Limitless Magazine March 2022

Page 28

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Estate administration ... known as Probate

Senior Advisors help navigate your journey

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fter losing a loved one, one of the first questions people ask is how to access and distribute the assets belonging to the deceased person (referred to as the “Decedent”). Estate administration, also known as Probate, may be necessary in order to access assets, including real and personal property, titled in the Decedent’s sole name. In North Carolina, estate administration is overseen by the Clerk of Superior Court. Whether or not the Decedent died with or without a Will, a full estate administration in North Carolina requires a Personal Representative to do several things, including: • Filling out and submitting an application, oath, and bond form • Collecting and preserving assets • Opening an estate bank account • Filing a publication of Notice to Creditors in the local paper • Completing an inventory within 90 days • Selling assets • Paying or rejecting creditors • Transferring assets to heirs or beneficiaries • Filing an annual or final account with the Clerk of Court The Personal Representative must follow the probate laws in North Carolina. If the Personal Representative does not follow the law correctly, he or she may be subject to being removed as the personal representative, being fined, and/or being held in contempt of court. The probate rules and procedures are complex. Therefore, it is best to consult with a probate lawyer to assist in the estate administration process. Danielle Feller For more information or assistance with estate administration, contact Daly Mills Estate Planning for a free consultation at 704878-2365. You can also visit our website at www. DalyMillsEstatePlanning.com.

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Senior Advisor takes a personalized approach to help you locate housing and service options with trusted industry partners. Along with identifying appropriate housing options, they will assist with identifying other services that may be needed as you move through the process such as a Senior Real Estate Specialist, an Elder Law Attorney, a Financial Planner, or a Move Manager. Your Senior Advisor should rely on an organized process to help you navigate through all your choices. You should expect: Initial Consultation: This service is free to seniors and their families. Provides a meeting via telephone, video conference, or face-to-face to learn about you, and provide insight on what you can expect from them and identifies how they can best assist you. Identifying Lifestyle Needs: A comprehensive consultation will consist of an in-depth conversation with you regarding lifestyle preferences, care needs, location, and financial considerations. Identifying if you Qualify for Financial Assistance: Helping you look into funding options like Veteran’s Aid and Attendance, Long Term Care benefits, and reverse mortgages that may be able to assist with paying for Assisted Living, Memory Care, or Home Care. Receiving a Personalized List of Local Housing Options: Once the consultation is completed, a concise list of local housing options, personalized to your specific needs, should be provided to give you a starting point that is tailored to the information you have provided. Touring Communities: Your Senior Advisor will then set up tours at each community you are interested in and attend the tours with you to help ask questions, keep the information organized and allow for greater confidence in your choice.

Christine Ogden, Owner Oasis Senior Advisors 704-343-6240 cogden@youroasisadvisor.com www.oasissenioradvisors. com/lake-norman-nc