Denise Knows Probate! Buying real estate can be an exciting journey, but there are certain nuances when buying a property through the probate process. Understanding what probate real estate entails and addressing potential issues is crucial to ensuring you move forward without any unexpected delays or financial losses. In this blog post, we'll explore the basics of how the probate process works and uncover valuable tips on navigating successfully through the steps so that your real estate closing can go as smoothly as possible. Read on for helpful insights into this complex topic. Definition of Probate Probate is the legal process of validating a deceased person's will and distributing their assets according to the instructions outlined in the will. This process may require court supervision and can take several months, or even years, to complete. Probate becomes an even lengthier process if someone dies without a valid will as decisions must be made about dividing the deceased person's assets. Regarding real estate, there are times when probate opens up opportunities for buyers to acquire properties from estates at reduced prices. However, there are unique challenges associated with purchasing a property through a probate that must be addressed to ensure a successful closing. [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.] Certified Probate Real Estate Agent If you are looking to buy a property that is included in probate the first thing you should do is speak with a real estate agent who is trained and have a clear understanding of the probate process. A certified probate real estate agent is a licensed professional trained in the probate process and have the knowledge to assists buyers and sellers in buying, selling, and renting properties. They know the probate laws and regulations. They also know the local real estate market and can provide useful advice on pricing, negotiating, and marketing strategies for successful transactions. Probate Real Estate Properties Probate real estate properties are houses and land, as will as other assets, owned by a deceased person at the time of death. These properties must be legally disposed of through probate proceedings before they can be sold. However, in North Carolina real estate only has to be disposed of if there is not enough funds to pay the decedent's creditors. The executor or personal representative of an estate is responsible for handling all aspects of probate, including the sale of the property. In some cases, selling through probate can be lengthy and complicated, but it also presents an opportunity for buyers to acquire desirable properties at reduced prices. Probate Real Estate Process Appoint an Executor or Personal Representative The first step in the probate real estate process is to identify and appoint an executor or personal representative of the deceased person's estate. This individual will handle all probate proceedings, including selling the property. Inventory Assets Once appointed, the executor must inventory all assets of the deceased person's estate, including any real estate they owned at the time of their death. Determine Property Value The executor must then determine the current market value of each real estate asset owned by the estate. This is typically done through the help of a certified probate real estate professional or a professional appraisal. Notify Creditors The executor must notify all estate creditors that a probate proceeding has been initiated. Clear Titles and Lien Next, it is important to ensure any titles or liens associated with the property are cleared before the sale. Issue Notices The executor is responsible for issuing notices to anyone interested in the property, including heirs or beneficiaries named in the will and any other parties that may be affected by the sale. File Probate Documentations Once all required documents and notices are filed with the court, a probate hearing will take place where the judge will either approve or reject the proposed plan for the assets from the estate. List Property for Sale Once approved, the executor can list the property for sale with a real estate agent or broker. Negotiate Offers With the help of the certified probate real estate agent the executor will then review offers from potential buyers and any contingencies associated with the purchase offer. However, it is the clerk of superior court that has the final say so on the offer if the house is included in probate. Close Escrow Finally, once all paperwork is in order and any contingencies have been cleared, escrow can be closed, and proceeds from the sale will be distributed. First paying creditors and taxes and then according to instructions outlined in the deceased person's will. Navigating probate real estate purchases can be complex and time-consuming, but understanding these steps can help ensure you successfully close your dream home. Responsibilities of Real Estate Agent Following are; Understanding the process A certified probate real estate agent should have a thorough understanding of the probate process and laws governing real estate transactions in their local jurisdiction. Pricing & Negotiation Agents should help buyers and sellers negotiate fair prices for properties being sold through probate. Preparing contract documents Agents should prepare the documents required to complete the sale, including purchase agreement contracts and closing paperwork. Completing inspections Agents can coordinate any necessary home inspections or other due diligence activities on behalf of the buyer or seller before closing the deal. Processing payments Agents are responsible for processing all payments related to the transaction, such as deposits from buyers and proceed from sellers. Managing deadlines Agents must ensure that all paperwork is completed and all deadlines are met throughout the transaction process, including any court-mandated timelines. Closing & distribution of proceeds Finally, agents must coordinate with all parties to complete the closing process and distribute proceeds according to instructions outlined in the will. How Long Does Probate Take The amount of time it takes to complete the probate process can vary greatly depending on the complexity of the estate and any legal issues that may arise along the way. Generally, it can take anywhere from six months to two years for all assets in an estate to be distributed, including real estate holdings. How to Sell Probate Properties Following are the ways: Auction An auction is a great way to sell a property quickly and involves interested buyers. Direct Sale The executor can directly list the property for sale with a real estate agent or broker, who will handle all aspects of the transaction. Short Sale In some cases, the executor may negotiate a discounted sale price with potential buyers to expedite the sale of the home. Lease Option This strategy allows buyers to lease a property with an option to purchase it later after their finances are in order, and any other contingencies have been cleared. Rent-to-Own Under this option, tenants rent properties from the estate while saving up money to purchase the home later. How To Buy Probate Real Estate Following are the ways: Bid at a Public Auction Interested buyers can bid on properties at a public auction sponsored by the probate court. Secure Financing Securing financing for any real estate purchase is important before submitting an offer. Know Your Rights & Responsibilities When buying a property through probate, it's important to understand your rights and responsibilities as a potential seller or buyer. Work with an Attorney or Real Estate Agent Working with an experienced attorney or real estate agent can help buyers navigate the complex process of purchasing probate real estate. Make Room for Contingencies/Inspections Include contingencies in purchase offers, such as home inspections or document reviews. Advantages of Investing in Probate Real Estate These include: Lower Prices Probate properties are often sold for less than market value, making them attractive investments for buyers looking to get a good deal. Opportunity to Negotiate In probate sales, buyers can often negotiate prices or terms with the estate executor. Minimized Competition In some cases, fewer buyers are interested in purchasing probate real estate due to the added complexity of the process. Convenience & Flexibility The executor has more leeway when selling a property and may be willing to entertain offers that may not otherwise be accepted. Tax Benefits Depending on your situation and state laws, tax benefits may be associated with investing in probate real estate. The probate process can be complicated and time-consuming. Still, with the right knowledge and preparation, it can also be a great opportunity to purchase real estate at a discounted price. FAQs Is buying probate real estate difficult? Buying a property through the probate process does not have to be difficult. An experienced attorney or real estate professional can help make the process easier and can even address issues or potential delays before you make an offer. They can explain the steps involved, answer questions, and help you navigate the process. What are court approval and joint tenancy? Court approval is needed to transfer property ownership in the probate process. This involves filing a petition with the court, which the judge will review and approve. Joint tenancy is a form of ownership that allows multiple people to hold title over the property. When buying a probate property, you may encounter joint tenancy and need to address it with the court. What is meant by a revocable living trust? A revocable living trust is a legal document that specifies the terms of how a property should be transferred to another individual upon the death of the owner. This type of trust is commonly used in probate real estate transactions and must be approved by the court. Is selling probate real estate difficult? No, selling a property through probate does not have to be difficult. An experienced attorney or real estate professional can help make the process easier and can even address issues or potential delays before you make an offer. They can explain the steps involved, answer questions, and help you navigate the process. Conclusion Hopefully, this post has given you an improved understanding of the probate process and how it works when purchasing real estate. Many considerations exist from organizing paperwork to finding a qualified attorney when buying property through probate. Planning and doing your due diligence is essential for a successful real estate purchase. If there is anything that I can help you with when it comes to the probate process please don't hesitate to reach out to me. I will do my best to answer you questions and lead you in the right direction. [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.

