What is the difference between small estate procedures and full probate when I inherit assets?

What is the difference between small estate procedures and full probate when I inherit assets? – North Carolina Short Answer North Carolina’s small estate process lets an eligible heir collect and distribute a decedent’s personal property by filing a simple affidavit if the estate’s personal property (after liens) is $20,000 or less (or $30,000 if…

Can inheriting assets disqualify me from Medicaid or food stamps?: North Carolina probate guidance

Can inheriting assets disqualify me from Medicaid or food stamps? – North Carolina Short Answer Yes—if you actually receive countable money or property, it can affect income- and resource-based benefits like Medicaid and food stamps (SNAP). In North Carolina, whether you “inherit” something depends on how your parents’ assets are titled. Many items transfer outside…

How are house sale proceeds handled when the administrator appointment is disputed?: North Carolina probate

How are house sale proceeds handled when the administrator appointment is disputed? – North Carolina Short Answer In North Carolina, sale proceeds from estate real estate must be safeguarded and not distributed until a qualified fiduciary is in place and creditor issues are addressed. If who will serve as administrator is disputed, the Clerk of…

How can I object to my sibling’s petition to be administrator when we’re estranged?: North Carolina Probate

How can I object to my sibling’s petition to be administrator when we’re estranged? – North Carolina Short Answer In North Carolina, any interested person (including an heir) may file a written petition with the Clerk of Superior Court to contest the issuance of letters of administration before they are issued. The clerk weighs statutory…

How do I correct a mistaken distribution of life insurance proceeds to an unintended recipient?

How do I correct a mistaken distribution of life insurance proceeds to an unintended recipient? – North Carolina Short Answer In North Carolina, life insurance proceeds belong to the named beneficiaries and usually do not pass through probate. If the insurer mistakenly paid someone else, the named beneficiaries can demand correction and, if necessary, file…