Handling an estate or trust is a complicated process that can be overwhelming to anyone who is not familiar with the procedure. Acting as a fiduciary for an estate or trust can be burdensome, particularly if the duty is thrust upon a person after the death of a loved one. At Savage Law, our team has extensive experience assisting both individual and corporate fiduciaries in administering estates and trusts.
We help fiduciaries with every aspect of the administration process, including:
Transfer of stocks, bonds, and accounts
Estate tax returns (federal and state)
Fiduciary income tax returns (federal and state)
Disclaimers and other post-mortem tax planning
Administration of Qualified Terminable Interest Property (QTIPs)
To assist our clients during what is often a difficult time, our firm offers a choice of four tiers of billing rates for our clients. We offer support across all areas of the process, with our skillful advice derived from years of navigating probate and estate administration matters.
Probate is the process of administering an estate through the probate court after a person’s death. It involves validating the will, paying creditors, and distributing assets in accordance with the will or by intestacy. In North Carolina, probate is required if the person was domiciled in the state or owned property in the state at the time of his or her death. A personal representative is appointed to manage and administer the estate; this person then has a fiduciary duty to administer the estate properly.
Probate can be a lengthy and complicated procedure, especially for large estates or those estates with many different types of assets. It requires complying with court deadlines, conducting an inventory of assets, paying taxes, and managing and preserving the estate appropriately. At Savage Law, we are skilled in probating wills and administering estates on behalf of our clients. Our goal is to make sure the process is handled in a smooth and efficient manner. We assist individuals and families through this process, from gathering tax information to identifying assets and creditors as well as properly distributing assets. Our ultimate goal is to make sure that the personal representative complies with his or her legal and fiduciary duties and that the estate is probated in accordance with North Carolina law. Paralegal, Cornelia Harbison Hoover has extensive experience assisting with the administration of aspects of estates overcoming the difficulties presented by complex administrations. We strive to handle all aspects of estate administration in an expeditious and timely manner. Our guidance at Savage Law can help to avoid disputes and litigation over the terms of an estate.
We also assist clients in administering trusts by helping them to formulate procedures to ensure that they are meeting their legal, financial and ethical obligations as a fiduciary. We are committed to ensuring that our clients understand their duties as a trustee and that they are meeting these obligations in a timely and efficient manner. We work collaboratively with our fiduciary clients to analyze the financial, legal and tax issues of a particular trust and counsel them throughout the administration process to help them meet their responsibilities.
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