How long do I have to wait for all of my parent’s creditors to come forward before I distribute assets? – North Carolina Short Answer In North Carolina, you generally wait until the creditor “bar date” has passed before distributing assets. After you publish notice to creditors once a week for four weeks and mail…
What happens if the estate account doesn’t have enough funds to pay all debts? – North Carolina Short Answer In North Carolina, if an estate is short on cash, the administrator must pay debts in a strict statutory order after costs of administration and any year’s allowances. Higher-priority claims are paid first; lower-priority creditors may…
How can I prevent my parent’s creditors from forcing the sale of our family home? – North Carolina Short Answer In North Carolina, creditors cannot directly force a sale of estate real estate; a sale happens only if the personal representative (administrator) asks the Clerk of Superior Court for authority to sell because the estate…
What steps are involved in reassigning an executor and reopening an estate after death? – North Carolina Short Answer In North Carolina, you change an executor either by the executor resigning with the Clerk’s approval or by asking the Clerk to revoke the current executor’s letters and appoint a successor. To reopen a closed estate,…
Can I ask the court to appoint me executor if I was only named as a beneficiary? – North Carolina Short Answer Yes. In North Carolina, a beneficiary may ask the Clerk of Superior Court to reopen a closed estate and appoint them as the personal representative if there is a vacancy and appointment is…
How do I petition to reopen a closed estate to recover missing assets? – North Carolina Short Answer In North Carolina, a beneficiary or any interested person may ask the Clerk of Superior Court to reopen a closed estate when new estate property is discovered, a necessary act was not done, or other proper cause…
What documents should I provide to verify my share of the rental income and appraisal? – North Carolina Short Answer Bring clear proof of what rent was collected, what expenses were paid, and a reliable valuation. In North Carolina partition buyouts, you typically show leases, rent rolls, bank statements, tax returns (Schedule E), property management…
How does the mediation process work for a property buyout in North Carolina? Short Answer In North Carolina, mediation for a co-owner property buyout is a confidential, structured negotiation run by a neutral mediator. It can be ordered by the Clerk of Superior Court in partition matters or occur under superior court rules if the…
How can I ensure the rental income is included in the buyout offer for our co-owned property? – North Carolina Short Answer In North Carolina, co-owners can account for “rents and profits” in a buyout by agreeing to a written credit for rental income (net of agreed expenses) as part of the settlement and deed.…
How do I locate a lost will or other estate planning documents after a parent dies? – North Carolina Short Answer In North Carolina, start by asking the Clerk of Superior Court to check for any will deposited for safekeeping, and arrange a proper safe-deposit box inventory if one exists. You can also compel anyone…
