Probate Q&A Series

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Probate Q&A Series ·

How can I confirm whether a loan from a parent to a family business was repaid or whether the business interest was properly bought out before it was sold? – NC

How can I confirm whether a loan from a parent to a family business was repaid or whether a business interest was properly bought out before it was sold? – NC Short Answer In North Carolina, the usual way to confirm whether a parent’s loan to a family business was repaid or whether a business…

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Probate Q&A Series ·

Can the estate’s lawyer hold the remaining estate funds in a trust account and send the distribution checks to the beneficiaries? – NC

Can the estate’s lawyer hold the remaining estate funds in a trust account and send the distribution checks to the beneficiaries? – North Carolina Short Answer Usually, yes. In North Carolina, once the estate is ready for final distribution, the personal representative may work through the estate’s lawyer to move remaining estate funds into the…

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Probate Q&A Series ·

Can prior notice to creditors in one jurisdiction satisfy or reduce publication requirements in another jurisdiction? – NC

Can prior notice to creditors in one jurisdiction satisfy or reduce publication requirements in another jurisdiction? – NC Short Answer Usually no. In North Carolina probate, an estate opened here generally must follow North Carolina’s own notice-to-creditors process, even if a related estate in another jurisdiction already published notice and no claims were filed there.…

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Probate Q&A Series ·

Does posting a foreclosure notice on the property count as proper notice if the estate representative and heirs don’t live there? – NC

Does posting a foreclosure notice on the property count as proper notice if the estate representative and heirs don’t live there? – NC Short Answer Usually not by itself. In North Carolina, a lender or substitute trustee generally must serve the foreclosure hearing notice on each party entitled to notice using a method allowed for…

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Attorney Jared Pierce
Attorney Jared Pierce
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