North Carolina Affidavit

In North Carolina, you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

On the form, you state that the value of the estate's personal property (everything but real estate) is less than $20,000 (or less than $30,000 if the surviving spouse inherits everything under state law) and that at least 30 days have passed since the person's death.

You should expect it to take a minimum of six months to a year to settle an estate because of the legal notice requirements and time that creditors have to submit claims against the estate. Creditors have 90 days from the first publication date of the notice of probate.

Under California Probate Code, the executor typically receives 4% on the first $100,000, 3% on the next $100,000 and 2% on the next $800,000, says William Sweeney, a California-based probate attorney. For an estate worth $600,000 the fee works out at approximately $15,000.

Unless the Will provides otherwise, under North Carolina law, Executors or Administrators may claim a commission of up to 5% of the Estate assets and receipts, as approved by the Clerk of Court. Trusts should provide specific guidance regarding compensation.

Executor's remuneration: 3.5% calculated on the gross value of assets as at death. income collection fee: 6% calculated on all post-death revenue.

Executor's commission, or administrator's commission, is a discretionary estate payment to Probate executors or estate administrators as compensation for the pains and troubles they've gone through in administering the estate. Executor's commission can either be made by: 1.

Executor's Percentage Under North Carolina law, an executor may receive up to five percent of the value of the estate's receipts and disbursements" as compensation.