News and Articles

Explore our informative articles, insights, and updates focused on North Carolina Estate Administration, Estate Planning, Partition Actions, and Surplus Fund cases. Our goal is to make these complex topics accessible, offering you guidance and understanding at each step of the legal process. Whether you’re looking to navigate probate administration, protect your assets through careful planning, understand partition actions, or resolve issues with surplus funds, our articles are designed to empower you with practical advice, legal insights, and actionable steps. Stay informed and feel confident as you make decisions about your estate and legal matters.

What Happens When There is No Will in North Carolina?

North Carolina Probate Administration FAQs Welcome to our comprehensive FAQ guide on probate administration in North Carolina. Find expert answers and guidance from Pierce Law Group. What Happens When There is No Will in North Carolina? When someone dies without a will in North Carolina, their estate is classified as intestate, meaning that state law…

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The Commissioners’ Report in Actual Partition Proceedings

The Commissioners’ Report in Actual Partition Proceedings In North Carolina, partition proceedings involving the physical division of property, known as actual partition, are intricate processes that demand precision and fairness. A crucial aspect of these proceedings is the commissioners’ report, which outlines the proposed division of property. This document not only reflects the commissioners’ efforts…

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Understanding Commissioners in Partition Actions

Commissioners in North Carolina Partition Actions: What You Need to Know Partition actions in North Carolina often require the appointment of commissioners to ensure the fair division or sale of real property. These commissioners play a critical role in upholding impartiality and ensuring the process adheres to legal standards. If you are involved in a…

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Procedure for Actual Partition in North Carolina

A Complete Guide to the Procedures for Actual Partition in North Carolina In North Carolina, actual partition, also known as partition in kind, is the preferred method of dividing co-owned property. This process physically divides the property among the co-owners, avoiding a forced sale that could infringe on an owner’s rights. However, actual partition is…

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What is the Small Estate Procedure in North Carolina?

Frequently Asked Probate Questions in North Carolina FAQ 1: What is a Small Estate Procedure in North Carolina? Understanding how small estates work in North Carolina can save time and money for families managing a loved one’s affairs. This guide covers the key exceptions to formal estate administration under North Carolina law, focusing on the…

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Understanding Complexity in Surplus Funds Recovery Cases in North Carolina

Understanding Complexity in Surplus Funds Recovery Cases Surplus funds recovery cases often arise after foreclosure proceedings, when the amount obtained from selling a foreclosed property exceeds the outstanding mortgage debt. While this surplus may seem straightforward to claim, various factors can complicate the recovery process, creating challenges for claimants and legal professionals alike. This article…

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What is a Surety Bond in Probate Administration?

Frequently Asked Questions: Understanding Probate Administration in North Carolina What is a Surety Bond in Probate Administration? Answer: A surety bond is a crucial element of probate administration in North Carolina, acting as a safety net to protect the estate’s assets and ensure the personal representative (PR) fulfills their duties. This article provides detailed information about…

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What is a Surplus Funds Case in North Carolina?

Frequently Asked Questions – Probate Administration in North Carolina 1. What is a Surplus Funds Case in North Carolina? In North Carolina, a surplus funds case arises when a foreclosure sale results in funds exceeding the debts owed by the property owner. These funds, known as “surplus funds,” are held by the clerk of court…

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What is a Partition Action in North Carolina?

FAQs on Probate and Partition Actions in North Carolina What is a Partition Action in North Carolina? Inheriting property with multiple owners can be complicated. If you find yourself sharing ownership of real estate and disagree with your co-owners about what to do with it, a legal solution exists: a partition action. This article explores…

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How Do You Appoint an Out-of-state Personal Representative to Probate an Estate in North Carolina?

Frequently Asked Questions about Probate Law in North Carolina FAQ: What is the Role of an Administrator vs. Executor in North Carolina Probates? The terms “executor” and “administrator” refer to the personal representative (PR) of a decedent’s estate. Both are fiduciaries who carry out estate administration. The main difference lies in how they are appointed…

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How Can We Expedite Estate Administration in North Carolina?

FAQ: How Can We Expedite Estate Administration in North Carolina? Understanding Estate Administration Timelines Administering an estate quickly in North Carolina requires organized and efficient action, especially when dealing with potential foreclosure issues. The law requires opening an estate before selling any real estate or distributing assets. To help expedite this process: File necessary court…

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What is a Holographic Will in North Carolina

What is a Holographic Will in North Carolina? When preparing for the distribution of assets after death, many individuals choose to create a last will and testament. While the most common type of will is an attested written will, requiring preparation in writing, the testator’s signature, and witnessing by at least two competent individuals, North…

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How Does Divorce Affect My Estate Plan in North Carolina?

