Probate Q&A Series

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Probate Q&A Series

What happens if a probate case is finished but the estate closings or final distributions were never properly completed? NC

What happens if a probate case is finished but the estate closings or final distributions were never properly completed? – NC Short Answer In North Carolina, a probate file is not truly finished just because the main court activity slowed down or an agreement was signed. If the personal representative never completed the final accounting,…

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Probate Q&A Series

Who is responsible if estate funds or closing proceeds were delayed or not distributed the way they were supposed to be? NC

Who is responsible if estate funds or closing proceeds were delayed or not distributed the way they were supposed to be? – NC Short Answer In North Carolina, the person usually responsible for handling estate money and making proper distributions is the personal representative, such as the executor or administrator. If funds were delayed, misapplied,…

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Probate Q&A Series

How can an estate get date-of-death values for a deceased person’s stock account without transferring the shares yet? NC

How can an estate get date-of-death values for a deceased person’s stock account without transferring the shares yet? – NC Short Answer In North Carolina, the personal representative can usually request date-of-death values, account statements, and ownership records from the broker or transfer agent before completing any share transfer. The key is proving authority with…

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Probate Q&A Series

Can an estate request signature cards, account contracts, and statements before completing the share transfer process? NC

Can an estate request signature cards, account contracts, and statements before completing the share transfer process? – NC Short Answer Yes. In North Carolina, a duly appointed personal representative can request records reasonably needed to identify estate assets, confirm ownership, and determine date-of-death values before the transfer of shares is finished. In practice, however, a…

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Probate Q&A Series

What happens if an estate has already mailed letters of administration but the transfer agent says the documents have not been received yet? NC

What happens if an estate has already mailed letters of administration but the transfer agent says the documents have not been received yet? – NC Short Answer In North Carolina, a transfer agent usually does not have to release a deceased account holder’s records to the estate until it receives and processes proof that the…

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