Does divorce automatically revoke an ex-spouse’s beneficiary designation on a North Carolina pension plan governed by ERISA?

FAQ: Does Divorce Automatically Revoke My North Carolina Pension Beneficiary Designation? When you named your former spouse as beneficiary on a Duke University pension plan, that designation generally survives unless the plan document or state law provides otherwise. In North Carolina, divorce revokes beneficiary designations on life insurance policies and annuity contracts by operation of…

How are household furnishings valued, amended, and reported in North Carolina probate?

How are household furnishings valued and reported in North Carolina probate? North Carolina law requires every personal representative to file an inventory of estate assets, including household furnishings, under N.C. Gen. Stat. § 28A-13-2. When a will directs that furnishings be handled separately from other personal property, you must value them on their own line.…

How do I reopen a closed North Carolina probate estate to collect newly discovered assets or retirement benefits?

How Do I Reopen a Closed Probate Estate in North Carolina? If an estate has already closed but additional assets surface or heirs need to collect funds—like retirement benefits—you can petition the clerk of superior court to reopen the estate. North Carolina General Statute § 28A-20-1 authorizes the superior court to reopen an estate for…

How are probate attorney fees paid from proceeds when inherited real property is sold in a North Carolina estate?

1. How are probate attorney fees paid when real property is sold from an estate in North Carolina? When you sell estate property in North Carolina, attorney fees count as an expense of administration. Under N.C. Gen. Stat. § 28A-15-1(4), a personal representative may pay “expenses of administration,” which include reasonable legal services. Whether you…