How are proceeds from a deceased parent’s pending personal-injury claim paid out when there’s a small-estate affidavit instead of full probate? nc

How are proceeds from a deceased parent’s pending personal-injury claim paid out when there’s a small-estate affidavit instead of full probate? – North Carolina Short Answer In North Carolina, a pending personal-injury claim usually cannot be paid directly to an heir just because a small-estate affidavit is being used for other assets. Most insurers and…

How does trust administration work when a company is named as trustee and the beneficiaries haven’t been contacted yet? nc

How does trust administration work when a company is named as trustee and the beneficiaries haven’t been contacted yet? – North Carolina Short Answer In North Carolina, a corporate trustee generally takes control of trust assets after the settlor’s death, pays appropriate expenses, and then makes distributions under the trust’s terms. Even if beneficiaries have…

If the bank account and life insurance have beneficiaries and pass outside the estate, how are the deceased person’s credit card debts supposed to be paid? nc

If the bank account and life insurance have beneficiaries and pass outside the estate, how are the deceased person’s credit card debts supposed to be paid? – North Carolina Short Answer In North Carolina, credit card debt is normally paid from the probate estate (assets titled in the deceased person’s name alone), not automatically from…