Denise Knows Probate! Probate sometimes requires you to sell the decedent's (the person who died) home to help pay off debt. This can be both emotional and complicated as many legal and financial factors must be considered during the process. Fortunately, working with an experienced and knowledgeable probate real estate agent can make this undertaking more accessible, efficient, and significantly less stressful for all parties involved. This blog post will discuss how a professional probate real estate agent can help streamline your selling process and ensure that everything goes smoothly from start to finish. We'll also look at the advantages of enlisting their services and provide some tips for selecting the best fit for you. Ready to learn more? Read on! [Need help with probate? We offer helpful probate services and will work with you to find the plan that meets your needs. Learn more.] Psst.....I need a favor. Can you please help grow my youtube channel by subscribing? Thanks! What is a Probate Real Estate Agent? A probate real estate agent is specialized in the probate process and the sale of probate estates. The probate process requires the executor or administrator of an estate to file an inventory form of all of the decedent's assets and debts. Some of the assets may be sold to help pay the decedent's creditors and the remaining funds will go to beneficiaries and heirs. If the sale of the assets does not create enough money to pay off the decedent's creditors the executor of the estate may petition the courts to sell the real estate to aid in paying off the creditors. In North Carolina it is not required that you sell real estate but as mentioned above if the other assets do not bring in the funds needed, the house may have to be sold. A probate real estate agent can assist with selling the deceased individual's property during this process. How can they help you sell your property? A probate real estate agent can help you sell your probate property in several ways. They understand the probate process which can sometimes be handled differently than your traditional way of selling a home They will guide you through each step of the process to ensure that everything is done correctly and quickly. They have extensive experience working with probate attorneys, appraisers, financial institutions, title companies, and other professionals involved in probate sales. They ensure that all tasks related to the sale are handled on time. Probate real estate agents can help you determine a fair market value for your property so that it is sold at its highest price possible. They can also provide helpful insights into current market conditions, which can help you set the right price for your property. How to Find the Right Probate Real Estate Agent for Your Needs? Finding the right probate real estate agent for your needs is crucial to ensure a successful sale. Here are some tips for selecting the best fit: Look for an experienced and knowledgeable probate real estate agent. Ask questions about their experience with probate sales, as well as what services they offer. Find out if they have worked with other clients who have gone through similar circumstances or have similar goals as yours. Check references and reviews from past customers. This will help you get an idea of their service quality. Ensure that the agent understands the local market, laws, and regulations related to probate sales in your area. If you don't have an experienced probate real estate agent in your network, a probate attorney can recommend a real estate agent. Once you've found a few potential agents, meet with them to discuss your goals and expectations. This will give you a better idea of the level of service they can provide and whether or not they are the right fit for you. Identify a Certified Probate Real Estate Specialist (CPRES): When looking for a probate real estate agent, consider finding someone certified as a Certified Probate Real Estate Specialist (CPRES). This certification indicates that the professional has gained extensive knowledge in handling probate sales. A CPRES is a professional who can guide you through a probate property sale. These agents may be better positioned to help you navigate through any complexities of the process and make sure that it goes as smoothly as possible. What is the difference between a Traditional home sales and probate home sales? The main difference between traditional home sales and probate home sales is that in the latter, the sale must be approved by a court. This means that there are additional requirements that must be met for each step of the process. Additionally, probate estates must rely on something other than marketing tactics, such as staging or open houses, to attract buyers, as these activities may need to be approved by the court. Probate real estate agents can help you navigate these complexities and ensure everything is done according to legal requirements. Tips on Working with Your Probate Real Estate Agent: Once you've chosen a probate real estate agent, there are some tips on how to make sure the process goes as smoothly as possible: Make sure all documents related to the sale are organized and up-to-date. Be clear about your goals and expectations for the sale so that your agent can work towards achieving them. Provide feedback when necessary to ensure you are on the same page throughout the process. Trust in your agent's knowledge and expertise in probate sales. Communicate openly with your agent, so they can answer any questions or address any concerns you may have. Keep track of deadlines and remain organized throughout the entire process. Process of Selling Your Property with a Probate Real Estate Agent: Once you've chosen a probate real estate agent and discussed your goals, selling your property begins. The steps may vary depending on the situation but generally involve: Complying with court requirements for approval of any marketing activities. Marketing the property through various channels to attract potential buyers. Negotiating offers and preparing contracts once an offer is accepted. Finalizing paperwork with the buyer and closing on the sale. Your probate-selling real estate agent can help guide you through this process and ensure legal regulations are all met. Benefits of Hiring a Probate Real Estate Agent: When selling your property, there are several benefits to hiring a probate real estate agent. They can help you: Navigate the complexities of probate law and court requirements. Efficiently manage all paperwork associated with the sale. Maximize the value of your property by using marketing tactics approved by the court. Negotiate with potential buyers to ensure you get the highest price for your property. Help close the sale promptly without any legal issues or delays. Having a probate real estate agent on your side will make it much easier to sell your property quickly and at a fair price. With their expertise and knowledge of local laws, they can help you navigate any challenges and ensure everything is done to the highest standards. Conclusion: Selling property via probate can be a complex and time-consuming process, but having an experienced probate real estate agent on your side can make it much more manageable. With their expertise in handling probate sales and knowledge of local regulations, they can help you navigate any challenges and ensure the process goes as smoothly as possible. The right agent will also help you maximize the value of your property by using marketing tactics approved by the court and negotiating with buyers to get you the highest price for your home. Overall, if you are looking to sell a probate property, hiring a real estate agent knowledgeable with the probate process is highly recommended. North Carolina Probate Solutions Hello, I'm Denise Davis. The owner of North Carolina Probate Solutions and a licensed realtor with EXP Realty 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 and I understand the difficulties of dealing with death and probate. 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! 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.

Denise Knows Probate! When we die, what will happen to our assets? This is a question many do not like or want to think about. However, be it while we live or after we die, a decision must be made and if we chose not to make a decision at all the North Carolina Intestacy Laws may possibly make the decision for us. After death, one thing that is often left to decide on is real estate. Should the real estate owned by the decedent (the person who died) be retained by the heirs and beneficiaries, or should the real estate be sold to pay off the decedent's creditors and give any remaining funds to the decedent’s heirs and beneficiaries? If the decision has been made to sell the real estate to help pay off creditors then you need to become familiar with the North Carolina Special Proceeding to sell real estate. In this article we give you a break down of what the North Carolina Special Proceedings to sell real estate is and what you can expect. We will first look at what probate is and what it includes and doesn't include. Then we will explain to you what you need to know about the NC special proceeding to sell real estate. psst.....Can you please do me a favor? I need your help to grow my youtube channel. Can you please subscribe? Thank you! What Is Probate? In North Carolina, probate is the legal process that takes place after a person passes away. It involves gathering the deceased's assets and distributing them according to state law or any instructions left in the deceased's will. Probate also includes resolving debts and liabilities of the estate, as well as determining ownership of property if there are disputes between heirs or beneficiaries. The probate process is overseen by a court, and can take several months to complete. The personal representative of the estate (the person responsible for carrying out the terms of the deceased's will) must adhere to all state laws and regulations in order to ensure that everything is handled properly. When the process is completed, the remaining assets are distributed according to the will or state law. In North Carolina, probate is a complex process that can vary from case to case, so it's important to understand all of the laws and regulations involved in order to ensure a smooth transition for the deceased's estate. Professional legal help may be necessary if any complications arise during the 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.] What things are included and left out of probate in NC? Generally, probate covers all the assets of the deceased. This includes bank and brokerage accounts, vehicles, personal property, life insurance policies and any other assets that are owned solely by the deceased. Assets that are jointly owned without right of survivorship or have a designated beneficiary do not go through probate; instead they pass directly to the joint owner or beneficiary without going through the probate court. Assets held in a living trust also avoid probate, as do retirement accounts and any other assets that have been properly transferred to a trust before the owner's death. In North Carolina, it is important to understand which assets will go through probate and which ones may be able to avoid it. Does Real Estate Go Through Probate In North Carolina? In North Carolina, real estate does not have to go through probate. However, if the personal representative decides that there are not enough funds to pay the decedent's creditors the personal representative can petition the court to have the house sold. The proceeds from the sale of the house will go towards paying off creditors, taxes and distributed to beneficiaries and heirs if any funds are remaining. In the case of real estate in North Carolina, if the decision is made to sell the decedent’s real estate to aide in paying off creditors, a special legal procedure, known as “special proceedings”, may need to be followed. Without properly following the special proceedings process, the decedent’s North Carolina real estate may not be able to be sold. [Need help with probate? We offer helpful probate services and will work with you to find the plan that meets your needs. Learn more.] North Carolina Special Proceedings to sell real estate North Carolina special proceedings to sell a decedent’s real estate can be viewed as a process within a process. The first process is probate. To recap - Probate is the judicial