, most people who write a will leave their property to their immediate family. Thus, the North Carolina estate laws governing intestate succession generally distribute property in a similar way. The Intestacy laws try to mimic the final wishes of the average person. The Clerk of the Superior Court's Office in the county where the decedent last resided handles the probate process. The probate court will designate an estate administrator to take stock of all assets, settle any outstanding debts or taxes, settle burial expenses, and distribute any remaining funds or property to the beneficiaries. Property exempted from North Carolina Intestacy law Because of the contractual nature of some assets, they are not subject to probate. Such Assets are distributed directly to beneficiaries without the need for a Will or the application of intestacy laws. Policies and accounts such as retirement funds and life insurance often have beneficiaries named. Also excluded from probate would be any other assets held in a joint tenancy with the right of survivorship. Tenancy by the entirety is the most common form of joint property ownership for North Carolina's married couples. When one dies, the surviving spouse automatically takes over the deceased's part of the property, if they purchased the property together at the same time. If your spouse owned the property before you were married or he later purchased a piece of property in his name only while you were married, I would suggest you read the article "Surviving Spouses Property Rights in North Carolina" to get an understanding of your rights as well as speak with a probate or estate planning attorney to advise you. Who inherits property when there is no will? According to the North Carolina intestate succession laws, who inherits property depends on the deceased marital status at death and the number of surviving relations. Also, for married decedents, the distribution of property will depend on whether the property is real or personal property and whether you have surviving parents or children. The following shows how property is shared among survivors according to intestate statutes: Where the deceased was single with living parents If only the parents survive an unmarried decedent, then all the assets will be divided evenly between both parents. However, if there's only one surviving parent, they will inherit all property. Where deceased has a living spouse Without living parents and children, the surviving spouse takes possession of all property. Where the spouse and parents are living A common misconception is that if one does not make a will, their spouse will be the sole beneficiary of their estate. In some instances, this may be true, but in most cases, it is not. If there are no children in the family, but the spouse and parents survive, the spouse will get half of the real estate and the first $100,000 in personal property. The surviving spouse will receive half of the excess if there is more than $100,000 in personal property. In North Carolina, if your spouse's parent(s) are alive and your spouse did not have any children, his parent(s) are entitled to receive half of the real estate and the remainder of the personal belongings. Spouse and one child, or child's descendants, are alive The surviving spouse will inherit the first $60,000 value of the decedent's personal property and half of the excess. The child will get the remaining personal property. However, the spouse and child share in the real estate equally. However, if the child is deceased, the grandchildren will inherit instead. Spouse and two or more children or the decedents of the children are alive In line with North Carolina Intestacy law, the first $30,000 in personal property and one-third of the remaining personal property goes to the surviving spouse. Likewise, one-third of the real estate. The surviving children (or their descendants ) get an equal share of the remaining personal and real property. Where the deceased is survived by children only or their descendants Where only the children survive, they will all receive an equal share of the property and real estate. In the case of a single child, all assets are passed on to that child. However, if a child predeceases the parent, their inheritance will go to their direct descendants. Where there is no spouse, child, or parent alive. The laws governing intestacy offer further guidelines for allocating the decedent's assets equally among more distant relatives, such as siblings, grandparents, uncles, and aunts. The law also extends to nephews, nieces, cousins, etc. Where there are no surviving blood relations The State of North Carolina becomes the sole beneficiary of a deceased's property (a process known as "escheat") if there are no other surviving relatives or heirs. However, this seldom occurs because the law provides for the distribution of the estate to even the remotest of relations to the decedent. Most people without relatives would instead give their estate to a favorite institution of higher learning or charity than let it go into escheat. Children's Shares According to North Carolina Intestacy law The state of North Carolina must recognize your children as your legal dependents/children before they can inherit from you under its intestacy statutes. Consider the following situations that might affect a child's inheritance: Adopted children. As with biological children, legally adopted children are entitled to an intestate share. However, foster or stepchildren not formally adopted will not necessarily inherit. Children placed for adoption. Biological children officially adopted by another family will not be entitled to a portion. However, if the spouse adopts the decedents, biological children, it will not affect their intestate inheritance. Children born after a father's death. Children born within ten months after the parent's death will get a share of the intestate inheritance. Children born outside of marriage. Children born outside of marriage are entitled to an intestate inheritance only if they were officially legitimated and paternity was recognized. Suppose a child was born out of the marriage a year after the father's death. In that case, they could inherit if paternity was confirmed through DNA testing. Check out the article "North Carolina Intestate Estates – Part II" this article presents 10 examples that evidence the specific application of North Carolina’s intestacy rules and explain the specific problems that can arise when North Carolina’s intestacy rules govern instead of a valid Will that expresses a decedent’s testamentary intentions. Conclusions Hello, I'm Denise Davis. The owner of North Carolina Probate Solutions and a licensed realtor with United Real Estate East Carolina in Greenville NC. I chose to specialize in probate because I am also a registered nurse who have worked with hospice and palliative care patients and families. Because of the many families I have worked with who have lost a loved one and my own personal experiences, I understand the hurt, pain, and disappointment that death brings. Trying to deal with probate and the lost of a loved one can feel like a tremendous load to carry. I know probate can be both emotional and frustrating and can add additional stress to an already stressful time in life. I understand the probate process and what is required to bring the process to completion. If there is something that I do not know, I work with experienced attorneys, contractors, accountants, inspectors and many other professionals who I can turn to, to get you the answers you need. If you need to sell your loved ones home to pay off debt or to distribute funds to the heirs and/or beneficiaries lets talk to see how I can help you. I provide options, so whether it's listing your home on the market or getting you a fast cash offer I can help you. If you find yourself having questions or needing guidance with probate matters, please feel free to reach out to me! Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Denise Harper Davis Certified Probate Real Estate Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.

