How do I inventory estate assets and access a corporate bank account during North Carolina probate?

How do I inventory estate assets and access a corporate bank account during North Carolina probate? Detailed Answer When someone passes away in North Carolina, the clerk of superior court appoints a personal representative. This person has legal authority to gather estate assets, pay debts, and distribute remaining property to heirs. Two common tasks for…

What are my options to enforce a personal contract and its effect on a North Carolina probate?

Detailed Answer When a person dies without honoring a personal contract, you can enforce that agreement through probate or by pursuing a judgment and then attaching estate assets. North Carolina law requires the personal representative to publish notice to creditors under Chapter 28A of the North Carolina General Statutes. Your breach‐of‐contract claim qualifies as a…

How do I transfer an LLC interest to a minor and manage guardianship under North Carolina law?

Detailed Answer Transferring an LLC membership interest to a minor in North Carolina requires careful planning. You must respect the LLC’s operating agreement, use the Uniform Transfers to Minors Act (UTMA), and—if needed—establish a guardianship of the estate under North Carolina probate law. This process ensures the minor’s new interest remains protected until they reach…

How can an executor offset wrongful heir distributions and address bankruptcy stays in North Carolina probate?

How Can an Executor Offset Wrongful Heir Distributions and Address Bankruptcy Stays in North Carolina Probate? 1. Detailed Answer When an executor discovers that an heir has received estate assets they were not entitled to, North Carolina law provides tools to correct the mistake. Under N.C. General Statute § 28A-15-2 (ncleg.gov), the heir must return…

What rights do North Carolina heirs have when a surviving spouse blocks access and handles estate assets?

What rights do North Carolina heirs have when a surviving spouse blocks access and handles estate assets? Detailed Answer When a spouse survives the decedent and assumes responsibility for estate assets, North Carolina law gives heirs clear rights. A surviving spouse may act as personal representative if appointed by the clerk of superior court, but…

How do I transfer out-of-state inherited property and meet North Carolina creditor notice requirements?

How to Transfer Out-of-State Inherited Property and Comply with Creditor Notice Requirements in North Carolina Detailed Answer When you inherit real estate located outside North Carolina, you must clear two main hurdles: obtaining proper authority to transfer title and satisfying North Carolina’s creditor notice rules for the estate. Handling both correctly protects you from future…