If the will says to sell everything and split the proceeds, do we still have to sell sentimental furniture and household items, or can heirs keep items by buying them out? nc

If the will says to sell everything and split the proceeds, do we still have to sell sentimental furniture and household items, or can heirs keep items by buying them out? – North Carolina Short Answer Not always. In North Carolina, an executor (personal representative) generally has authority to sell estate personal property, but a…

What personal liability risk do I have as the estate’s representative if I sell property or pay bills before all creditor claims are known? nc

What personal liability risk do I have as the estate’s representative if I sell property or pay bills before all creditor claims are known? – North Carolina Short Answer In North Carolina, a personal representative can face personal liability if estate money or sale proceeds are paid out in the wrong order or too early,…

If most assets passed outside probate, does the will still control how that money gets divided among the children? nc

If most assets passed outside probate, does the will still control how that money gets divided among the children? – North Carolina Short Answer Usually not. In North Carolina, a will generally controls only the assets that are part of the probate estate (property the person still owned in their individual name at death). Assets…

Can I hold a personal representative personally responsible for mishandling or failing to list estate property? nc

Can I hold a personal representative personally responsible for mishandling or failing to list estate property? – North Carolina Short Answer Yes. In North Carolina, a personal representative is a fiduciary and can be held personally responsible if a breach of duty causes loss to the estate—such as failing to safeguard property, failing to act…

Can a co-beneficiary who is also the executor sell an inherited house without the other beneficiary’s permission? nc

Can a co-beneficiary who is also the executor sell an inherited house without the other beneficiary’s permission? – North Carolina Short Answer Usually, no. In North Carolina, when a will leaves a house to two beneficiaries, both beneficiaries typically have an ownership interest, and one co-beneficiary cannot sell the whole property without the other co-owner…

Do I need the sealed estate letters before I can access or manage the deceased person’s accounts and property? nc

Do I need the sealed estate letters before I can access or manage the deceased person’s accounts and property? – North Carolina Short Answer In North Carolina, most banks, brokerages, and other institutions will not let anyone access, move, or close a deceased person’s accounts until the court appoints a personal representative and issues sealed…

How do we confirm who has authority to communicate and make decisions for the estate during the property sale process? nc

How do we confirm who has authority to communicate and make decisions for the estate during the property sale process? – North Carolina Short Answer In North Carolina, the person with authority to speak for and make decisions for an estate during a real estate sale is usually the court-appointed personal representative (executor or administrator).…