The emotional weight of grieving for a departed spouse can make an estate settlement challenging to manage. It is helpful for the surviving spouse to understand their marital rights in property and inheritance when they begin to deal with estate matters. Surviving spouses in North Carolina are guaranteed certain legal protections, including monetary support and a portion of marital assets. Let's look at the property rights of the surviving spouse in North Carolina. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Jointly owned property When one spouse dies in a marriage held in joint tenancy with the right of survivorship in North Carolina, the surviving spouse becomes the sole owner of the property. This type of joint property ownership is known as Tenancy by the entirety. All joint accounts with rights of survivorship follow the same rule. Property held under tenancy by the entirety automatically passes directly to the surviving spouse regardless of the provisions of a will or the intestate succession statute. Real property as well as personal property like cars and bank accounts, can be held in joint tenancy. Property rights of the surviving spouse when there is no will North Carolina intestate succession laws dictate what happens to a person's property when they die without leaving a will (i.e., intestate). These statutes allow a surviving spouse to receive a portion of the deceased's estate. The amount of the inheritance depends on the number of the decedents surviving children and whether the estate is real or personal property. Although common law marriage grants a lifelong companion certain legal protections and benefits, North Carolina law does not recognize such unions. The surviving spouse must be legally married to the deceased at their death to claim spousal rights. Suppose a couple is legally separated at the time of death. In that case, the surviving spouse does not receive any of the assets. Also, like other heirs under the Act, a surviving spouse must outlive the deceased spouse by 120 hours (5 Days) to gain property rights. The amount of the inheritance that the surviving spouse can get is determined by the following criteria: If there are no living children, grandchildren, or parents, the surviving spouse will inherit all of the decedent's estate, both real and personal. If the deceased had no surviving children or grandchildren but at least a living parent, then the spouse gets half of the real estate. The spouse also receives the first $100,000 plus half of the balance of the personal property. The surviving spouse is eligible to half of the real estate and the first $60,000 plus one-half of the balance of the personal property if there is only one surviving child or grandchild. The surviving spouse gets one-third of the real estate and the first $60,000 plus one-third of the balance of the personal property if the deceased left behind more than one child or grandchild. Property rights of the surviving spouse where there is a will A spouse cannot be disinherited under North Carolina law. Hence, if left out of a will, the surviving spouse can override the will and claim an elective share of the estate. A prenuptial agreement, however, could invalidate the surviving spouse's claim to an elective share. In North Carolina, a surviving spouse has six months from the issuing of letters of administration in conjunction with a will to make a claim for an elective share. Otherwise, the right is forfeited. All non-probate assets that go to a spouse apart from a will, such as insurance or joint property holdings, are factored into the elective share. In addition, according to the law, the elective share is determined by the length of the deceased spouse's marriage and is as follows: If the marriage lasted less than five years, the surviving spouse is entitled to fifteen percent of the total net assets. The surviving spouse is entitled to 25 percent of the total net assets if the couple was married for at least five years but less than ten years If the marriage lasted for between 10 years and 15 years, the surviving spouse is entitled to 33% of the total net assets. For a marriage that lasted more than 15 years, the surviving spouse receives 50% of the deceased total net assets. The Spousal Year's Allowance For the first year after a spouse's death, North Carolina law (N.C.G.S. 30-15 through 30-33) provides financial support for the surviving spouse. This provision is called a "year's allowance." The surviving spouse has a year from the decedent's death to apply for this benefit through the Clerk of Court. The value of the year's allowance is $60,000 and is only applicable to the deceased non-real estate property. The allowance is added to the surviving spouse's intestate portion if the decedent dies without a will. On the other hand, if the deceased left a will, the allowance will be subtracted from the surviving spouse's inheritance. Summary According to state law, a spouse in North Carolina has a right to an inheritance due to marriage. Provisions for spouses include elective shares, intestate rights, and the year's allowance. Thus, North Carolina law safeguards the property rights of the surviving spouse regardless of whether or not there is a valid will. Conclusion In the matter of surviving spouse rights in North Carolina, I highly recommend you speak with a probate or estate planning attorney to receive accurate information that is specific for your situation. If you need help in finding at attorney to work with or answer your questions contact me. I will refer you to one who can help with your case. Also, if you are in need of selling a home that has been included in probate or inherited, feel free to give me a call. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.