process by which a decedent’s estate is administered in North Carolina. Probate appoints a personal representative to administer the decedent’s estate. The special proceedings process occurs within the probate process. The personal representative commences the special proceedings process by filing a petition to sell the decedent’s real estate with the Clerk of Superior Court in the county where the decedent’s real estate is located. To file petition in North Carolina use form sp550 This petition shall include: · A description of the real estate and the interest in the real estate sought to be sold; · The names, ages and addresses, if known, of the “devisees” and “heirs” of the decedent. A devisee is a person entitled to take property under the provisions of the decedent’s valid probated Will. An heir is a person entitled to take property if the decedent died intestate (without a valid Will); and · A statement that the personal representative has determined that it is in the best interest of the administration of the estate to sell the real estate. Who has to be made aware of the special proceedings? Each of the devisees and heirs of the decedent shall be notified of the special proceedings by being served with a summons and a copy of the petition. If any devisee or heir is unable to be contacted, or has an unknown address, the court shall appoint a guardian ad litem for the devisee or heir. The guardian ad litem shall represent the interests of the devisee or heir in the special proceedings. In addition, if there is a person who claims to have an interest in the real estate that is sought to be sold, the person making the adverse claim must also be notified of the special proceedings. What Happens after the petition is filed? A hearing will be held on the personal representative’s petition to sell the decedent’s real estate. If the Clerk of Superior Court approves the petition, the real estate can be sold. The Clerk of Superior Court also can decide whether the sale of the decedent’s real estate should be by public sale or private sale. NC Judicial Sale In North Carolina, a public sale is known as a “judicial sale”. A judicial sale is a form of public auction, subject to strict procedures under North Carolina law. These include: The Clerk of Superior Court shall issue an order of sale. The order of sale designates the person authorized to hold the sale (most commonly, the personal representative), directs that the property be sold at public auction to the highest bidder, and prescribes the terms of sale, specifying the amount of cash deposit, if any, to be made by the highest bidder at the sale; A notice of the public sale shall be posted in an area designated by the Clerk of Superior Court for at least 20 days immediately preceding the sale and be published once a week for at least two successive weeks in a newspaper qualified for legal advertising published in the applicable county or, if there is no such newspaper, a newspaper having general circulation in the applicable county; At the public auction, the property generally is sold to the highest bidder, subject to the “upset bid” process (as described below); The person holding the public sale is required, within five days after the date of the sale by auction, to file a report concerning the sale; An upset bid is made after the public auction and is an increased bid exceeding the reported sale price from the public auction by a minimum amount of the greater of five percent or $750.00. An upset bid is made by delivering to the Clerk of Superior Court a deposit in an amount of at least the greater of five percent of the upset bid or $750.00, by the 10th day after the filing of the report of sale; and Whether the public sale is made to the highest bidder at a public auction or pursuant to an upset bid, it must be confirmed by the Clerk of Superior Court. Upon confirmation of the public sale, and compliance by the purchaser with the terms of sale, the personal representative can deliver a deed for the decedent’s real estate to the purchaser. Minimum Upset Bid Calculation Each upset bid received must raise the advertised bid ten percent (10%) of the first one thousand dollars and five percent (5%) of the remainder (Re:NCGS 160A-269) An example of this calculation follows: Advertised Bid = $100,000 To Calculate Increase 10% of $1,000 = $100 5% of $99,000 = $4,950 Increase = $5,050 Add Increase to Advertised Bid $100,000 + $5,050 = $105,050 Minimum Upset Bid = Amount + $105,050 Upset bidder must bid a minimum of $105,050 or higher Upset bids are considered sealed bids and will be opened after the deadline time and date. Contact with bidders will be made within ten working days after the bid deadline to inform bid results and to return bid deposits as necessary. Traditional Sale of the house If the decedent’s real estate is not sold by a public sale, it can be sold by a private sale also known as a traditional sale (if so authorized by the Clerk of Superior Court). A private sale generally is how real estate is more commonly sold. The personal representative would meet with a real estate agent the real estate agent would do a comparative market analysis on the house the personal representative and the agent would discuss pricing the house would be placed on the market the personal representative have total control whether to accept an offer or not if the offer is accepted an escrow attorney would handle closing deed would be transfer the personal representative would still be held responsible for appropriately distributing funds and giving an account of the distribution to the clerk of superior court. How to avoid probate and the NC special proceedings to sell real estate The above discussion explains how the North Carolina special proceedings process can be used to sell a decedent’s real estate. However, if the decedent takes certain actions before death, it may not be necessary to rely on special proceedings for a post-death real estate sale. Specifically: 1. The decedent can provide in the decedent’s Will that the personal representative has the authority to sell the decedent’s real estate without any special proceedings. If such authority is expressly stated with proper legal language, the Clerk of Superior Court, as part of the decedent’s probate, may allow a sale to occur without special proceedings. 2. The decedent can establish ownership of the decedent’s real estate in a “non-probate” manner, such as through joint tenancy with rights of survivorship or a Living Trust. Under this approach, the decedent’s real estate can be sold after the decedent’s death without probate or special proceedings. How North Carolina Probate Solutions Can Help You? If you need help or have any questions with issue involving a decedent’s real estate, including special proceedings, or any other issue in the probate process in North Carolina, -please call North Carolina Probate Solutions at 252-902-9006. We will listen to you questions and concerns and do our best to get you the answers and help you need. [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 About The Probate Process Denying Your a Creditors Claim Against Your Loved One's Estate Understanding Ancillary Probate in North Carolina Understanding the Petition to Partition in Probate: Resolving Estate Disputes When a Loved One Dies and You Are The Executor What Does A Resident Process Agent Do In Probate In NC How to file probate in North Carolina without a lawyer Estate Sale and Probate: What You Need To Know

Denise Knows Probate! Executor of the estate At North Carolina Probate Solutions, we understand that probate can be a complicated emotional process and our goal is to help make it easier for you. Probate can take months before it actually comes to completion and if real estate is involved it is your responsibility as the executor to maintain the property during the probate period. As the executor it is important to understand the probate process and your role. In this article we will cover these things so you will be able to confidently navigate the probate process. Probate Definition First, lets give the probate definition: When a person dies, and leaves behind assets or property, their estate must go through the probate process if it is over a certain value. During this time, any outstanding debts and taxes are paid off and valid heirs and beneficiaries are identified to receive whatever is left of the estate. The court will review all documents related to the deceased's estate and give the executor the authority to oversee distribution of assets according to North Carolina probate law. When is probate necessary? When the deceased individual had real estate or personal property located in North Carolina, probate may be required. Depending on the value of their assets and type of ownership, estates valued over a certain amount must go through probate. When a will is left by the deceased, it should be submitted to the clerk of superior court for approval before any distributions are made. When a decedent (the person who died) does not have any assets, or if all of the assets are jointly owned with another individual, then probate is typically not required. How much does an estate have to be worth to go through probate? •Smaller estates with probate-qualified assets valued at less than $20,000 can avoid the formal probate proceeding. • If the surviving spouse inherits the whole estate, however, its value must not exceed $30,000 in order to avoid a formal probate process. • So, assets that qualifies as a probate asset and the value is $20,000 or greater, or for surviving spouses $30,000 or greater, then the assets must go through probate before being distributed to family and friends. • With this in mind, it is best not to distribute any assets until an inventory list along with the value has been created and the notice to creditor's period has been completed. An executor or administrator will be assigned the task of creating the inventory list and properly distributing to creditors, taxes, heirs and beneficiaries what rightly belongs to them, along with managing many other task. 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. Can an executor decide who gets what? It is not the executor's job to decide who gets what. The executor is responsible for filing the necessary documents to open probate with the clerk of superior court in North Carolina. This includes collecting important documents related to the deceased's assets, notifying creditors and heirs of the death, gathering information about debts owed by the estate and distributing any remaining assets according to state law or a will. The executor also ensures that all taxes and fees are paid before the estate is closed. The executor's responsibilities If you are the executor or administrator here is a list of some of your responsibilities and please know that some counties in North Carolina may fine you each month if some of these things are not taken care of: Getting vacant insurance on the property Having the grass/weeds cut raking up leaves and pine cones boarding up windows clearing out the house getting boxes to package items Selling and donating assets Removing junk from the property removal of abandoned vehicles Keeping squatters out animal adoption, if animals are living on property responsible for repairs and maintenance keeping the property reasonably safe Paying taxes paying mortgage, if applicable and if you are planning on selling the property you will want to keep the utilities and water on until the property is sold. Therefore, you also will have an additional utility bill to pay each month. It is also known that property that sits vacant for long period of time attracts crime. If this happens, it may make the home harder to sell for top-dollar. So we can see that being an executor of an estate, that has real estate involve, carries a lot of responsibilities. These responsibilities are especially draining on someone who lives out of State or lives several miles away from the home. Don't Forget: Your Time Is Valuable! Make Sure You Have The Time To Commit To These Things. If Not, We Can Help You! This is where North Carolina Probate Solutions step in and help ease the load. We Will Be Your Eyes On The Property and Your Feet On The Ground! We take care of the property for you. We will arrange to have the house clean and cleared out. We will arrange upkeep and maintenance of the yard, and have abandoned vehicles removed, if any. If windows and doors need to be boarded up, we can arrange it. We will