North Carolina General Statutes 28A-22-1. Scheme of distribution; testate and intestate estates
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Terms Used In North Carolina General Statutes 28A-22-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Personal representative: includes both an executor and an administrator, but does not include a collector. See North Carolina General Statutes 28A-1-1
After the payment of costs of administration, taxes and other valid claims against the decedent‘s estate, the personal representative shall distribute the remaining assets of the estate in accordance with the terms of decedent’s valid probated will or the provisions of Chapter 29 of the N.C. Gen. Stat. or as otherwise lawfully authorized. (1973, c. 1329, s. 3.)