One of the scariest things about living in beautiful parts of the world is the extreme climates and frequent storms. Whether you live in Florida, facing seasonal hurricanes and storm surges or in some of the central states in the heart of Tornado alley, it can be rather terrifying making sure everyone you love is safe with the looming possibility of having to evacuate. If you have enough time to protect your home, there are several steps you can take to ensure it's ready for the worst. In this article, we will share some quick and easy ways you can protect your home in a storm. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Check your roof Obviously, some storms that mother nature brings our way can not be avoided and unfortunately, we may not be able to take any measures to stop carnage and destruction. However, most of the time with a few simple steps you can greatly decrease damage to your house and home. Your roof's integrity is at risk at any time but especially during a storm of strong winds and heavy rain. Check for any damage beforehand, and if it looks ok you can do a little extra by sealing the chimney or vent pipes. This is a great way to limit water from seeping into your house. By cleaning your guttering and downspouts you help the heavy rainfall flow nicely into the drainage area. If not, it can flow over the side into areas of the house’s foundation which can create flooding and chances are the water will again find its way into your home. Seal the doors and windows Wind coming directly at your house will be pushed up, potentially lifting your roof, meaning rainfall coming into your home. Sealing the doors and windows can prevent water and wind from entering into any cracks, and entry points and forcing the wind in different directions. You can even make your own DIY storm shutters with ¾ inch marine plywood or metal storm panels. It is very important that these panels overlap each side of the window by 4 inches. Great for hurricanes and any storm with very strong winds. Clean up outside Anything in your yard is a potential projectile that may fly toward your house during the apex of the storm. Make sure you trim any trees with loose or dying limbs. Tie down any large garden furniture or items such as doghouses, boats, flowerpots, swings, etc. Trashcans and the like need to be secured or put in the garage to prevent them from flying at high speeds toward your house or a neighbors. To help your home against floods place sandbags outside of your home. Stacking them up to build a wall to stop the water from finding its way into the crevices and cracks in the foundation of your home. Preparing the inside of your home If you live in the colder part of the country where cold winters are a big factor for you and your home, there are a few things that can be done to help before the bad weather approaches. It is a good idea to have snow shovels and other equipment handy to remove snow in the aftermath. Having some rock salt somewhere is also a good idea to melt the ice on walkways, steps, and driveways. Insulating the attics, basements, and walls can help heat your home more effectively, as well as putting plastic over the windows. Power outages are notorious in winter storms so keeping warm is essential in such extreme weather. Conclusion It is good to always have some of this in store just in case a storm hits and you do not have time to go to the store to get some . In the situation that there is a flash flood or storm approaching it is just a matter of putting up the shutters and bringing in potential projectiles. Preparation goes a long way and even if you only have to use them once in a blue moon it is worth being prepared when you are protecting yourself, your family, and your home. Be safe. Be ready. If you have an inherited home, a probate home, or just a home you are wanting to sell, give me a call, and let's discuss the best options to get your home sold quickly and for the most money. I look forward to speaking with you. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice. Learn More: Using Paint Primer To Improve The Look of Your Inherited Home Can I sell my inherited house before probate is completed in NC? 7 Important Things You Need To Know: Inherited Property

Is there any point in using paint primer? It seems like we use it out of habit because we have been told to buy it and use it, but why do we go through these motions? Is it needed? And if so, why? The quick answer is yes, we do need it. In this article, we will discuss different types of primers and the best ways to apply them. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Why we need a primer If you are looking for the best results and want to do a proper job of painting your walls then make sure you use a primer. The reason primer is so important in the painting process is it helps produce a clean even coat which then seals the wall. This absorbs into the wall preventing moisture to build up. There are different primers for different solutions. Let’s focus on three. Stain-blocking primers Stain-blocking primers are self-explanatory, it helps block potential stains seeping through your paint job. Sometimes you may notice rust, grease, and residue creep through. This primer helps fight against that. Barrier primers For bathrooms, you would want to use vapor barrier primers to keep moisture passing through the walls exterior. Otherwise, you could notice damage to the wall’s insulation and the paint on the exterior of the wall. Bonding primers If you have a very glossy and slick surface the best primer to use is a bonding primer. Bonding primer is essential for the paint to adhere to the walls and prevent mildew and dampness from building up in bathrooms and kitchens. Using primer correctly Now we understand