What happens to vehicles and other equipment that have liens when the estate doesn’t have enough money to keep making payments? nc

What happens to vehicles and other equipment that have liens when the estate doesn’t have enough money to keep making payments? – North Carolina Short Answer In North Carolina, if an estate cannot afford payments on a vehicle or other equipment that is collateral for a loan, the secured lender generally has the right to…

Can the court reject or delay a final accounting because of issues with creditor claims or missing creditor notice paperwork? nc

Can the court reject or delay a final accounting because of issues with creditor claims or missing creditor notice paperwork? – North Carolina Short Answer Yes. In North Carolina estate administration, the Clerk of Superior Court can refuse to accept, “finalize,” or approve a final account if the estate file does not show required creditor-notice…

Can the estate distribute most of the funds before everything is completely finished, and how much needs to be held back for unknown creditors and fees? nc

Can the estate distribute most of the funds before everything is completely finished, and how much needs to be held back for unknown creditors and fees? – North Carolina Short Answer Yes. In North Carolina, an estate can often make a partial (interim) distribution before the estate is fully closed, but the personal representative should…

What documents does the personal representative need to provide to resolve a government care-related claim against the estate? nc

What documents does the personal representative need to provide to resolve a government care-related claim against the estate? – North Carolina Short Answer In North Carolina, a government care-related claim against an estate is often handled like a creditor claim, and the personal representative typically needs to prove (1) authority to act for the estate…