arrange everything within our powers to keep squatters out and crime away. We can arrange a home inspection so you will know the true condition of the home before putting on the market. If a contractor is needed to fix things we can arrange that too. Our solutions team consist of top professionals in the area - estate sales professionals, inspectors, contractors, house clean-up crews, lawn maintenance and more to make sure the house gets the love it needs while it waits to be sold. The Ultimate Goal The ultimate goal is to keep the house safe, keep it in the best condition as possible, place it on the market and get you the highest price for it - We handle all of this, while you get back to life. Some executor may feel that their attorney is handling everything. In all actuality most attorney are only handling the legal side of things, such as legal paperwork. We handle the non-legal side of probate and our wide range of services are designed to save you time, eliminate worry and remove the burden of caring for the property. North Carolina Probate Solution's Team of Professionals Our Solution Team Consist of: Estate Sale Coordination If the home has furniture, clothes and all of the other typical things you would find in a home, our trained estate sales team will go in and appraise the items of value, organize them, prepare and price everything that's sellable. The estate sale will be handled by agents who will set up and display the items for sale, rope off private areas, interact with the people who come to the sale, conduct the transactions, and provide security. Donations After the estate sale is complete there may be items still left from the sale. If the family does not want these things we can arrange for them to be donated to local donation sites. Lawn Maintenance It is important to keep the lawn maintained and cared for. In some counties in North Carolina they will actually fine you if you do not keep the lawn maintained. Inspectors It is a good idea to find out what is wrong with he house before actually placing it on the market. There may be some things that would be better to fix before placing it on the market or you may just decided to sell the house as is at a lower price. The things that have serious damage will need to be disclosed to future buyers though. Contractors If you decide you want to have some things fixed first our team of experienced contractors can get the job done for you. House Clean-up Service Before placing any home on the market it is very important to get the house as clean as possible. Our house clean-up team will take care of this for you. After the house have been cleaned up the team will take pictures and forward them to you for your approval. Once every thing has been done it is time to place the house on the market and that is where my expertise comes in. Denise Davis, Certified Probate Real Estate Specialist/License Realtor When selling a home that has been included in probate it is very important to get a realtor who understands the probate process. There are some things that are handled differently than a traditional sale and making mistakes could cost you time and money. One way that a traditional sale differs from a probate sale is that if the house has actually been pulled into probate, the clerk of superior court has to approve the offers made. So, although you may say yes to an offer that was made on the home, it is the judge who has the final say so on it. While we are waiting on the judge to say "yay" or "nay", other offers can come in. There is also an up-bid period where someone can come in and offer a higher price than the last price. The up-bid period is usually 10 days. So although it sounds good getting higher offers it also delays the process some. To learn more about selling a house that has been included in probate you may want to read my article called "What is the NC special proceedings to sell real estate", because there are other things that happens when a house that is included in probate is sold in North Carolina. What Price Should You Sell The House For? Once the house is ready to be placed on the market your realtor will create a comparable market analysis (CMA) for you first. This report will compare similar homes close in distance that recently sold. This will give you an idea of the value of the decedent's home and what it may sell for. Once you are set on the price, the next step is to look at the best ways to market the home to get future buyer's attention quickly. As mentioned above, if an offer is made you do have to wait on the judge to give the "ok" to move forward. Now, this is only on homes that have been pulled into probate because the other assets did not have enough value to pay the creditors. If the home is not included in the probate process, which in North Carolina it does not have to be included, the home can be sold the traditional route. North Carolina Probate Solutions North Carolina Probate Solutions is here to help you every step of the way through the probate process. Whether you are selling a home that was included in probate or not, we have the expertise you need to make sure the process goes smoothly. We understand that this can be a difficult and emotional time for many people. We are here to help relieve some of the stress by bringing our knowledge, experience and expertise to the table. Let us help you navigate through the probate process confidently and smoothly. Contact us today to learn more about how we can help 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 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 About Probate Matters What Does A Resident Process Agent Do In Probate In NC North Carolina Probate Court: Where To File Probate In NC North Carolina Probate Forms 24 Things You Need to Know About Selling a House in Probate in NC

Denise Knows Probate! If you are the executor of an estate in North Carolina and you live out of state, you will be required to appoint a resident process agent. It is very important that you and the person you chose to serve in the role as a resident process agent understand the probate process. Also watch the video below for additional information on the role of the resident process agent. What is the Probate Process? Probate is a court-supervised process for administering the estate of a decedent. During probate, the executor or administrator of the estate must arrange for payment of any debts and taxes, as well as distributing assets to beneficiaries [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 Resident Process Agent A resident process agent is an individual who resides in North Carolina, who will receive and respond to legal documents on your behalf and most importantly, make you aware of the documents that they have received on your behalf. This appointed resident process agent must be approved by the probate court. Who Cannot Serve in The Role As A Resident Process Agent? Generally, North Carolina allows most resident in the State to be appointed as a resident process agent, but there are some exceptions. Individuals living in North Carolina who will not qualify to serve as a resident process agent are indicated here: According to N.C. Gen. Stat. § 28A-4-2 Persons disqualified to serve as personal representative: No person is qualified to serve as a personal representative who: (1) Is under 18 years of age; (2) Has been adjudged incompetent in a formal proceeding and remains under such disability; (3) Is a convicted felon, under the laws either of the United States or of any state or territory of the United States, or of the District of Columbia and whose citizenship has not been restored; (4) Is a nonresident of this State who has not appointed a resident agent to accept service of process in all actions or proceedings with respect to the estate, and caused such appointment to be filed with the court; or who is a resident of this State who has, subsequent to appointment as a personal representative, moved from this State without appointing such process agent; (5) Is a corporation not authorized to act as a personal representative in this State; (6) Repealed by Session Laws 1999-133, s. 1. (7) Has lost that person's rights as provided by Chapter 31A; (8) Is illiterate; (9) Is a person whom the clerk of superior court finds otherwise unsuitable; or (10) Is a person who has renounced either expressly or by implication as provided in G.S. 28A-5-1 and 28A-5-2. (11) Is a person who is employed by, acts as an agent for, serves as legal counsel for, or conducts business in any contractual capacity with a property finder, as defined in G.S. 116B-52 (11a), who has entered into an agreement subject to G.S. 116B-78 to locate the estate property defined by the agreement. (C.C.P., s. 457; Code, ss. 1377, 1378, 2162; Rev., s. 5; C.S., s. 8; 1973, c. 1329, s. 3; 1999-133, s. 1; 2011-344, s. 4; 2021-157, s. 2(a).) Appoint a resident process agent you can trust If you choose to appoint a resident process agent for your estate, it's important that you select someone who is reliable, trustworthy and does not fall into the category mentioned above. It’s also important to make sure that the resident process agent you choose is familiar with the probate laws in North Carolina, as they may need to be able to deal with legal matters related to the estate. Having appointed a resident process agent who is knowledgeable with the probate process and who can be trusted, can help provide peace of mind while ensuring that your estate is taken care of in an efficient and professional manner. Do the resident process agent have to be a family member? No, resident process agents do not need to be family members. However, if it is a family member living in North Carolina, who you can trust, is reliable and responsible, and familiar with the probate process they just may be a better choice. Although, it is usually the attorney who is working with the executor or administrator who acts in this role. You do not have to chose an attorney, but in most cases they are the ones assigned to the role by executors. How do I appoint a resident process agent? In North Carolina you will use form AOC-E-500. On this form you will include the county the decedent lived in, and the decedent's name. You will include the name and address of the chosen resident process agent, their phone number and the county they live in. The personal representor will also need to date, print and sign the form. The resident process agent will need to date, print and sign in front of a notary. This form will need to be turned in to your attorney or to the Clerk of Superior Court in the county that the decedent lived. If the decedent lived out of State, then you may file it in the county where the assets are located. Understand Your Role and Responsibilities It is important for the executor or administrator to understand their role and responsibilities in probate. If things are not carried out correctly you could be legally and financially responsible. It's even more important that the person you chose to be the resident process agent understand their responsibilities so bad decisions can be avoided which would fall back on you if made. Final Words I hope this information has helped you to have a better understanding of a resident process agent in North Carolina. If you are in the process of filing probate and you live outside of North Carolina we are here to serve you. If you find yourself having more questions about the probate process in North Carolina or need a resident process agent 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 and legal advice. Learn More About Probate Where To File Probate In NC North Carolina Probate Forms What To Expect When Going Through The Probate Process In North Carolina

