What fiduciary duties and potential costs would I face as administrator of an estate with no direct probate assets? NC

What fiduciary duties and potential costs would I face as administrator of an estate with no direct probate assets? – North Carolina Short Answer In North Carolina, a court-appointed estate administrator (personal representative) owes fiduciary duties even if most property passed outside probate. Those duties usually include identifying any probate assets, filing required paperwork with…

In what order are creditor claims like a hospital bill paid before we fund the trust and distribute to beneficiaries? NC

In what order are creditor claims like a hospital bill paid before we fund the trust and distribute to beneficiaries? – North Carolina Short Answer In North Carolina, an estate generally should not fund a trust or distribute to beneficiaries until the personal representative has handled creditor notice, collected and reviewed claims, and paid valid…

How can I sign listing and sale documents for my stepfather’s house when my mom is the only heir and she’s out of state? NC

How can I sign listing and sale documents for my stepfather’s house when my mom is the only heir and she’s out of state? – North Carolina Short Answer In North Carolina, one person generally cannot sign real estate listing and closing documents for another adult unless that authority exists in writing, most commonly through…

What documents are required to close a deceased parent’s bank account during probate? NC

What documents are required to close a deceased parent’s bank account during probate? – North Carolina Short Answer In North Carolina probate, a bank usually requires proof that a personal representative has authority to act for the estate (typically certified Letters Testamentary or Letters of Administration), plus basic death and account information. For estate administration…

What steps do I need to take to compel a bank to provide statements from account opening through closure? NC

What steps do I need to take to compel a bank to provide statements from account opening through closure? – North Carolina Short Answer In North Carolina, the usual way to “compel” a bank to produce complete account statements is to first make a documented request as the executor (personal representative) using certified Letters Testamentary…