Can an executor deed property to a custodian under the Uniform Transfers to Minors Act so a child owns it upon reaching adulthood? – North Carolina Short Answer Sometimes. In North Carolina, a personal representative can transfer (including by deed) an interest in real estate to a UTMA custodian for a minor, but the authority…
What documents should I gather to support a demand to the trustee or the person controlling the trust assets? – North Carolina Short Answer In North Carolina, a strong written demand to a trustee (or someone controlling trust assets) is supported by documents that prove (1) the trust exists, (2) the requester has standing as…
How do I close an estate or brokerage account when there’s a tiny balance left in a margin position? – North Carolina Short Answer In North Carolina, a personal representative generally cannot finish closing an estate until the brokerage account is fully converted to cash, moved into the estate’s account, and shown on the estate’s…
How do I notify a credit card company about a death and close the account? – North Carolina Short Answer In North Carolina, the safest way to notify a credit card company about a death and close the account is to contact the creditor’s estate or bereavement department, provide proof of death, and provide proof…
Do I need to open full probate if the only assets are household items, a vehicle, and a bank account that already lists a family member? – North Carolina Short Answer Not always. In North Carolina, full probate (a full estate administration with a court-appointed personal representative) is often unnecessary when the remaining property is…
What documents do insurers typically require to cancel a deceased person’s policy and release funds to the estate? – North Carolina Short Answer In North Carolina, insurers usually ask for proof of death and proof of who has legal authority to act for the estate before they will cancel a deceased person’s policy and reissue…
Do I have to take possession of my parent’s car or can I disclaim it if I can’t find it or don’t want it? – North Carolina Short Answer In North Carolina, an heir generally does not have to physically take possession of a decedent’s car just because it is part of the estate. If…
What estate assets bypass probate when they are owned jointly with others? – North Carolina Short Answer In North Carolina, property owned with a true right of survivorship usually passes automatically to the surviving co-owner and does not pass under the will through probate. Common examples include joint bank accounts or jointly owned securities that…
What happens if the estate is already opened or distributed—can I still make a claim as a newly discovered child? – North Carolina Short Answer Sometimes, yes—but timing and proof matter. In North Carolina, a newly discovered child may still be able to assert heirship even if an estate is already open or has been…
Do life insurance, retirement accounts, or annuities that name me as beneficiary have to be included in the probate inventory or accounting? – North Carolina Short Answer Usually, no. In North Carolina, life insurance, retirement accounts, and annuities that name an individual beneficiary typically pass outside the probate estate and are not listed on the…