Frequently Asked Questions about Probate and Estate Administration in NC How Does Divorce Affect My Estate Planning Documents? The intersection of divorce and estate planning documents is a significant concern, especially in North Carolina, where these issues can significantly affect the administration of your estate. Whether you are considering divorce or are already in the…

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What Are the Responsibilities of an Executor in Probate Administration in North Carolina?

Frequently Asked Questions: North Carolina Probate Administration What Are the Responsibilities of an Executor in Probate Administration in North Carolina? Estate administration is the legal process of collecting, settling, and distributing a deceased person’s property. This process is often referred to as probate. When a person dies with a valid will, they are said to…

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What Happens When There Is No Will in North Carolina?

FAQs on Probate and Estate Administration in North Carolina North Carolina Intestate Succession: What Happens When There is No Will? If someone passes away without a will in North Carolina, their estate is handled through a legal process called intestate succession. Understanding how this works is crucial for families to ensure a smooth legal process…

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How long does Probate take?

Probate: ¿How long does it take? Probate is a complex and often misunderstood process involved in settling the estate of a deceased person. It ensures that assets are distributed in accordance with the deceased’s wishes and legal requirements.  But, how long does it take? Well, we’ve seen probate cases get solved in under a year,…

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Frequently Asked Questions: How Can I Access a Safety Deposit Box of a Deceased Loved One in NC? And Other Related Questions

Frequently Asked Questions about Probate and Estate Administration in NC How Can I Access a Safety Deposit Box for Probate in North Carolina Before Probate? In North Carolina, accessing a decedent’s safety deposit box is often a crucial step to locating important documents such as a will, insurance policies, or other critical financial records. However,…

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Frequently Asked Question: How Can Someone Be Removed as Power of Attorney? And Other Related Questions

Frequently Asked Questions about Probate and Estate Administration In North Carolina How Can Someone Be Removed as Power of Attorney? Power of attorney (POA) gives a person authority to make decisions on behalf of the principal. However, this authority can be revoked or changed under specific circumstances: The principal revokes the power of attorney. A…

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When Should I Start Estate Planning?

When Should I Start Estate Planning? What comes to mind when you hear “estate planning”? You might think it’s just for the obscenely wealthy folk gracing Forbes covers. But it’s time we bust that myth. Estate planning, my friend, is something everyone needs. Even you! Let’s delve into the details of estate planning and explore…

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Frequently Asked Questions: How are Probate Administration Dispute Resolved in North Carolina? And Other Probate FAQs!

Frequently Asked Questions about Probate and Estate Administration In North Carolina What is Probate and When is it Required in North Carolina? Probate is a legal process that occurs after someone passes away. It involves the court overseeing the distribution of the deceased person’s assets and the payment of any debts and taxes. In North…

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Common North Carolina Probate Issues

Common North Carolina Probate Issues Navigating the probate process in North Carolina can be a complex task. It involves legal procedures, paperwork, and often, emotional stress. This article aims to shed light on common probate issues in North Carolina. It provides an overview of the probate process and highlights the role of North Carolina probate…

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5 Reasons to Update Your Estate Plan

Is Your Estate Plan as Stale as Last Week’s Ham Sandwich? Estate plans are almost magical: They allow you to maintain control of your assets, yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can…

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Thirteen Estate Planning Terms You Need to Know

Estate planning—it is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you…

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Buyer Beware: How to Avoid Estate Planning Scams

Buyer Beware: How to Avoid Estate Planning Scams Imagine spending thousands of dollars on an estate plan to protect loved ones, only to find that no true protection exists. Unfortunately, this scenario happens on a regular basis to individuals who are victims of estate planning schemes. According to a report conducted by the U.S. Consumer…

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Three Reasons Why People Run the Other Way

Three Reasons Why People Run the Other Way It can be hard to get motivated about your estate planning; it sounds about as fun as getting a root canal. However, you also probably want to make sure that your loved ones are protected and receive your hard-earned money and property – regardless of whether you…

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Planning for Stepchildren and Grandchildren

Planning for Stepchildren and Grandchildren Family structures are changing more and more each day in the US, and your estate planning considerations should be changing with them. Blended families should have different priorities and have other considerations to make in the estate planning process. For example, if you remarry and your new spouse already has…

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Our Estate Planning Team is Growing, Again!

