Frequently Asked Questions – Probate Administration in North Carolina 1. What is a Surplus Funds Case in North Carolina? In North Carolina, a surplus funds case arises when a foreclosure sale results in funds exceeding the debts owed by the property owner. These funds, known as “surplus funds,” are held by the clerk of court…
How Does Ownership of Real Estate By Spouses Get Handled During Probate? 1. Detailed Answer When one spouse dies in North Carolina, whether real estate goes through probate depends on how the surviving couple held title. North Carolina recognizes three common ways spouses own property: Tenancy by the Entirety: Only married couples can hold property…
FAQs on Probate and Partition Actions in North Carolina What is a Partition Action in North Carolina? Inheriting property with multiple owners can be complicated. If you find yourself sharing ownership of real estate and disagree with your co-owners about what to do with it, a legal solution exists: a partition action. This article explores…
Can a Power of Attorney Manage Assets After the Principal’s Death in North Carolina? 1. Detailed Answer A power of attorney (POA) is a legal document through which one person (the principal) grants another (the agent) authority to make decisions or manage assets on the principal’s behalf. In North Carolina, as soon as the principal…
How Do You Appoint an Out-of-State Personal Representative to Probate an Estate in North Carolina? Detailed Answer When someone passes away owning assets in North Carolina but names a personal representative who lives in another state, the out-of-state designee can serve in North Carolina probate only if certain steps meet the requirements of North Carolina…
Frequently Asked Questions about Probate Administration in North Carolina What Should I Do if My Parents Passed Away Without a Will in North Carolina? When a loved one passes away without leaving a will, it can be overwhelming to understand how to manage and distribute their estate. In North Carolina, this situation is known as…
FAQ: What Are the Responsibilities of an Executor in North Carolina? Responsibilities of an Executor in North Carolina An executor plays a crucial role in the administration of an estate in North Carolina. Their responsibilities are far-reaching and require diligence, organization, and a good understanding of the legal requirements outlined in Chapter 28A of the…
How Can We Expedite Estate Administration in North Carolina? Detailed Answer Estate administration in North Carolina involves several court steps under Chapter 28A of the North Carolina General Statutes. You can use specific procedures and tools to speed up the process, reduce costs, and minimize court delays. 1. Use the Summary Release for Small Intestate…
What is the Final Accounting in NC Probate Process, and Why is it Important? Probate can be a complex and emotion-laden process, especially when family relationships and financial distributions are involved. A critical component of completing a probate case in North Carolina is the final accounting. But what exactly does this entail? Understanding Final Accounting…
What is a Holographic Will in North Carolina? When preparing for the distribution of assets after death, many individuals choose to create a last will and testament. While the most common type of will is an attested written will, requiring preparation in writing, the testator’s signature, and witnessing by at least two competent individuals, North…