primers, the question is how do we use them? Always use primer on interior walls as it will help the paint stick and bring down the number of coats you will have to apply. When using the roller try to go from floor to ceiling applying an even coat and don’t leave any bare patches as this can affect your final color of paint, as well as the depth and texture of the coat. When using a handheld paintbrush to fill in those little gaps make sure you use the primer with long smooth strokes. Then go over it in different directions to spread and even out the primer. For any difficult areas, just use the tip of the brush. How much primer do I need? For most projects, a gallon should be enough to finish most painting jobs. However, it never hurts to have a little more just in case. Make sure you allow the primer to dry completely and you should give the base coat around 4 hours to set. At this point, the primer should be dry before you commence applying any more coats of paint. For this reason, many people will apply a primer in the afternoon or evening and then finish up painting the next morning knowing that it has had plenty of time to dry. If you don’t allow enough time for the primer to dry and you begin to paint over wet or moist primer it can cause smudging. This will ruin your coat. If you decide to leave the air conditioning on or leave a window open this will help the primer dry a little quicker. The key here is to be patient and not watch the paint dry but let it dry! Conclusion Now we are a little more educated on paint primer let's get to it and see those results for ourselves. Good luck and get painting! If you need help selling a home you inherited or a home that has been included in the probate process contact me or give me a call today. I'll be glad to share my expertise with you! [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice. Learn More: Kitchen Maintenance - Boost the Value of Your Probate Home with these 7 Tips 9 Tips to for painting walls in your inherited home What things should I fix in my inherited house before I sell it? How a Probate Real Estate Agent Can Help You Sell Your Property?

If you are looking to sell a home you inherited or that's been included in the probate process you want to pay special attention to certain rooms in the house. Since some feel that the kitchen is the heart of the home, this may be the area that you want to include in your budget for maintenance and repair. Here’s a checklist for you to prepare the kitchen to make a great impression, which will help you get top dollar for the house. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Fix the Flooring The floor along with the walls can set the mood of the room faster than anything else. You want to use this resource to get the buyers interested and not chase them away. Buyers will not consider your home if the kitchen’s floor looks worn out and damaged. Consider installing new flooring or just thoroughly clean the one already in place. Install Kitchen Backsplash Installing backsplash is a great way to give your kitchen an extra bit of finishing touch while making a good impression on the buyers. You have beautiful options to choose from. There’s the glass tiles, stone tiles, stainless steel sheets, paint designs, and wallpaper. With the right choice of backsplash, you can make the kitchen a beautiful place to be in. Rejuvenate the Cabinets Painting the cabinets and making them look and smell fresh can make things better. Think about it, the cabinets take a lot of space in the kitchen. You can make this space look new, and the whole kitchen will look new also. They just have to match the general aesthetic feeling of the kitchen. Repair Leaky Faucets Showing a kitchen with leaky faucets does not speak good about the kitchen, and the house in general. It is a bad impression to make and can devalue the home. It makes the home feel ‘unready’. The sound from the leaky faucet is annoying, so get it fixed or replaced by a plumber before showing it to buyers. Upgrade Lighting Fixtures Add class and beauty, and increase the value of the home at the same time when you upgrade the lighting fixtures. Replace outdated fixtures and install new ones. You can take a kitchen from dim and dull to sharp and exciting with the right lighting. Redo the Walls Remember the walls and flooring go hand in hand in setting the general mood of a room. When fixing the floor, redo the walls too. A nice coat of paint can really change the feel of the home. If you are unsure what color you should chose ask the salesperson in the paint department which color seems to be the most desirable. Repair the Sink An aging sink is sad to look at. Think of all those stains and sometimes rust. Who would pay a high amount for a home with a sink that’s seen better days? If you want the value of your home to be where you want it to be (assuming: high), then get the sink repaired or replaced. Conclusion You don’t need to spend a lot of money on this checklist. Just make these parts of the kitchen look new again. When you carry out kitchen maintenance in such a way that the buyers love the kitchen immediately when they see it, you can recover the money you spent on it. If you are planning on selling a home that you have inherited or a home that is included in the probate process let's discuss what you need to do to get top dollar for the home. If wanting to sell it as is I'll show you how to quickly get a cash offer for the home. Call me today, I'll be glad to speak with you and share my expertise. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice. Learn More 24 Things You Need to Know About Selling a House in Probate in NC What things should I fix in my inherited house before I sell it? Can I sell my inherited house before probate is completed in NC?

