How Can Heirs Structure Payment of Probate Attorney Fees in North Carolina, Including Retainer Deposits, Hourly Billing, and Inheritance-Share Assignments?

How Can Heirs Structure Payment of Probate Attorney Fees in North Carolina, Including Retainer Deposits, Hourly Billing, and Inheritance-Share Assignments? 1. Detailed Answer When heirs work together to administer an estate in North Carolina, they must decide how to pay probate attorney fees. State law permits three common payment methods: retainer deposits, hourly billing, and…

How can a guardian collect life insurance proceeds for a beneficiary under guardianship in North Carolina?

How can a guardian collect life insurance proceeds for a beneficiary under guardianship in North Carolina? Detailed Answer When a life insurance policy names a ward under guardianship as the beneficiary, the guardian must follow clear steps to collect those proceeds for the ward’s benefit. Under North Carolina law, the guardian holds the authority to…

Who Qualifies as an Heir under North Carolina Intestate Succession When a Decedent Has an Adopted Minor Child with Disabilities?

Who Qualifies as an Heir under North Carolina Intestate Succession When a Decedent Has an Adopted Minor Child with Disabilities? 1. Detailed Answer When someone dies without a valid will in North Carolina, the state’s intestate succession law determines who inherits the estate. The presence of an adopted minor child with disabilities raises important questions…

How do I match estate tax returns with partnership records to separate estate assets in the State of North Carolina probate and partition?

How do I match estate tax returns with partnership records to separate estate assets in the State of North Carolina probate and partition? Detailed Answer When a decedent holds a partnership interest, the personal representative must identify and value that interest before distribution. Start by reviewing the federal estate tax return (IRS Form 706) if…

What Are My First Duties as a North Carolina Estate Administrator After Obtaining Letters of Administration?

What Are My First Duties as a North Carolina Estate Administrator After Obtaining Letters of Administration? 1. Detailed Answer: Your Initial Responsibilities Once the Clerk of Superior Court issues letters of administration, you step into a role of trust. North Carolina law (Chapter 28A of the General Statutes) guides you every step of the way.…