Category Archives: Probate Q&A Series

Can the trust assets be transferred to a new corporate trustee without selling the stocks, so the holdings move “in kind” instead of being liquidated? nc

Can the trust assets be transferred to a new corporate trustee without selling the stocks, so the holdings move “in kind” instead of being liquidated? – North Carolina Short Answer Often, yes. Under North Carolina trust administration, a change from one corporate trustee to another can frequently be handled by transferring the trust’s brokerage assets…

Do I have to open probate if my parent’s bank accounts have beneficiary designations, but the named beneficiary has already died? nc

Do I have to open probate if my parent’s bank accounts have beneficiary designations, but the named beneficiary has already died? – North Carolina Short Answer Often, yes. In North Carolina, a payable-on-death (POD) bank account only avoids probate if at least one named beneficiary survives the account owner. If the only named beneficiary died…

What can I do if there are old estate transactions I can’t remember or fully explain in the accounting? nc

What can I do if there are old estate transactions I can’t remember or fully explain in the accounting? – North Carolina Short Answer In North Carolina, a personal representative generally must file annual accountings until the estate can be closed, and the Clerk of Superior Court can require the accounting to be complete and…

Can I close the estate if I personally agree to pay the remaining creditor claim instead of the estate paying it? nc

Can I close the estate if I personally agree to pay the remaining creditor claim instead of the estate paying it? – North Carolina Short Answer Yes—sometimes a North Carolina estate can be closed even if the estate does not write the check, but only if the creditor is properly resolved. The cleanest path is…

Do I still have to go through probate if the will leaves everything to a trust, and what is my role as executor versus trustee? nc

Do I still have to go through probate if the will leaves everything to a trust, and what is my role as executor versus trustee? – North Carolina Short Answer Often, yes. In North Carolina, a “pour-over” will that leaves probate assets to a trust still usually requires opening an estate with the Clerk of…

If I’m a signatory on one of the deceased person’s bank accounts, can I access it without going through probate? nc

If I’m a signatory on one of the deceased person’s bank accounts, can I access it without going through probate? – North Carolina Short Answer In North Carolina, being a “signatory” alone usually does not mean the account automatically becomes the signatory’s money at death. Access without probate depends on how the account is titled…

If my parent died before my grandparent, do I still inherit anything from my grandparent’s land through my parent? nc

If my parent died before my grandparent, do I still inherit anything from my grandparent’s land through my parent? – North Carolina Short Answer Possibly. Under North Carolina law, a grandchild can take a deceased parent’s place if (1) the grandparent’s will leaves the land to the parent and the will does not require the…

What documents do I need to prove I’m the heir and update the property title? nc

What documents do I need to prove I’m the heir and update the property title? – North Carolina Short Answer In North Carolina, the documents needed to update a deceased relative’s house title usually depend on whether there was a Will and whether an estate was (or must be) opened with the Clerk of Superior…

How do I get Social Security tax documents for a deceased person if their online account is blocked? nc

How do I get Social Security tax documents for a deceased person if their online account is blocked? – North Carolina Short Answer In North Carolina, when a deceased person’s online Social Security account is blocked, the usual way to get the Social Security tax form (typically Form SSA-1099/SSA-1042S) is to work through the Social…

What proof do I need to show an insurance company that I’m authorized to receive a payment for an estate? nc

What proof do I need to show an insurance company that I’m authorized to receive a payment for an estate? – North Carolina Short Answer In North Carolina, an insurance company usually reissues an estate-related payment only after receiving proof that a court has appointed a personal representative (executor or administrator). The most common proof…