If an investment account names the trust, does it bypass probate and stay off the estate’s accounting? – North Carolina Short Answer In North Carolina, an investment or brokerage account that is properly titled or registered in the name of a living trust, or that designates a trust as a transfer-on-death (TOD) or payable-on-death (POD)…
What documentation do I need to prove the claim was filed too late? – North Carolina Short Answer Under North Carolina probate law, proof that a creditor’s claim was filed too late usually comes from the court file and the claim itself. The key documents are: (1) the published Notice to Creditors and Affidavit of…
Will rejecting a creditor claim slow down closing the estate or final distributions? – North Carolina Short Answer Under North Carolina law, rejecting a creditor claim does not automatically prevent closing the estate or making final distributions, especially if the claim is clearly late and therefore barred. However, the personal representative must give written notice…
How can I prove paternity to be recognized as an heir when I was born outside of marriage and my parent has already passed? – North Carolina Short Answer Under North Carolina law, a child born outside of marriage can inherit from a deceased father only if paternity is established in one of several specific…
What documents do banks typically require before they will release a deceased person’s account records for an estate? – North Carolina Short Answer Under North Carolina law, most banks will release a deceased person’s account records only after they receive proof of death, proof that an estate has been opened, and clear written authority from…
Can I start the probate myself or ask the court to appoint someone else if the named executor is not moving forward? – North Carolina Short Answer Under North Carolina law, if the person named as executor does not promptly offer the will for probate and qualify, any interested person (such as an heir or…
Can I send a copy of the will to the named trustee now to get information about fees and how the trust will be set up? – North Carolina Short Answer Under North Carolina law, a personal representative may generally share a probated will with the named trustee of a testamentary trust so the trustee…
When should beneficiaries expect a timeline and written estimate of trustee fees and ongoing costs? – North Carolina Short Answer Under North Carolina law, a trustee’s compensation must be reasonable, and if it is not set in the trust, the trustee generally provides fee information when trust administration begins and before taking sizeable fees. For…
What steps are required to create and fund a testamentary trust after probate starts, and when does the trustee officially take over? – North Carolina Short Answer In North Carolina, a testamentary trust comes into legal existence when the will creating it is admitted to probate, but it is practically “created and funded” as the…
What happens to the sale proceeds before the creditor period is over, and who controls those funds? – North Carolina Short Answer Under North Carolina probate law, when estate real estate is sold before the creditor claim period ends, the proceeds generally stay under the control of the personal representative and are treated as estate…