If you are hoping to receive top dollar for the home you inherited one of the most important things you can do is painting the walls to improve the look and feel of the house. Many people make common mistakes when first painting and decorating. One of them is sacrificing on investing in quality tools and paint. It may be a little more expensive, but the results are worth it, considering this could truly motivate buyers to want to purchase the home quickly. In this article we will share some things you can do to make your walls look more attractive and draw the attention of future buyers. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Now you need some paint. Never that simple though is it? Choosing paint can be a rather daunting procedure, just because of the amount of choices on the market. The color and style will change the whole mood of the room, so it must fit in with the theme but also to the character of the house and the owner. Even if it takes a long time to choose the right color, I advise to go for a high-quality paint with eggshell or semi-gloss for the best finish. A great tip I have learned is to use flat and angled paint brushes, as they tend to apply paint more evenly. Make sure when purchasing your paint, you add in 10% extra for waste. Paint the trim first This is what the pros will always tell you. It just makes so much sense, and yet so many homeowners going at it alone decide not to listen to this advice and regret it straight away. By painting the trim first, it doesn’t matter too much if you make mistakes, it can be corrected and covered up with ease. When the paint has dried you can then tape it up and have no worries about drops of paint going over your beautiful trim. Simple and effective. Yes, it might sound crazy but it’s true. Check the weather forecast Another tip, check the weather before painting inside. The truth is, the weather outside can really affect your paint job, practicality and time. Wet and humid days will mean spending longer time watching paint dry. And you will need to open the windows while you are painting, for better ventilation. Open windows and rain don’t match very well as I found out the hard way. Prep first by cleaning the surfaces, repair any defects and make sure radiators or other areas are covered and protected. Then prime if need be, and this is the time to trim. If you have found any cracks by shining a bright light on the walls you can use caulk to fill in any of those gaps where needed. Lastly, always paint the ceiling first to avoid drips and drops on your walls. Use the roller to paint the walls and then you are well on your way to creating a beautiful home and attracting future home buyers. Conclusion I hope this have helped to give you some ideas when it comes to painting! If you have any questions or concerns selling your inherited home then please reach out to me. I will be glad to share with you more tips and advice to getting your home sold for top dollar and if it you just want to sell the house as is, we can discuss ways to get a quick cash offer on the home. I look forward to hearing from you. Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here. Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice. Learn More What things should I fix in my inherited house before I sell it? Can I sell my inherited house before probate is completed in NC? 5 Things You Need To Know Before Selling Your Inherited Home in NC

Are you thinking of selling a home you inherited? Whether it’s to upgrade to something bigger, move closer to family or friends, or make a fresh start somewhere new, certain steps should be taken before putting your property on the market. One important step is making sure all necessary repairs have been taken care of--repairing worn-out floors and broken appliances will go a long way in helping you get top dollar for your house in the seller's market. In this post, we'll look in-depth into what needs fixing before selling a house and explore creative solutions that won't break the bank. With these tips, you can prepare your space for potential buyers without spending too much time and money on renovations. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Why Should I Fix Up My House Before Selling? The mantra “first impressions count” or "potential buyer's first impression" rings true when selling a property. Potential buyers will form their opinion of your home within the first few minutes of seeing it, and if they see that repairs have not been made, they may be turned off by what they see. Making necessary repairs before listing your house can ensure you get top dollar for your property. Investing in minor repairs, such as patching holes in walls or fixing broken appliances, can pay for itself when buyers offer more money for a well-maintained space. Fixing up your home also sets you apart from the competition because many homeowners overlook this step when prepping their properties for sale. Investing in some improvements can help your house stand out from the rest. The first step to consider is consulting with a real estate agent. A local real estate agent will tour your home and provide you with an assessment of what needs to be repaired or improved. Top real estate agents can easily also point out potential problems affecting the sale, like safety issues, zoning regulations, etc. Some Of The Things You Should Fix In House Before Selling Improve The Exterior of Your Home Before putting your home on the market, it's important to make sure that the exterior of your house looks as good as possible. Investing some time and effort into sprucing up the front of your house is a great way to add curb appeal and attract potential buyers. Here are a few tips for improving the exterior of your home before you list it for sale: Start with the basics Clean up any clutter outside, mow lawns, trim hedges and trees, sweep pathways, pressure wash surfaces such as siding or driveways, and repair anything broken or damaged, like fences or steps. Paint where necessary Giving your home’s exterior a fresh coat of paint can do wonders for its presentation. Make sure