Legal Question in Family Law in North Carolina

Re: Estate

Grantor and Grantee are terms typically found on a real estate deed or other real property transaction. The Grantor is the person that is transferring the real property. The Grantee is the person who is receiving the real property.

In a Will, the Testator (or Testatrix if female) is the person who has passed away and is dictating in the Will how they want their estate to be handle.

An Executor (or executrix if female) is the person who has been named by the Testator to handle the administration of their estate upon their death. The executor must provide an accounting to the clerk of courts at the estates division of the NC county in which the testator passed away. The executor works with the clerk to administer and close the estate.

A trustee is often named in a Will by the testator when the Will includes a trust. One typical trust is a testamentary trust for minor children. A trustee will be named in the Will and the trustee will be responsible for administering the terms of the trust as set forth in the Will. This is a role separate from the Executor's role. However, it is possible for a testator to name the Executor and the Trustee as the same person. Sometimes a trustee may also be a financial institution or other organization rather than an individual. There are many ways to struture it.

If you have any additional questions, please feel free to contact me on my virtual law office at www.kimbrolaw.com. I handle estate planning and administration for clients throughout North Carolina.