What documents must I provide to a financial institution and plan sponsor to complete an estate account distribution?

Probate Q&A Series

What documents must I provide to a financial institution and plan sponsor to complete an estate account distribution? – North Carolina Short Answer In North Carolina, an executor typically needs: certified Letters (Testamentary or of Administration), a certified death certificate, the estate’s EIN with a completed IRS Form W-9, and the institution’s distribution/claim forms. Most…

Do I need court approval or a formal probate order to withdraw funds from a decedent’s employer-sponsored retirement plan?

Probate Q&A Series

Do I need court approval or a formal probate order to withdraw funds from a decedent’s employer-sponsored retirement plan? – North Carolina Short Answer Usually, no. In North Carolina, if the estate is the named beneficiary (or no beneficiary is on file), a duly qualified personal representative with active Letters (Letters Testamentary or Letters of…

Can I still claim life insurance and retirement benefits if the death certificate lists me incorrectly as a spouse?: North Carolina

Probate Q&A Series

Can I still claim life insurance and retirement benefits if the death certificate lists me incorrectly as a spouse? – North Carolina Short Answer Yes. In North Carolina, life insurance and most retirement benefits follow the beneficiary designation, not the death certificate. A mistaken entry that lists you as a spouse does not create a…

How do I access funds in a decedent’s individual bank account when there’s no payable-on-death designation?

Probate Q&A Series

How do I access funds in a decedent’s individual bank account when there’s no payable-on-death designation? – North Carolina Short Answer In North Carolina, money in a decedent’s sole bank account with no beneficiary is a probate asset. You can usually access it by: (1) filing a small-estate “collection by affidavit” with the Clerk of…

How can I petition the court in North Carolina to correct my partner’s death certificate to unmarried status and remove surviving spouse?

Probate Q&A Series

How can I petition the court in North Carolina to correct my partner’s death certificate to unmarried status and remove surviving spouse? – North Carolina Short Answer In North Carolina, you typically ask the Clerk of Superior Court (Estates Division) to declare that the decedent died unmarried and that no surviving spouse exists, then use…

How are court fees and creditor claims paid from a probate estate and who handles that process?: North Carolina

Probate Q&A Series

How are court fees and creditor claims paid from a probate estate and who handles that process? – North Carolina Short Answer In North Carolina, the personal representative (executor or administrator) pays court costs, approved creditor claims, and estate expenses from the estate bank account in a strict statutory order. The Clerk of Superior Court…

Can an estate administrator be replaced or removed when they no longer want to serve, and what steps are required?: North Carolina process and steps

Probate Q&A Series

Can an estate administrator be replaced or removed when they no longer want to serve, and what steps are required? – North Carolina Short Answer Yes. In North Carolina, an administrator who no longer wishes to serve may petition the Clerk of Superior Court to resign, and the clerk will appoint a successor after required…