to go over any wood with a sealant or primer before painting, and don’t forget the garage door too! Enhance garden areas Clear out any unwanted debris or weeds in the yard, remove dead flowers, and add a few new ones to brighten the area. You can also invest in furniture, such as seating or a fire pit, to give the space an inviting atmosphere. Improve lighting Adding lights around your garden will help improve visibility if you have potential buyers viewings at night time. Additionally, solar-powered lights provide a great ambiance without worrying about monthly bills. Update outdoor fixtures If you have old faucets, light fixtures everywhere, or door knobs that look dated or worn, replacing them can give the exterior of your home a much-needed facelift. By following these simple steps and investing some time in prepping the exterior of your house before selling it, you’ll be able to make a great impression on potential buyers and help ensure a successful sale. Check And Repair The Roof For Any Signs Of Damage Or Wear And Tear The roof is often the most expensive repair, so it’s important to ensure everything is in good condition before listing your home on the market. Have a professional inspection for any leaking issues, missing shingles, or broken tiles that may need replacing. Cracks or broken sealant should also be addressed, as these can lead to larger problems in the future. Proper roof maintenance and repairs will help avoid costly replacements and make your home more appealing to potential buyers. Repairs may seem costly upfront, but they’re essential for getting a good price on your home when it comes time to sell. Keep records of any major improvements you make to improve the condition and appeal of the home—it could make all the difference! Paint Areas of Your House That Need It Painting is always a great way to improve the look of any home before selling. Even small updates, such as touching up areas that need it or freshening up faded walls with a coat of paint, can make a house feel updated and inviting. When you’re getting ready to put your house on the market, start by taking stock of each room and deciding which areas should be painted. Pay attention to scuff marks, scratches, and other blemishes in high-traffic areas like hallways and entryways, but also don’t forget about spots near windows, baseboards, and other hard-to-reach places. If you’re going to do the painting yourself instead of hiring a professional, you’ll want to start by prepping the room. Make sure to move furniture out of the way and cover anything that needs protecting with drop cloths. Once everything is ready, clean the walls and wipe off dust or cobwebs with a damp cloth. Next, it’s time to apply primer (if needed) and then paint. Spend extra time on edging corners and other hard-to-reach areas using an angled brush for maximum accuracy. If you have more than one coat of paint to apply, allow each successive coat enough drying time before moving forward. When finished, take stock of your work--did you miss any spots? Does the color look even, or are some areas darker than others? What about texture--are there any drips or streaks that you missed? Finally, properly clean your brushes and rollers before putting them away. This will help ensure they’re in the best condition for your next painting project. Refinishing Hardwood Floors Refinishing hardwood floors is a great way to bring value to your home before you sell. Hardwood floors are timeless and add a classic appeal to any space, but they do need some upkeep. Refinishing can restore the wood's natural beauty, protecting it from dents and scratches. Refinishing hardwood involves sanding down, staining or painting, and sealing the surface of the wood. The work depends on how much damage has been done to the floor's surface over time. If there are only minor scratches and discoloration, light sanding may be required for refinishing; however, if more serious damage, such as deep gouges, has occurred, then more extensive sanding will be needed. Once the floor is prepped and ready to go, you can begin staining or painting it. There are a variety of color options designed to match any style or palette. After the stain has dried, a sealant should be used for added protection against water damage and UV rays from sunlight exposure. Refinishing hardwood floors may seem daunting, but you can do the job quickly with some elbow grease and patience. With proper care, refinishing your hardwood floors could add thousands to the value of your home when it comes time to sell. Not only that, but it’ll help ensure your house looks its best and make potential buyers feel amazing at home. Upgrade Your Kitchen With New Countertops, Appliances, And Cabinets When selling a home the kitchen is often a major factor in how potential buyers perceive the property. So if you want your property to look its best and command top dollar, upgrading your kitchen before listing it on the market is important. With a few strategic upgrades, you can make your kitchen more attractive and appealing to prospective buyers. One of the easiest ways to refresh an outdated kitchen is by replacing old countertops with modern materials like granite or quartz. Not only are these materials stylish and durable, but they also offer easy maintenance for busy homeowners. Replacing appliances such as refrigerators, microwaves, and ovens can help create a cleaner, more contemporary look in the kitchen. Consider upgrading your cabinets for a more sophisticated look. Replacing them with new painted or stained-wood cabinetry can make a huge difference in the overall feel of your kitchen. Of course, if you’re on a budget, it may be worth painting existing cabinets or refacing them to give the room an instant facelift. By making simple upgrades like these to your kitchen, you can help ensure that potential buyers see your home in its best light—which could mean a higher sale price and even faster turnaround time when listing your property. So don't forget to invest extra time and budget to update key areas like your kitchen when preparing to sell! Set All