How are proceeds from a deceased parent’s pending personal-injury claim paid out when there’s a small-estate affidavit instead of full probate? nc

How are proceeds from a deceased parent’s pending personal-injury claim paid out when there’s a small-estate affidavit instead of full probate? – North Carolina Short Answer In North Carolina, a pending personal-injury claim usually cannot be paid directly to an heir just because a small-estate affidavit is being used for other assets. Most insurers and…

How does trust administration work when a company is named as trustee and the beneficiaries haven’t been contacted yet? nc

How does trust administration work when a company is named as trustee and the beneficiaries haven’t been contacted yet? – North Carolina Short Answer In North Carolina, a corporate trustee generally takes control of trust assets after the settlor’s death, pays appropriate expenses, and then makes distributions under the trust’s terms. Even if beneficiaries have…