What debts and taxes must be paid before any inheritance is distributed? NC

What debts and taxes must be paid before any inheritance is distributed? – North Carolina Short Answer In North Carolina, a personal representative generally must pay the estate’s administration costs and valid claims in the statutory order of priority before distributing inheritance. This typically includes estate administration expenses, certain secured claims, limited funeral and burial-related…

What rights do beneficiaries have to an accounting if a coexecutor rented part of the property and used rent or an estate account to pay property taxes? NC

What rights do beneficiaries have to an accounting if a coexecutor rented part of the property and used rent or an estate account to pay property taxes? – North Carolina Short Answer In North Carolina, beneficiaries generally have the right to see the estates required court-filed accountings (including receipts and disbursements) and to ask the…

Do I need certified copies from the clerk, or can I use documents printed from the court’s online portal when handling estate tasks? NC

Do I need certified copies from the clerk, or can I use documents printed from the court’s online portal when handling estate tasks? – North Carolina Short Answer In North Carolina, many third parties (especially banks, title companies, and Registers of Deeds) will require certified Letters Testamentary/Letters of Administration and other probate papers, not simple…

If there is a tax refund or small amount left after paying claims, who receives it when the year’s allowance and a deficiency judgment are involved? NC

If there is a tax refund or small amount left after paying claims, who receives it when the year’s allowance and a deficiency judgment are involved? – North Carolina Short Answer In North Carolina, any money that comes into the estate (including an income tax refund that belongs to the estate) must be applied in…