Plumbing Problems. Before selling your home, it's important to ensure all plumbing problems have been fixed. Leaky pipes, faulty water heaters, and broken toilets detract from a home's value and are things that potential buyers typically look out for. These issues can cost you thousands in repairs or even a lost sale if not taken care of. So what should you do? Inspecting every pipe in your house may be too time-consuming and costly, so focus on checking for any obvious signs of trouble, like discolored walls or floors around fixtures, rust stains on faucets and drains, and slow-draining sinks or tubs. You should also flush all the toilets to ensure they work properly and test the water pressure in all of your fixtures. You may want an experienced plumber to inspect the system if anything is amiss with the pipes or connections. Be sure to hire a qualified professional to properly assess your electrical system and diagnose and repair any issues. This will ensure that you and the potential buyer don't run into any problems when it's time for the inspection during escrow — which could cost you more money. By ensuring all plumbing systems are functioning correctly, you'll be able to increase your home sales price and impress potential buyers with its condition. Taking care of these matters ahead of time is well worth it. Replace Old Windows With Energy-Efficient Models. Preparing your home for sale involves many steps, including replacing old or torn window screens with energy-efficient models. Adding new windows will add to your home's overall appeal and desirability and reduce the amount you'll spend on heating and cooling costs each month. When selecting replacement windows, look for weather-resistant materials that are easy to maintain. Vinyl frames are popular since they're lightweight, durable, low-maintenance, and more cost-effective than wood or aluminum. Ensure you choose a style that fits with the architecture of your house; if you have an older home, opt for a classic double-hung design, while contemporary homes may benefit from a sleek picture window. Remember that replacing your windows is an investment that will be returned when you sell. What may seem like a large expense now can pay off significantly come closing time. You'll recoup the installation cost and enjoy savings on utility bills for months, making it worth the effort. Be sure to get quotes from several contractors before choosing one; look for someone with significant experience and favorable reviews from other homeowners. A good contractor can help you select windows that meet your needs while staying within your budget—so don’t hesitate to ask questions or seek their advice as you consider different models and materials! With the right energy-efficient windows, you can increase the home's curb appeal and value of your property, setting yourself up for a successful sale. Functionality is Essential Functionality is essential when preparing to sell a home. Potential buyers will be looking for a home that functions properly, so it's important to ensure all necessary repairs have been taken care of before listing your property on the market. This includes repairing worn-out floors and broken appliances, fixing leaky faucets, and any other minor fixes, upgrading locks and door handles that work properly. This will also help update the look and feel of your space. Other functional items that should be addressed during the home inspection include ensuring all electronics are in working order, such as televisions, computers, microwaves, etc. Check smoke detectors, carbon monoxide detectors, and fire extinguishers to ensure they are up to date and work properly - this could save you money during inspections or when negotiating a sale. FAQs What things should I avoid doing if I want to sell my house quickly? When preparing your home for sale, the most important thing to remember is that you should not make any major renovations or changes. Although taking on a large project may seem attractive, it will ultimately take away from the time and money spent on other necessary home repairs. Major projects like installing a swimming pool or remodeling an entire room can deter potential buyers. What causes the most damage to homes? The most common sources of damage to homes are exposed to the elements, such as rain and snow, as well as age-related wear and tear. These factors can cause water infiltration, foundation problems, roof damage, etc. What common problems can occur when selling a home? The most common problems when selling a home include poor curb appeal, outdated appliances, plumbing and electrical issues, a lack of energy efficiency, pest infestations, and more. Buyers and real estate agents will often consider these factors when assessing your property's value. What color house sells best? Studies have shown that home buyers often prefer neutral colors when it comes to the exterior of a house. Neutral tones such as whites, grays, and beiges are popular because they offer a timeless look that won't clash with potential buyers' or buyers' style preferences. What doesn't add value to a house? Unnecessary upgrades such as installing a Jacuzzi or adding an extra bedroom can be costly and might not add any additional value to the home. It’s important to note that some DIY projects may reduce the value of your home if not done properly. Conclusion Selling a home can be intimidating, and it's important to ensure your house is in prime condition before you list it, unless you are just looking to sell it as-is for a fast cash offer. Taking care of the necessary repairs and upgrades before listing gives you more negotiation power and increases the likelihood that you'll walk away with the right deal. If you would like to discuss which option is best for you please feel free to contact me. [Need help with probate? Join our Private Facebook group where you can ask questions and get answers, learn from others or share what you learned about the probate process. Be the first to join our new group! Join Here.] Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers, guidance or advice.