Denise Knows Probate! How to File Probate Without a Lawyer There is no doubt that qualified lawyers in North Carolina can help their clients solve legal problems. However, unfortunately, lawyers are often expensive, and people do not want to pay for a lawyer’s services if they can resolve the legal issue by themselves. One legal issue that people in North Carolina may be able to resolve without a lawyer is probate. This article describes how to file probate in North Carolina without a lawyer. What Is Probate? Probate is a legal process that arises after a person’s death. Probate is supervised by a court. Probate serves three basic functions: 1. To validate the decedent’s Will (the person who died), if any; 2. To appoint a person to manage the decedent’s estate. If this person is designated under the decedent’s Will, this person is known as an executor. If the decedent did not have a Will, this person is known as an administrator; and 3. To distribute the decedent’s assets to the decedent’s creditors and beneficiaries. [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.] NC Probate Forms In North Carolina, probate begins with the filing of Form AOC-E-201, “Application For Probate and Letters”, with the Clerk of Superior Court in the county in which the decedent was domiciled (residing) at the time of the decedent’s death. [You can find some of the most used forms here: North Carolina Probate Forms] The Clerk of Superior Court generally acts as the equivalent of a “probate judge” to supervise the probate. Form AOC-E-201 is generally filed by the person applying to be appointed as the executor and form AOC-E202 for the person applying to be an administrator (Both are also known as the “personal representative”) of the decedent’s estate. Form AOC-E-201 requests various information, including the decedent's name, address, county of domicile, date of death, place of death. The name and address of the person applying to be appointed as the personal representative, the names of the persons entitled to share in the decedent’s estate (and their mailing addresses, ages, and relationships to the decedent), and a preliminary inventory of the decedent’s assets. With Form AOC-E-201, the following also should be filed with the applicable Clerk of Superior Court: · The decedent’s original valid Will and amendments, if any. For North Carolina probate purposes, a valid Will generally is the latest Will (including any amendments) signed by the decedent and attested by at least two competent witnesses; · A certified copy of the death certificate for the decedent or other evidence of the death of the decedent; · Form AOC-E-650, “Estates Action Cover Sheet”. Form AOC-E-650 (which serves as the first page of any probate filing) includes information about the decedent, the personal representative, and all persons entitled to share in the decedent’s estate; · Form AOC-E-400, “Oath/Affirmation”. Form AOC-E-400 requires the personal representative to make an oath to faithfully and honestly carry out the personal representative’s duties; · Form AOC-E-405, “Notice to Beneficiary”. Form AOC-E-405 (which is generally prepared by the personal representative and mailed out by the Clerk of Superior Court) provides notice to beneficiaries that they are beneficiaries of the decedent’s estate; · If the personal representative is not a North Carolina resident, Form AOC-E-500, “Appointment of Resident Process Agent”, also must be filed. Form AOC-E-500 appoints a North Carolina resident agent to receive service of process; Is a bond required? If the personal representative live outside of North Carolina they must post a bond. Residents of North Carolina generally are not required to post a bond, unless the decedent’s Will expressly states otherwise. If the personal representative is a non-resident of North Carolina they can appoint a North Carolina resident process agent to oversee the decedent's estate. Is there a probate fee in North Carolina? Probate filing costs, generally equal to $120.00 to start the filing process. As of 2020, the fee sits at 40 cents for every $100 worth of assets, with a maximum possible amount capped at $6,000. Those numbers may change over time as court fees for probate are periodically updated, however. What happens after filing for probate? If all items are properly filed, the Clerk of Superior Court will issue “Certificate of Probate” and “Order Authorizing Issuance of Letters”. The “Certificate of Probate” validates the decedent’s Will, if any, for probate. The “Order Authorizing Issuance of Letters” appoints the personal representative to manage the decedent’s estate; it is the basis for the issuance of “Letters” to the personal representative, which stands as evidence and gives authority to the personal representative to manage the decedent’s estate. Once appointed by the Clerk of Superior Court, the personal representative must perform various work in connection with the decedent’s estate. The role of the personal representative The personal representative must determine and collect the assets of the decedent. If these assets are producing an income stream, the personal representative will need to open an estate bank account to place the money in. The personal representative must determine and pay the valid debts of the decedent. As part of this work, the personal representative is required to publish a notice of the probate in a local newspaper, once per week for four weeks. For North Carolina probate purposes, creditors will need to file a claim against the decedent’s estate within three months after the date of the first publication of the creditors’ notice. As part of paying the valid debts of the decedent, the personal representative must file applicable Federal and state income tax returns and any applicable Federal estate return, and pay applicable Federal and state income tax liabilities and any applicable Federal estate tax liability. It is highly advised that you seek the help of an accountant or tax professional who is experienced in probate to help you figure out the amounts owed. After all valid debts, including taxes, of the decedent have been paid, the personal representative must distribute the remaining assets to the beneficiaries of the decedent’s estate. After all assets of the decedent’s estate have been distributed, the personal representative must file a final accounting with the Clerk of Superior Court. The final accounting describes all transactions that the personal representative has completed on behalf of the decedent’s estate. With the filing of the final accounting, the personal representative generally will request that the probate be closed. How long will probate take? A typical probate in North Carolina will take approximately six months to a year to complete. An experienced probate lawyer definitely can help probate an estate in North Carolina. However, there is no requirement that a lawyer be used, and, except in complex probate situations or where there is adverse litigation, it may not be necessary to retain a lawyer. Hopefully, by following the discussion in this article, you are now better prepared to file probate in North Carolina without a lawyer. How North Carolina Probate Solutions Can Help. If you want to avoid expensive attorney fees but you are feeling uncertain about filing probate on your own we can help you to get started. We will first listen to your situation We will show you the forms you need to submit to the clerk of court We will provide assistance in filling out the forms We provide you a probate timeline. We will go over it with you to help you better understand where you are in the process and what to expect next. If you live outside of the state of North Carolina and do not have someone in the state to serve as your resident process agent we can help you. We will help get the house prepared to be placed on the market We will perform a market analysis so you will know the value of the home and how to correctly price it. We partner with clean-out services, estate sale companies, junk removal companies that can get the house clean and ready to sell You can chose which option is best for you, whether it's a quick cash sale or listing it on the market for the highest price possible. We will do our best to make this process a smooth process for you. If for some reason your situation is too complex we will be honest and tell you that in your case it is best to seek the assistance of an attorney. Going through probate can be a stressful task, however we are here to help remove some of that stress from you. Speak with me, just to see if I can help you. You are not under any obligations to use my services, if you do not feel I am a good fit for you. Please feel free to give me a call 252-902-9006. I may be on the line with another customer when you call so if I do not answer please leave a message and I promise to return your 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.

Denise Knows Probate! An Estate Sale is a service that may be necessary in the probate process. The probate process is a legal process that ensures the decedent's debts are paid and assets are distributed according to the will or state law. First, a few terms to cover Decedent - The person who died Estate Sale - a method of selling all (or nearly all) of the contents of a home Executor - The person named in a Will who now has the authority to sell the decedent's property Administrator - The person authorized by the court to sell the decedent's property Assets - property owned by a person or company, regarded as having value and may be sold. The funds will be used to payoff creditors, taxes, beneficiaries and heirs. [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.] Estate Sales Estate sales can be used when a decedent's assets need to be sold in order to generate enough funds to pay creditors. Estate sales involve the sale of an individual's personal property, such as furniture, artwork, jewelry, and automobiles. In North Carolina, real estate does not have to be sold unless the other assets do not generate enough funds to payoff creditors. Once everything has been sold, the proceeds from these items will be deposited in an estate account and used towards paying any outstanding debts and ensuring proper distribution of the estate according to state law. Estate Sales require organization, attention to detail, and knowledge of local laws and regulations; therefore it is wise for the executor or administrators of an Estate Sale to hire a professional Estate Sale company who specializes in this service. The Estate Sale Company should have experience. Estate Sales companies should have knowledge of Estate Law and local regulations. They should have the experience to ensure that the Estate Sale is conducted smoothly and efficiently, helping to quickly distribute assets according to the decedent's wishes. They should also have a team of experienced Estate Sale assistants who can handle the process in an efficient and organized manner. By hiring an experienced Estate Sale company, executors or administrators of an estate are more likely to get the maximum return for the assets in order to pay creditors and beneficiaries in accordance with state law. Estate Sale Companies are invaluable assets to Probate Attorneys, Executors, Administrators, and Estate beneficiaries alike. Who is an estate sale for? Estate Sales are for anyone who needs to quickly sell assets in order to pay creditors and distribute assets according to the decedent's wishes. Estate Sale Companies can provide valuable help in getting this done. Does Everything have to be sold? No, Estate Sales typically involve selling only those items that have significant value. There is no need to sell every single item in an Estate Sale. In fact, Estate Liquidators and Estate Sale Companies often leave certain items behind as keepsakes or to be donated to a charity of the executor's choice. It is important to remember that Estate Sales are not intended to make a profit, but rather to generate enough funds from the sale of assets in order to pay creditors and other obligations associated with Probate. Therefore, it is important to work with your Estate Service provider so you can make sure that you are getting the most out of your Estate Sale while still honoring the wishes of the deceased. What is the difference between an estate sale and a garage sale? An Estate Sale is different from a garage sale in that Estate Sales are typically organized by Estate Liquidators or Estate Sale Companies with experience in selling items. They also often involve more expensive and valuable items than you would typically find at a garage sale. Estate Sales also take place on a much larger scale, often over the course of several days. Estate Sales may include furniture, artwork, collectibles, antiques and other personal property owned by the decedent. The goal of an Estate Sale is to maximize revenue for Probate purposes while honoring the wishes of the deceased. A Garage Sale, on the other hand, is typically held by individual homeowners and involves household items such as clothes, toys, books and smaller electronics that are no longer needed. Garage sales are often held to make a profit, while Estate Sales are intended to generate enough funds to cover Estate expenses. Ultimately, Estate Sales