Estate Form Information For The Current Branch
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How to fill out California Estate Planning Questionnaire And Worksheets?
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FAQ
Letters of Testamentary, also called Letters of Administration or Letters of Representation, is a document issued by the probate court. The document grants the authority to an estate administrator, executor or personal representative to manage the deceased taxpayer's affairs and estate.
In Virginia, any estate valued at greater than $50,000 at the time of the owner's passing must go through the probate procedure.
For small estates, North Carolina has a simplified process which allows you to wrap up the estate without formal probate. This process applies to estates with personal property valued at $20,000, or $30,000 if the surviving spouse inherits everything under state law.
Assets that are designed to have a named beneficiary but lack one can also be included in the residuary estate. So, for example, if you set up a payable on death account at your bank but fail to add a beneficiary to it, any funds in the account would get lumped in to the residual estate.
Letters of Administration are similar to a Grant of Probate but are issued instead to the next of kin of an individual who dies without a valid Will. If you have not made a Will, this means you have not appointed a specific person as your Executor to administer your Estate.