Legal Question in Wills and Trusts in North Carolina
out of state will
My sister and I have been named co-executor of my mother's last will and testament. For convenience sake my sister suggested that I renounce my rights as co-exec so I wouldn't have to travel to make decision's and transactions regarding the estate. She sent me a from of renunciation of right to qualify for letters of testamentary or letters of administration from North Carolina to sign. of the two boxes to check, the one she checked is for me to renounce the right to administer the estate and asks that she be named administrator of the estate. the other box renounces my right to qualify as executor. I am also a beneficiary in the will. If she becomes administrator instead of executor is it possible i could be excluded from my share of the estate and should I sign this agreement? If I do sign do I lose inheritance rights?
2 Answers from Attorneys
Re: out of state will
The same person(s) can serve as executors can be beneficiaries. It is more efficient to have an executor from the same jurisidction where the will is being probated. What you may lose out on is sharing the fiduciary fee. An executor can elect to be compensated for the work he or she does using a statutory formula. You may want to have your own attorney review the documents.
Re: out of state will
If you wish to renounce your right to qualify as executor, you should have received form AOC-E-200 and you should check off the box that you are renouncing your right as executor.
You can find the form online at the North Carolina aoc (administrative office of the court) website.
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