and Garage Sales serve different purposes and require different levels of organization and expertise. Who pays for the estate sale? Typically, Estate Sales are paid for by the Estate of the deceased. Estate Liquidators and Estate Sale Companies typically charge a commission on items sold, as well as other fees associated with organizing Estate Sales. It is important to discuss these costs with your Estate Service provider prior to beginning the Estate Sale process so you can make sure you understand all of the costs involved. In some cases, proceeds from an Estate Sale may be able to cover all or most of these expenses. Does an estate sale need court approval? In some cases, Estate Sales may require court approval depending on the Estate and Probate laws of your state. It is important to discuss these requirements with your Estate Service provider prior to beginning the Estate Sale process so you can make sure all necessary steps are taken in order to comply with local laws. What happens if the estate sale does not generate enough funds to pay creditors? If an Estate Sale does not generate enough funds to cover Estate expenses, the Estate may be forced to sell additional assets such as real estate to pay the deceased debts. Every estate sale is unique and depends on the individual needs of the Estate or Estate Trustee. The Probate Process The probate process can be a long tedious process involving different steps to take. If you are in North Carolina, one way to stay ahead of things is to stay organized and on track with the probate timeline. Once you have completed selling the assets, with the money in the estate account you can now begin to pay off creditors and distribute any remaining funds to the beneficiaries and heirs. Once all creditors and beneficiaries have been paid , the Estate can be closed and Probate Court can release its control of the Estate. Final Words I hope this information was helpful and provided insight into how Estate Sales work. If you have additional questions, please do not hesitate to contact me. It would be my pleasure to put you in contact with an Estate Liquidator or Estate Sale Company who has experience in conducting Estate Sales in your area. Thank 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. Other Probate Articles That You May Enjoy Can I sell my inherited house before probate is completed in NC? Where To File Probate In NC North Carolina Probate Forms 24 Things You Need to Know About Selling a House in Probate in NC What To Expect When Going Through The Probate Process In North Carolina

Denise Knows Probate! Here you will find a list of the clerk of superior court offices which is where probate is held in NC. Alamance County Superior Court District 15A 1 Court Square Graham, NC27253 Maps and directions (336) 570-5200 Alexander County Superior Court District 22A 29 W. Main Ave. Taylorsville, NC28681 Maps and directions (828) 635-3113 Alleghany County Superior Court District 23 12 N Main St Sparta, NC28675 Maps and directions (336) 372-3900 Anson County Courthouse Superior Court District 16A 114 N Greene St Wadesboro, NC28170 Maps and directions (704) 994-3800 Ashe County Courthouse Superior Court District 16A 150 Government Circle Jefferson, NC28640 Maps and directions (336) 219-1400 Avery County Courthouse Superior Court District 24 200 Montezuma St Newland, NC28657 Maps and directions (828) 737-6700 Beaufort County Courthouse Superior Court District 2 112 W Second St Washington, NC27889 Maps and directions (252) 940-4000 Bertie County Courthouse Superior Court District 6B 108 Dundee St Windsor, NC27983 Maps and directions (252) 794-6800 Bladen County Courthouse Superior Court District 13A 166 E. Broad St. Elizabethtown, NC28337 Maps and directions (910) 872-7200 Brunswick County Courthouse Superior Court District 13B 310 Government Center Drive, NE Bolivia, NC28422 Maps and directions (910) 253-3900 Buncombe County Courthouse Superior Court District 28 60 Court Plaza Asheville, NC28801 Maps and directions (828) 259-3400 Burke County Courthouse Superior Court District 25A 201 South Green St Morganton, NC28655 Maps and directions (828) 433-3200 Cabarrus County Courthouse Superior Court District 19A 77 Union St South Concord, NC28025 Maps and directions (704) 262-5500 Caldwell County Courthouse Superior Court District 25A 216 Main St NW Lenoir, NC28645 Maps and directions (828) 759-3503 Camden County Courthouse Superior Court District 1 117 NC Hwy 343 North Camden, NC27921 Maps and directions (252) 336-4000 Carteret County Courthouse Superior Court District 3B 300 Courthouse Square Beaufort, NC28516 Maps and directions (252) 504-4400 Caswell County Courthouse Superior Court District 17A 139 East Church St Yanceyville, NC27379 Maps and directions (336) 459-4000 Catawba County Courthouse Superior Court District 25B 100 Government Drive Newton, NC28658 Maps and directions (828) 695-6100 Chatham County Courthouse Superior Court District 15B 40 E Chatham Street Pittsboro, NC27312 Maps and directions (919) 545-3500 Cherokee County Courthouse Superior Court District 30A 75 Peachtree St Murphy, NC28906 Maps and directions (828) 835-7740 Chowan County Courthouse Superior Court District 1 101 S Broad St Edenton, NC27932 Maps and directions (252) 368-5000 Clay County Courthouse Superior Court District 30A 261 Courthouse Dr. Suite 1 Hayesville, NC28904 Maps and directions (828) 389-2300 Cleveland County Courthouse Superior Court District 27B 100 Justice Place Shelby, NC28150 Maps and directions (704) 476-7800 Columbus County Courthouse Superior Court District 13A 113 Courthouse Square Whiteville, NC28472 Maps and directions (910) 641-4400 Craven County Courthouse Superior Court District 3B 302 Broad St New Bern, NC28560 Maps and directions (252) 639-3000 Cumberland County Courthouse Superior Court District 12 117 Dick St, Fayetteville, NC 28301 Maps and directions (910) 475-3000 Currituck County Courthouse Superior Court District 1 2801 Caratoke Hwy Currituck, NC27929 Maps and directions (252) 232-6200 Dare County Justice Center Superior Court District 1 962 Marshall Collins Drive Manteo, NC27954 Maps and directions (252) 475-5200 Davidson County Courthouse Superior Court District 22B 110 West Center St Lexington, NC27292 Maps and directions (336) 242-6701 Davie County Courthouse Superior Court District 22B 140 South Main St Mocksville, NC27028 Maps and directions (336) 936-3000 Duplin County Courthouse Superior Court District 4 112 Duplin St. Kenansville, NC28349 Maps and directions (910) 275-7000 Durham County Courthouse Superior Court District 14 510 South Dillard St Durham, NC27701 Maps and directions (919) 808-3000 Edgecombe County Courthouse Superior Court District 7BC 301 St Andrews St. Tarboro, NC27886 Maps and directions (252) 824-3200 Forsyth County Courthouse Superior Court District 21 200 N Main St. Winston-Salem, NC27101 Maps and directions (336) 779-6300 Franklin County Courthouse Superior Court District 9 102 S Main St. Louisburg, NC27549 Maps and directions (919) 497-4200 Gaston County Courthouse Superior Court District 27A 325 Dr. Martin Luther King Jr. Way Suite 1004 Gastonia, NC28052 Maps and directions (704) 852-3100 Gates County Courthouse Superior Court District 1 202 Court St. Gatesville, NC27938 Maps and directions (252) 357-1365 Graham County Courthouse Superior Court District 30A 12 Court St. Robbinsville, NC28771 Maps and directions (828) 474-7000 Granville County Courthouse Superior Court District 9 101 Main St. Oxford, NC27565 Maps and directions (919) 690-4800 Greene County Courthouse Superior Court District 8A 301 N Greene St. Snow Hill, NC28580 Maps and directions (252) 747-6200 Guilford County Courthouse Superior Court District 18 201 South Eugene St Greensboro, NC27401 Maps and directions (336) 412-7300 Halifax County Courthouse Superior Court District 6A 357 Ferrell Lane Halifax, NC27839 Maps and directions (252) 593-3000 Harnett County Courthouse Superior Court District 11A 301 W. Cornelius Harnett Blvd Suite 100 Lillington, NC27546 Maps and directions (910) 814-4400 Haywood County Courthouse Superior Court District 30B 285 N Main St Suite 1500 Waynesville, NC28786 Maps and directions (828) 454-6501 Henderson County Courthouse Superior Court District 29B 200 N Grove St Suite 163 Hendersonville, NC28792 Maps and directions (828) 694-4100 Hertford County Courthouse Superior Court District 6B 119 Justice Drive Winton, NC27986 Maps and directions (252) 358-7100 Hoke County Courthouse Superior Court District 19D 304 N Main St Raeford, NC28376 Maps and directions (910) 878-4100 Hyde County Courthouse Superior Court District 2 40 Oyster Creek Road Swan Quarter, NC27885 Maps and directions (252) 926-4700 Iredell County Hall of Justice Superior Court District 22A 226 Stockton St Statesville, NC28677 Maps and directions (704) 832-6600 Jackson County Courthouse Superior Court District 30B 401 Grindstaff Cove Rd Sylva, NC28779 Maps and directions (828) 631-6400 Johnston County Courthouse Superior Court District 11B 207 E Johnston St Smithfield, NC27577 Maps and directions (919) 209-5400 Jones County Courthouse Superior Court District 4 101 Market St Trenton, NC28585 Maps and directions (252) 448-6220 Lee County Courthouse Superior Court District 11A 1400 S Horner Blvd Sanford, NC27330 Maps and directions (919) 718-6300 Lenoir County Courthouse Superior Court District 8A 130 S Queen St Kinston, NC28501 Maps and directions (252) 520-5300 Lincoln County Courthouse Superior Court District 27B 120 Justice Drive Lincolnton, NC28092 Maps and directions 704) 742-7800 Macon County Courthouse Superior Court District 30A 5 W Main St Franklin, NC28734 Maps and directions (828) 349-7200 Madison County Courthouse Superior Court District 24 2 N Main St Marshall, NC28753 Maps and directions (828) 649-2200 Martin County Governmental Center Superior Court District 2 305 E Main St Williamston, NC27892 Maps and directions (252) 809-5100 McDowell County Courthouse Superior Court District 29A 21 S Main St Marion, NC28752 Maps and directions (828) 655-4100 Mecklenburg County Courthouse Superior Court District 26 832 East Fourth St Charlotte, NC28202 Maps and directions (704) 686-0400 Mitchell County Courthouse Superior Court District 24 328 Longview Dr Bakersville, NC28705 Maps and directions (828) 688-5100 Montgomery County Courthouse Superior Court District 20A 108 E Main St Troy, NC27371 Maps and directions (910) 571-3700 Moore County Courts Facility Building Superior Court District 19D 102 Monroe St Carthage, NC28327 Maps and directions (910) 722-5000 Nash County Courthouse Superior Court District 7A 234 W Washington St Nashville, NC27856 Maps and directions (252) 220-3000 New Hanover County Courthouse Superior Court District 5 316 Princess St Wilmington, NC28401 Maps and directions (910) 772-6600 Northampton County Courthouse Superior Court District 6B 102 West Jefferson St Jackson, NC27845 Maps and directions (252) 574-3100 Onslow County Courthouse Superior Court District 4 625 Court Street Jacksonville, NC28540 Maps and directions (910) 478-3600 Orange County Courthouse Superior Court District 15B 106 E Margaret Lane Hillsborough, NC27278 Maps and directions (919) 644-4500 Pamlico County Courthouse Superior Court District 3B 202 Main St Bayboro, NC28515 Maps and directions (252) 745-6600 Pasquotank County Courthouse Superior Court District 1 206 E Main St Elizabeth City, NC27909 Maps and directions (252) 331-4600 Pender County Courthouse Superior Court District 5 100 S Wright St Burgaw, NC28425 Maps and directions (910) 663-3900 Perquimans County Courthouse Superior Court District 1 128 N Church St Hertford, NC27944 Maps and directions (252) 404-5000 Person County Courthouse Superior Court District 9 105 S Main St Roxboro, NC27573 Maps and directions (336) 503-5200 Pitt County Courthouse Superior Court District 3A 100 W Third St Greenville, NC27834 Maps and directions (252) 695-7100 Polk County Courthouse Superior Court District 29B One Courthouse Square Columbus, NC28722 Maps and directions (828) 894-4900 Randolph County Courthouse Superior Court District 19B 176 East Salisbury St Asheboro, NC27203 Maps and directions (336) 328-3000 Richmond County Judicial Center Superior Court District 16A 105 W Franklin St Rockingham, NC28379 Maps and directions (910) 419-7400 Robeson County Courthouse Superior Court District 16B 500 North Elm St Room 101 Lumberton, NC28359 Maps and directions (910) 671-3000 Rockingham County Judicial Center Superior Court District 17A 170 Hwy 65 Reidsville, NC27320 Maps and directions (336) 634-6000 Rowan