How to Apply for and Use an Estate EIN in a North Carolina Probate Case Detailed Answer When someone passes away, the personal representative (formerly called executor) of the estate must manage financial affairs on behalf of heirs and creditors. One crucial step is obtaining an Employer Identification Number (EIN) for the estate. The estate…
What steps should a North Carolina personal representative take if estate funds are misappropriated at a real estate closing? Detailed Answer When estate funds disappear during a real estate closing, a personal representative must act quickly. North Carolina law holds fiduciaries to strict duties. You must protect the estate from further loss and seek recovery.…
Detailed Answer If you live outside North Carolina and need to become guardian of an adult relative who cannot make decisions for themselves, you can still petition the North Carolina court that has jurisdiction over the proposed ward’s residence. North Carolina law (Chapter 35A of the North Carolina General Statutes) sets out clear steps to…
What Happens to a Decedent’s Tenants in Common Property Share in North Carolina if They Die Without a Will? Detailed Answer In North Carolina, when someone owns real estate as tenants in common, each co-owner holds an independent share. Unlike joint tenancy, there is no right of survivorship. If a co-tenant dies without leaving a…
How Selling an Estate Property Affects Inheritance and the Order of Debt Payments in North Carolina Detailed Answer When a person dies, their assets—real estate included—pass into an estate. The personal representative (sometimes called an executor) inventories all assets and notifies creditors. If the estate lacks sufficient cash to pay debts and expenses, the representative…
How do I recover excess property tax payments I made on co-owned inherited real estate in North Carolina? Detailed Answer In North Carolina, property taxes on inherited real estate become an expense of the estate while administration remains open. You can recover excess payments by first seeking reimbursement from the estate’s personal representative. If the…
How do I find and select an attorney to draft a will and trust in North Carolina? Answer Planning your estate by creating a will and trust provides peace of mind. In North Carolina, properly drafted documents meet legal requirements under Chapter 31 of the North Carolina General Statutes (wills) and the Uniform Trust Code…
How to Access Life Insurance Proceeds for a Minor Beneficiary in North Carolina Probate Detailed Answer When a minor inherits life insurance proceeds in North Carolina, the insurance company cannot pay those funds directly to the child. State law requires that an adult take legal responsibility for managing the proceeds until the minor reaches the…
How does a receipt and refunding agreement accelerate interim estate distributions without court petitions in North Carolina? 1. Detailed Answer In North Carolina probate, a personal representative normally must wait to resolve creditor claims and meet statutory waiting periods before distributing estate assets. Under N.C. Gen. Stat. § 28A-15-10, a personal representative may make interim…
Why does North Carolina list real estate in Part Two of the probate inventory, and how can it cover debts? Detailed Answer When someone dies in North Carolina, the personal representative (also called executor or administrator) must file a detailed listing of the estate’s assets with the clerk of superior court. Under G.S. 28A-14-2, this…