  Our Estate Planning Team is Growing, Again! We are very pleased to announce that our team is growing! This month, Attorney David Scott Russ has joined us as an Estate Planning and Probate Attorney at Pierce Law Group. Scott grew up in eastern North Carolina, spending the weekends at the beach with his family.…

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Picking the Right Team

Do you have the right players on your team? Estate planning is not just about what happens to your stuff when you die. It is about coordinating all aspects of your life so (i) you can be taken care of during times when you are unable to care for yourself, and (ii) your money and…

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Can or Should I Hand Write My Will?

Can or Should I Hand Write My Will? Durham Estate Planning Lawyers What is a Holographic Will? A Holographic Will is simply a fancy name for a Will that has been handwritten by the testator (the person that the Will is for). What is required for a handwritten Will to be legally recognized? There are…

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Charitable Giving in Your Estate Plan

Charitable Giving in Your Estate Plan- Durham Estate Planning Lawyer When you think about Estate Planning your mind may jump to thinking about which family members will inherit your assets. But have you considered the option of leaving something behind for a charity or organization that you are passionate about? There are many reasons you…

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What Happens When You Die Without A Will?

What Happens When You Die Without A Will? Durham Estate Planning Lawyers You’ve probably heard of the horror stories of some friend or family member dying without a will….do you know what happens if you decide to let planning for the future fall by the wayside? In short, the State of North Carolina decides how…

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Estate Planning Has Never Been More Imperative

Estate Planning Has Never Been More Imperative As unfortunate as it is to say, the pandemic COVID-19 has brought the reality of potential death and illness to the forefront of everyone’s minds.  That being said, if you’ve been putting off preparing an Estate Plan, Will or Trust, it is IMPERATIVE that you consider the consequences……

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Crisis Resource List – COVID-19

Crisis Resource List – COVID-19 A List of Local Businesses Still Operating During the COVID-19 As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In fact, now is a great time to be proactive and connect with local businesses that…

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Pierce Law Group – Open and Ready for Duty

Pierce Law Group – Open and Ready for Duty Following the updates from the federal, state and local government, we are adapting our operations to continue to provide our clients and vendors the service that they have come to rely upon. Moving forward, our office will remain open as our team of estate planning, elder law,…

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Pierce Law Group Attorney Named 2020 Super Lawyer

Pierce Law Group Attorney Named 2020 Super Lawyer Pierce Law Group is pleased to announce that our managing attorney and owner of the firm, Attorney Jared Pierce has been recognized in the annual ranking of North Carolina attorneys by Super Lawyers magazine. Fellow North Carolina attorneys and peer evaluations by practice area determine the recipients…

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SECURE Act Workshop Audio Transcript

SECURE Act Workshop Audio and Transcript Learn strategies and legal tips from experienced estate planning attorney, Doug Koenig and guest speaker Joel Levy, CPA! This presentation was offered as a free, no-obligation, workshop designed to educate individuals and families about how the SECURE Act has impacted individual retirement accounts. This workshop covered important information about…

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Announcement – Pierce Law Group’s Open House

Announcement – Pierce Law Group’s Open House You’re not truly family until you’ve gone over to someone’s house… While I’m partly being humorous, I also sense that you know exactly what I’m talking about… Sure, going out to dinner with a friend is nice, and grabbing coffee together is great, but there is something different…

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Fair Market Value – North Carolina Bitcoin Lawyer

Fair Market Value – North Carolina Bitcoin Lawyer Determining the fair market value of cryptocurrency can prove to be a difficult task, especially for the ordinary taxpayer. The IRS Notice 2014-21 which classified virtual currency as property for federal tax purposes, specifically stated that taxpayers must report the fair market value of virtual currency as…

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Overview – Cryptocurrency and Tax Law

Overview – Cryptocurrency and United States Tax Law – North Carolina Bitcoin Lawyer In a March 25, 2014 notice, the United States Internal Revenue Services (“I.R.S.) described virtual currencies as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value and does not have…

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Frequently Asked Questions – Cryptocurrency

Frequently Asked Questions – North Carolina Bitcoin Lawyer Q: How is cryptocurrency treated by the Internal Revenue Service? A: Cryptocurrencies are currently considered property but the Internal Revenue Service. As such, general accounting and tax principles apply to cryptocurrency mining and transactions. The Interal Revenue Service’s definition of virtual currencies as property means that each…

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