County Courthouse Superior Court District 19C 210 N Main St Salisbury, NC28144 Maps and directions Rutherford County Courthouse Superior Court District 29A 229 N. Main St. Suite 203 Rutherfordton, NC28139 Maps and directions (828) 288-6100 Sampson County Courthouse Superior Court District 4 101 E. Main St Clinton, NC28328 Maps and directions (910) 596-6600 Scotland County Courthouse Superior Court District 16A 212 Biggs St Laurinburg, NC28352 Maps and directions (910) 266-4400 Stanly County Courthouse Superior Court District 20A 201 S Second St Albemarle, NC28002 Maps and directions (704) 986-7000 Stokes County Courthouse Superior Court District 17B Hwy 89 - 1012 Main St Danbury, NC27016 Maps and directions (336) 593-4400 Surry County Courthouse Superior Court District 17B 201 E. Kapp St Dobson, NC27017 Maps and directions (336) 386-3700 Swain County Courthouse Superior Court District 30A 101 Mitchell St Bryson City, NC28713 Maps and directions (828) 488-7400 Transylvania County Courthouse Superior Court District 29B 7 East Main St Brevard, NC28712 Maps and directions (828) 885-3000 Tyrrell County Courthouse Superior Court District 2 403 Main St Columbia, NC27925 Maps and directions (252) 766-6510 Union County Judicial Center Superior Court District 20B 400 North Main St Monroe, NC28112 Maps and directions (704) 698-3100 Vance County Courthouse Superior Court District 9 156 Church St Suite 101 Henderson, NC27536 Maps and directions (252) 430-5100 Wake County Courthouse Superior Court District 10 316 Fayetteville St. Mall Raleigh, NC27601 Maps and directions (919) 792-4000 Warren County Courthouse Superior Court District 9 109 S Main St Warrenton, NC27589 Maps and directions (252) 257-6300 Washington County Courthouse Superior Court District 2 120 Adams St Plymouth, NC27962 Maps and directions (252) 791-4000 Watauga County Courthouse Superior Court District 24 842 W King St Suite 13 Boone, NC 28607 Maps and directions (828) 268-6600 Wayne County Courthouse Superior Court District 8B 224 E. Walnut St Room 230 Goldsboro, NC27530 Maps and directions (919) 722-6100 Wilkes County Courthouse Superior Court District 23 500 Courthouse Dr Wilkesboro, NC28697 Maps and directions (336) 651-4400 Wilson County Courthouse Superior Court District 7BC 115 E Nash St Wilson, NC27894 Maps and directions (252) 206-3000 Yadkin County Courthouse Superior Court District 23 101 S State St Yadkinville, NC27055 Maps and directions (336) 679-3600 Yancey County Courthouse Superior Court District 24 110 Towne Square Room 5 Burnsville, NC28714 Maps and directions (828) 678-5700 For more information contact me. Denise Davis 252-902-9006 Realtor, EXP Realty Certified Probate Real Estate Specialist

Denise Knows Probate! All You Need to Know About Probate in NC When you think of probate, think of it as a way in which the court distributes an estate to the rightful heirs. This is a legal process supervised by the court that gives someone, in most cases the surviving spouse or close family member, authority to manage the deceased’s assets, taxes, and debts. [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.] North Carolina does not necessarily require probate after death. This will depend on what the deceased owned and the property value. Every real estate owner is strongly advised to create a Will or a Living Trust. Even though that may sometimes feel a bit daunting, it helps make life occurrence a bit easier for your loved ones. In this article we will refer to the person who died as the decedent. What is probate? Probate is a court process for authenticating the decedent's Will and approving the Executor so they can start distributing the decedent's property and belongings. Probate requires that the decedent's assets are identified along with the value of each asset. These assets may need to be sold if the decedent had creditors who needs to be paid or if the decedent's estate need to pay taxes. Probate can also happen in a situation where you do not have a Will. Even though the process will still be completed, it is a bit more complicated. Since there are no documents that reveal the decedent's wishes, the courts would have to use their best judgment and make the decisions for you. One thing you must remember is that each state has its way of handling probate. For instance, the North Carolina probate process is handled by the Clerk of the Superior Court. How the probate process works The probate process in North Carolina starts at the Clerk of Superior Court in the county where the decedent lived. The rightful person makes an application to the clerk of superior court office. This can be the executor/executrix named in the Will or if there is no Will, someone who qualifies to be an administrator. There are some important documents that must be included in the application: The Will if there is one Certified copy of the deceased’s death certificate Preliminary inventory of the estate The executors and administrators are also known as the estate’s personal representatives and they must take an oath of office stating that they will execute their mandate faithfully. A court-appointed executor receives letters testamentary while administrators get letters of administration. These documents are authoritative in regard to handling assets of the estate. What you must carry in the first probate hearing The following must be availed when conducting the first probate hearing: Last Will (if any is available) Certified copy of death certificate Names and addresses of heirs List of known creditors Do I need legal services for probate? Not everyone is well-versed in how probate works. That is why you may need probate lawyers or a probate tax professionals to assist with the process. The legal professionals understand existing probate laws in North Carolina that protect the family and loved ones’ assets. Although getting a lawyer experienced in probate is highly advised there may be some people who prefer to file on their own without the assistance of an attorney. If this is you, I would suggest you read "How to file probate in North Carolina without a lawyer" to give you some ideas on getting started. At NC Probate Solutions, we handle the non-legal side of probate and assist in selling the home when needed. Get in touch with me and I will be glad to help you out. [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.

Denise Knows Probate! Can I sell my inherited house before probate is completed in NC? If the home you inherited has been included in probate, I'm sure the question "Can I sell my inherited house before probate is completed?" has come to mind. It is possible to sell an inherited house before probate is completed; however, there are some important legal implications to consider. You should be aware that this can be a complex and risky process, with different laws and regulations in each state. In North Carolina, there are specific guidelines that must be followed to ensure the validity of the sale. This article will provide a comprehensive overview of selling an inherited house in North Carolina before probate is complete. We will discuss the legal implications and steps to take, as well as potential benefits or risks associated with this action. Additionally, we will advise executors on how best to proceed. So if you're looking to sell an inherited house before probate is complete in North Carolina, let's dive in! [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.] psst.....Can you please do me a favor? I need your help to grow my youtube channel. Can you please subscribe? Thank you! Denise Knows Probate! Legal implications of selling an inherited house in NC When considering selling an inherited house before probate is completed in NC, it's essential to understand the state’s laws and regulations. The house should continue to receive proper care during this period; for instance, utility bills and real estate taxes need to remain current. However, according to North Carolina law, heirs of an estate can sell a property without going through probate if all the heirs agree and sign off on the sale. This process should be done with the assistance of a real estate attorney to ensure that all legal requirements are met. The important thing to remember is that even if the house is included in a will, the will itself must still go through probate. Many people tend to think that because property or assets were left to them in a will that it immediately becomes their after the death of their loved one. But this is not always true. The house does automatically transfer to the heirs or the beneficiary upon the death of the decedent, however, If the decedent had debt that needs to be paid and their are no funds to pay the decedent's creditors, the courts may demand that the house and all assets be sold in order to pay off the creditors. If there are any funds remaining after the creditors has been paid, those funds will pass to the beneficiaries and heirs. What Types of Property Can Be Inherited? From cars to clothes, anything can be inherited - and it's all legally classified as property. Estate Plans help determine how personal belongings, assets, or any other type of possession will be divided up when the time comes. People usually think of real estate when it comes to selling inherited property. But inherited property can be more than just real estate. Other forms of inheritance property include: • Bank Accounts: Any accounts held solely under the deceased's name can be inherited. This includes retirement plans, and bank accounts. • Investments: Anything from stocks and bonds to mutual funds, annuities, and other insurance policies are classified as investments. • Personal Belongings: Commonly referred to as personal property, these items include furniture, jewelry, artwork, collectibles, etc. Are Siblings Legally Allowed to Force the Sale of Inherited Property? If multiple people own a piece of real estate, the first step is to decide whether they should buy each other out or sell the property. If they cannot agree, they will need to get legal help and file a petition in court that forces the sale of the property. This way, all beneficiaries can get what they are entitled to. This process is called a petition to partition. If the court rules to sell the house, it will be put on the market and sold for its appraised value. Subsequently, any money earned from this sale will be distributed amongst all beneficiaries - even if one heir is opposed to it. However, if creditors or taxes need to be paid, monies will first be distributed to them and then to the heirs. Do I Have to Pay Tax If I Sell My Inherited Property? If you sell an inherited property and make money from the sale, you will have to pay taxes. This is called a capital gains tax. The tax you will have to pay depends on how much money you make from the sale and your income bracket. This property has likely gone up in value since it was first bought by the decedent. This means that the original purchase price is very important. As a beneficiary of this asset, you will not have to pay taxes on the total amount the home is now worth. The IRS will do a "stepped-up" basis calculation to determine how much capital gains tax must be paid. If you sell an inherited property within one year of inheriting it, you will be taxed at the short-term rate, which ranges from 10% to 37%. If you own the property for more than one year before selling it, your profits will be taxed at the lower long-term capital gains rate, which ranges from 0% to 20%. Are There Ways to Prevent Paying Capital Gains Tax When Selling an Inherited Property? If you are selling a property that you inherited, and you do not want to pay capital gains tax, you can avoid it by making it your primary residence. This means living in the home for two years. After two years, you will not have to pay capital gains tax on the sale of the property. Contact North Carolina Probate Solutions Today! If you are looking to sell an inherited property before probate is completed, it can take a lot of work. It's essential to seek the help of a qualified real estate expert and lawyer to navigate the legal implications and regulations of North Carolina state law. At North Carolina Probate Solutions, we have years of experience helping families through this process. We understand how difficult it can be emotionally and legally, which is why we strive to provide personalized service that puts your needs first. Contact me today for more information on how I can help you sell an inherited property in North Carolina. I am here to make sure everything goes smoothly, so you don't have anything to worry about! [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. To learn more about the probate process How to Avoid Probate in North Carolina In NC why do you have to go through probate if there is a will? North Carolina Probate Forms Where To File Probate In NC