When inheriting a home, you may be anxious to turn it into cash. But selling an inherited house can be complex and overwhelming, especially if this is your first time going through it. Understanding the different steps involved in selling an inherited property to get the best price for it and maximize your return is important. This article will explore the various steps needed to sell an inherited house for top dollar. We'll look at key considerations such as working with a real estate agent, determining fair market value, and dealing with capital gains and taxes. Let's look at how exactly to navigate selling an inherited property. 1. Navigate Probate Process to Sell Inherited Property The first step in selling an inherited house is understanding the probate process. Probate is a court-supervised legal process that validates a will and appoints an executor to identify estate assets, pay creditors and distribute the remaining assets to beneficiaries. If the deceased person dies without a will, the court will appoint an administrator. Depending on your state's laws, probate may or may not be necessary to sell an inherited house. [Need help with probate? We offer helpful probate services and will work with you to find the plan that meets your needs. Learn more.] 2. Consider Hiring a Certified Probate Real Estate Agent The next step in selling an inherited house is finding the right real estate agent. A knowledgeable real estate agent can be a great asset to help you navigate through the process. If the house in included in the probate process it is important to find a certified probate real estate agent who understands the probate process. A certified probate real estate agent is trained in the probate process and should be able to help you correctly navigate the process of selling your inherited home. They can help you set a realistic selling price, market the house and negotiate with potential buyers to get top dollar. Your probate real estate agent should also be able to connect you with attorneys and accountants who can help you with legal documents and answer questions about capital gains taxes, property taxes, and other issues related to selling an inherited house. 3. Research the Fair Market Value of Your Home The next step in selling an inherited house is determining its fair market value. The fair market value of a home is the amount for which it could be sold on the open market, assuming both buyer and seller are informed and willing. It's important to be aware of the fair market value to set a realistic price for it when selling an inherited property. This can be done by looking at comparable homes in the neighborhood and considering any upgrades or renovations that may need to be made to your inherited property. Also, Your certified probate real estate agent should be able to provide you with a market analysis of comparable homes in the area so that you can determine an appropriate asking price. 4. Prepare for Taxes When Selling Inherited Property Taxes can be a major factor when selling inherited property and should not be overlooked. Depending on the situation, there may be federal estate and inheritance taxes and capital gains taxes. Property owners will need to pay the property taxes up to the date of sale to complete the sale. For those selling a primary residence, there may be some protection from capital gains taxes in the form of the Home Sale Tax Exclusion. Under this program, any profits up to $250,000 ($500,000 for married couples filing jointly) from the sale of a primary residence may not be taxable. 5. Finalize the Sale of Your Inherited Home The steps in selling an inherited property depend on the state and can vary greatly. In some states, the process begins with going through probate court to have the property transferred into your name. There may be additional steps in other states, such as filing special paperwork or obtaining a court order. Once the property has been transferred into your name, you can start selling it. This typically involves hiring a real estate agent to list the home and market it to potential buyers. The agent will help you determine the home's fair market value and negotiate an offer that's in your best interests. Once an offer is accepted, the sale must close, and all the necessary paperwork must be completed. Depending on the situation, this can involve paying capital gains taxes or other taxes and dealing with any liens or other outstanding debts associated with the property. Once all of this has been done, the sale can be completed, and you'll have your money from the sale. FAQ's What is the holding period for inherited property? In general, there is no holding period for inherited property. This means that if you sell inherited property immediately after receiving it, you may be subject to capital gains tax on any increase in value from the date of inheritance. Is it better to keep or sell an inherited house? The decision to keep or sell an inherited house depends on various factors, such as your financial situation, personal preferences, and the condition and location of the property. It is important to consider the costs and benefits of each option and consult with a financial or real estate professional before making a decision. Is selling inherited property taxable? If you sell inherited property for a profit, you may be subject to capital gains tax on the difference between the sale price and the property's fair market value at the time of inheritance. However, if you sell the property for less than its fair market value at the time of inheritance, you may be able to claim a capital loss deduction on your taxes. It is important to consult with a tax professional for guidance on your specific situation. What taxes do I need to pay when I inherit property? Depending on the estate's value and the tax laws in your jurisdiction, you may need to pay federal estate tax or inheritance tax. Do I need to pay taxes on inherited property? Yes, you may need to pay taxes on inherited property, depending on the value of the property and the tax laws in your country or state. If I sell property, do I need to pay capital gains taxes? You may need to pay capital gains tax if you sell the property for a profit. The amount of tax you pay depends on various factors, including the time you held the property and your tax bracket. Conclusion Selling inherited house can be a complex process and involves more than just putting the property up for sale. It's important to familiarize yourself with the laws and regulations in your area, hire a knowledgeable real estate agent and understand any federal estate, inheritance, or capital gains taxes that may be involved. Doing all this will help ensure you get top dollar for your inherited property and that the sale is completed quickly and smoothly. Denise Harper Davis Certified Probate Real Estate Specialist Licensed Realtor 252-902-9006 * NOTE: North Carolina Probate Solutions and the author of this article is not a licensed attorney or CPA. This post should not be considered legal or tax advice. Always consult an estate attorney or tax professional when needing legal answers and legal advice.