If you are considering making a will in Greensboro, North Carolina, you may be curious about how your wishes are carried out after you die. In general, a will sets out your choices about who receives your property, or at least a specific type of your property known as probate property.
As part of the probate process, someone will have to represent your state. This person, known as an executor or personal representative, has several duties, one of which is notifying any potential creditors that your estate is currently in probate and they will need to file a claim to get repaid.
After you die and the court appoints an executor over your estate, that executor will have to publish a public notice in a local newspaper. That notice must also be placed in the county courthouse and in at least four other public locations throughout the county. The newspaper notice must also be published for four consecutive weeks, giving potential creditors enough time to file a claim with the court.
After all creditors submit a claim to the court, it is up to the executor to determine who gets repaid and in what order. North Carolina probate law dictates the repayment order. If the estate is insolvent, meaning there is not enough to repay all the claims, the executor will have to determine which claims are repaid first, and which claims go unpaid.