Denise Knows Probate! Do you need to know how to avoid probate in North Carolina? As a probate executor, administrator, or personal representative appointed by the court, it is important that you have an understanding of the options available for transferring assets upon death. Probate can be tedious and time consuming but it may not always be necessary. With the right knowledge and documents in place, avoiding probate could potentially save these representatives considerable time and money. Read on to discover more about estate planning strategies that provide new ways of making sure that your loved one's wishes are honored while saving the personal representatives from costly and lengthy probate proceedings. [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.] Ways to Avoid Probate in North Carolina So, how exactly do you protect your beneficiaries or heirs from undergoing the probate process in North Carolina after your death? Well, keep on reading to find out. 1. Always Name a Beneficiary to All Your Accounts Most accounts especially retirement and life insurance accounts give you the chance to name a beneficiary. In such a case, your assets or the funds in your account are fully paid to the beneficiary without the involvement of the court. More importantly, since such funds are not considered part of your estate, they do not have to go through the probate process. Other financial accounts, such as brokerage accounts and stocks, have a ‘transfer on death’ clause. The ownership of the account is simply transferred to the designated beneficiary. And since the transfer occurs upon death, these assets do not have to go to probate. 2. Joint Ownership When you jointly own property with someone else (your spouse), maybe, the ownership includes the right of survivorship. In that, if one owner dies, the ownership of the property is automatically transferred to the other surviving owner. In such a case, there will be no need to go through a probate process for the transfer of ownership of the property to occur. However, there will be some paperwork to show the property is solely held by the surviving owner. Essentially, North Carolina laws avails two types of joint ownership, including; Joint Tenancy: When one of the joint tenants dies, the property is automatically passed on to the surviving owner. There’s no need for probate. This kind of joint ownership works well, especially when couples acquire vehicles, real estate, bank accounts or other valuable assets together. Tenancy by the Entirety: It’s another form of joint ownership available for residents in North Carolina. While it’s very much like joint tenancy, it’s only allowed for married couples. Also, tenancy by the entirety in North Carolina only applies to real estate. 3. Living a Trust Another effective way to avoid probate in North Carolina is by creating a trust. This works for almost all assets you own. It could be your vehicles, bank accounts, real estate among other valuable assets. Under a living trust, your assets automatically become owned by the trust. More importantly, since it’s a living trust, you will continue to enjoy and use those assets. Your assets will only be transferred to your trustees after your death. The best part is that everything will be done according to the specific terms you wrote down in the trust. And even better, your assets and beneficiaries won’t have to go through the probate process. Don’t Know Where to Start? Let’s Talk Well, there you have it! The above tips will help you avoid the probate process in North Carolina. But it’s not as easy as it sounds for everyone. Sometimes, we all need someone to help us through the process, and that’s okay. So, if you don’t know where to start, have questions, or just need a probate real estate agent to consult with during this process, I can provide additional guidance. So, don’t hesitate to give me a call 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, guidance or advice. To learn more about the probate process Denying Your a Creditors Claim Against Your Loved One's Estate In NC why do you have to go through probate if there is a will? 6 facts about the Affidavit for Collection of Personal Property in NC

Denise Knows Probate! Probate is the legal process whereby the assets of a deceased person are distributed to their beneficiaries or heirs after the decedent's death. To settle an estate, in North Carolina the county probate court appoints a personal representative to manage the estate's assets and liabilities, if the decedent did not appoint an executor in his will to do so. When settling an estate, residents of North Carolina have options outside the traditional probate process. The Affidavit for Collection of Personal Property of the Decedent (Collection by Affidavit) is one simplified procedure applicable solely to small estates. [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 The Affidavit for Collection of Personal Property? According to the North Carolina statute § 28A-25-1, a heir can settle a deceased person's estate without going through probate by applying for the Affidavit for Collection of Personal Property of the Decedent (form AOC-E-203B). The affidavit for collecting personal property is a two-page document, and the filing fee is $120. Whether the deceased person passes away without a will (intestate) or with a will (testate), a Collection by Affidavit is an option for small estates. and may save one time and money when compared to the traditional probate process. psst.....Can you please do me a favor? I need your help to grow my youtube channel. Can you please subscribe? Thank you! Who May Serve As The Affiant? The decedent's heir, beneficiary, creditor, or executor, may serve as the affiant ( a person who swears to an affidavit.) or person who makes the affidavit. When a decedent does not leave behind a sizable amount of property, the administrator and heirs might save time and money by applying for the affidavit. If the court grants the petition, the affiant will be permitted to collect and manage the inheritance. Debts must be paid, and assets must be distributed as directed in the will (or the North Carolina Intestate Succession law if the deceased left no will). After all estate obligations have been paid, and all estate property has been distributed, the affiant must submit a closing affidavit with the Clerk of Superior Court. The form is The Affidavit of Collection, Disbursement, and Distribution (Form AOC-E-204). Complete details of the estate's earnings, debt payments, and disbursements can be seen in the closing affidavit. Requirements for qualifying for Affidavit for Collection of Personal Property. The value of the deceased person's personal property, less any liens, must be $20,000 or less for the estate to be eligible for this process if the decedent was unmarried. The same applies if the affiant is not a spouse. However, as the sole heir of the deceased, the surviving spouse may apply for the Affidavit. In this instance, the value of the decedent's personal property may not be more than $30,000 after deducting any encumbrances and a $60,000 spousal allowance. [To learn more on how a small estate affidavit can help you skip probate I suggest you read this article: Small Estates: How a Small Estate Affidavit Can Help You Skip Probate Court.] All tangible assets, such as furniture, jewelry, automobiles, etc., are included in this valuation. Stocks, bonds, and bank accounts are examples of intangible assets that are also considered part of the decedent's personal property. Retirement accounts and life insurance policies with beneficiary labels are not included in the computation to determine whether or not an estate meets the legal definition of a small estate. Land, houses, buildings, and mineral rights are examples of real property that fall outside this definition's scope. [To learn more about which assets have to and not have to go through probate read the article: Probate Assets: What You Need To Know.] Conditions for filing out the Affidavit for Collection of Personal Property in North Carolina. The provisions of North Carolina Statute 28A-25-1 directs the Affidavit for Collection of Personal Property. To ensure a successful procedure, the following requirements must be met: There must have been at least 30 days between the date of death and the beginning of the application process. The application must include Death Certificate verifying the 30-day waiting period No pending application or approval must be granted for a personal representative's appointment. The application must include a detailed inventory of the deceased estate. However, if the deceased's real property is to be sold within two years of death, the small estate criteria may be waived. [To learn what must be included in the inventory list read the article: How To Create a Probate Inventory List.] A certified copy of the will must be attached to the application if the deceased left a valid will. All the beneficiaries' and heirs' full names and current addresses must be entered correctly on form AOC-E-203B. The form must be completed in black ink. A notary public, Clerk of the Superior Court, or Assistant CSC must attest to the affiant's signature and the authenticity of the documents. An official seal must be affixed by either a court official or a notary. The county of the deceased's residence must be the location of filing the affidavit. A Resident Process Agent document AOC-E-500, must be provided if you are not a resident of North Carolina. This form must be signed by you and an resident process agent who you appoint, and must be notarized. This designated individual will assist with handling court matters such as handling paperwork and making sure you receive the papers for your records. [To learn more about the role of the resident process agent I suggest you read: What Does A Resident Process Agent Do In Probate In NC.] Benefits of applying for the Affidavit for Collection of Personal Property Compared to a full-fledged probate administration, the Affidavit for Collection of Personal Property of Decedent process usually saves money and time. In contrast to probate, there is no mandatory waiting period or notice to creditors. Thus, if an estate qualifies as "small, "it is unnecessary to go through the probate process, which can take months or even years. Instead, fill out the Affidavit for Collection of Personal Property and have it notarized. The clerk of superior courts will process the file and send out copies to all entitled parties. Certified copies of the affidavit, along with the death certificate will be sent out to any party/person who has possession of the decedent's property. Once this is done the party is now obligated by law to transfer the property to the affiant. North Carolina Affidavit for Collection of Personal Property Using a North Carolina Affidavit for Collection of Personal Property, a deceased person's heirs can claim their inheritance without going through the lengthy and expensive probate process. However, this Affidavit is useful only if the petitioner or affiant has a valid claim to the estate. To qualify for the affidavit, the net worth of the decedent's estate must be at most $20,000 or $30,000 if the surviving spouse is the only heir. [To learn more about the surviving spouse rights read: Surviving Spouses Property Rights in North Carolina.] Despite how straightforward the procedure may appear, it demands great attention to detail. Because of this legal counsel can be invaluable if you need help with the affidavit process or the closure of an estate. North Carolina Probate Solutions Hello, I'm Denise Davis. The owner of North Carolina Probate Solutions and a licensed realtor with EXP Realty 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 and understand the burden probate can be while still grieving. 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 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. To Learn More About The Probate Process Denying Your a Creditors Claim Against Your Loved One's Estate Probate Terminology Probate Frequently Ask Questions Probate Property Issues North Carolina Probate Forms Where To File Probate In NC