What Happens If There Is No Named Executor of an Estate?
A personal representative, sometimes called an executor or administrator, is responsible for managing an estate during probate. If a will does not name an executor, or if the named executor cannot serve, the probate court can still move the estate forward by appointing someone to handle the administration process.
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How Long Does an Executor Have to Settle an Estate in North Carolina?
There is no fixed deadline for how long an executor has to settle an estate in North Carolina. However, executors must meet specific legal deadlines throughout the probate process. While some estates may close within several months, others can take a year or longer, depending on the complexity of the estate.
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What Is Parents’ Dependency and Indemnity Compensation (DIC)?
The United States is proud of our veterans and that which they sacrifice so that our freedom remains secure. That is why there are many veteran benefit programs offered by the federal government and administered by the Department of Veterans Affairs (VA). The government also recognizes that the parents of veterans have given...
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What Is an Irrevocable Life Insurance Trust?
It is no surprise that life insurance is one of the most commonly purchased financial products in the U.S. The benefits of life insurance can provide critical financial relief in the wake of the death of a loved one. Life insurance proceeds can replace the earnings of a breadwinner or cover cost of burial...
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Which Assets Avoid Probate?
During probate of an estate, the court oversees the management and distribution of a deceased individual’s assets. Additionally, all outstanding debts of the estate are paid. An executor or administrator of the estate will be appointed to carry out the necessary tasks of probate. The logistics and necessities of going through probate...
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Why You Should Consider Incorporating 529 Plans Into Your Estate Plan
When properly crafted, an estate plan has so much more to offer than simply a way to distribute assets to your family and loved ones. There is an extensive range of estate planning tools that are often overlooked, but can provide many benefits to those who choose to access them. For instance, a 529...
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How to Pay for the Costs of Assisted Living
The cost of assisted living care in the U.S. is increasingly high. The average rent for assisted living ranges from $2,000 to $5,000 per month, with the national average falling somewhere close to $4,000 per month. Few people can afford this, but many older adults need some help living a semi-independent life, but do...
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The CDC’s Coronavirus Guidance for Older Adults
The COVID-19, also referred to as the Coronavirus, pandemic has brought a level of anxiety that is palpable across the U.S. and the globe. As the disease spreads, the fear of it grows. This is especially true for those groups who have been deemed particularly vulnerable to the risks of the Coronavirus. While the...
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What Are the Responsibilities of an Executor?
Estate planning is something everyone should do as soon as possible. It is an important process that puts critical legal tools in place to protect you and your loved ones. There will be many difficult decisions you will have to make during the estate planning process. This is true just of creating your...
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How Did the Deficit Reduction Act of 2005 (DRA) Affect Medicaid?
Medicaid seems to always be in the news as it is often at the center of politics. There are many discussions on changes in Medicaid. Those in office or running for office frequently say that they will introduce legislation relating to Medicaid. Changes in Medicaid legislation can have a big impact on how can...
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