Can an estate administrator liquidate the shares and close the account with a written letter of instruction? NC

Can an estate administrator liquidate the shares and close the account with a written letter of instruction? – North Carolina Short Answer Often, yes—once the brokerage account has been transferred into the estate’s name and the administrator has authority under North Carolina probate to act, a brokerage will usually accept a signed letter of instruction…

Can I serve as the personal representative from out of state, and what are the requirements and limits? NC

Can I serve as the personal representative from out of state, and what are the requirements and limits? – North Carolina Short Answer Yes. North Carolina allows an out-of-state person to serve as a personal representative (executor or administrator), but a nonresident generally must appoint a North Carolina resident process agent and file that appointment…

What happens to an annuity naming a separated spouse when a separation agreement waived death benefits? NC

What happens to an annuity naming a separated spouse when a separation agreement waived death benefits? – North Carolina Short Answer In North Carolina, an annuity with a named beneficiary usually pays directly to that beneficiary outside of probate, even if the owner and beneficiary were separated. A separation agreement can waive a spouse’s right…

How can I get reimbursed for the funeral and bills I paid for my intestate sibling’s estate? NC

How can I get reimbursed for the funeral and bills I paid for my intestate sibling’s estate? – North Carolina Short Answer In North Carolina, reimbursement usually happens through the estate administration process: the personal representative (administrator) treats funeral and last-illness expenses as estate expenses and pays them from estate assets before distributing anything to…

Do I need court approval to sell estate real estate as an administrator, or is my appointment enough? NC

Do I need court approval to sell estate real estate as an administrator, or is my appointment enough? – North Carolina Short Answer In North Carolina, an administrator’s appointment alone usually is not enough to sell a decedent’s real estate. Court approval is typically required unless the personal representative has title to the real estate…