Affidavit Of Collection, Disbursement, And Distribution: This is an official form from the North Carolina Administration of the Courts (AOC), which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by North Carolina statutes and law.
The Affidavit of Collection Disbursement and Distribution is a legal document commonly used within the United States to facilitate the transfer of assets after someone has passed away. This document serves as evidence of the lawful collection, management, and distribution of the decedent's estate. The process begins with the appointment of a personal representative or executor who is responsible for administering the estate. The personal representative's primary duty is to collect all the assets of the decedent and ensure their proper distribution to beneficiaries or heirs. There are a few different types of Affidavit of Collection Disbursement and Distribution commonly used in the United States: 1. Small Estate Affidavit: This type of affidavit is used when the total value of the decedent's assets falls below a certain threshold determined by state law. It can be a simplified and cost-effective alternative to probate. 2. Sworn Statement to Close an Estate: This affidavit is filed after the personal representative has completed the administration of the estate, confirming that all the assets have been collected, debts have been paid, and distributions have been made according to the decedent's wishes or applicable state laws. 3. Affidavit of Distribution: This type of affidavit is specific to the distribution of a particular asset, such as real estate or a bank account. It outlines the details of how the asset is being transferred to the identified beneficiary or heir, often including information about any liens, encumbrances, or outstanding debts related to the asset. 4. Affidavit of Warship: This affidavit is used when there is no will or the will does not name an executor. It establishes the legal heirs of the decedent and their respective rights to inherit the estate. This affidavit is often utilized to provide evidence of ownership for purposes such as transferring property titles. The Affidavit of Collection Disbursement and Distribution is an essential legal tool that helps ensure a smooth transfer of assets, avoid potential disputes, and provide a clear record of the estate administration process. It is important to consult with an attorney or legal professional knowledgeable in estate planning and probate law to properly draft and execute these affidavits in compliance with the applicable state laws and regulations.