Do I need to reopen a probate estate in North Carolina if my deceased parent’s bank account remains active with unresolved liabilities?

Do I Need to Reopen a Probate Estate in North Carolina if My Deceased Parent’s Bank Account Remains Active with Unresolved Liabilities? Detailed Answer When you close a probate estate, the clerk of court issues an order settling the personal representative’s final account and discharging the representative. In North Carolina, that order generally ends the…

Can unresolved issues like pending bank accounts and creditor claims justify reopening a closed probate estate in North Carolina?

Can unresolved issues like pending bank accounts and creditor claims justify reopening a closed probate estate in North Carolina? Detailed Answer When a probate estate closes, a court issues a final decree of distribution and the personal representative typically receives a discharge. In North Carolina, however, closing an estate does not always end the court’s…

What should I do if unresolved estate issues, like an active bank account, persist after probate is closed in North Carolina?

What to Do When Unresolved Estate Issues Persist After Probate Closes in North Carolina Detailed Answer Even after a court officially closes probate, you may discover remaining assets, such as an active bank account. In North Carolina, the law allows you to reopen or correct an estate to handle those unadministered assets. Taking prompt action…

Do unresolved estate accounts and creditor claims in the State of North Carolina require reopening the closed probate estate?

Do unresolved estate accounts and creditor claims in the State of North Carolina require reopening the closed probate estate? Detailed Answer Under North Carolina law, the clerk of superior court closes a probate estate once it approves a personal representative’s final account and issues an order discharging that representative. After closure, the estate loses its…

How can I liquidate a probate stock account in North Carolina, and what does receiving dividend checks indicate?

How can I liquidate a probate stock account in North Carolina, and what does receiving dividend checks indicate? Detailed Answer When someone passes away owning a brokerage account in their name, that account becomes part of their probate estate. A personal representative (also called an executor or administrator) must follow specific steps under North Carolina…

How do I liquidate estate stock and manage dividend distributions during probate in North Carolina?

How do I liquidate estate stock and manage dividend distributions during probate in North Carolina? Detailed Answer When someone passes away, their financial assets, including stock holdings, become part of the probate estate. As the personal representative, you must follow North Carolina law to liquidate those stocks and handle any dividend payments correctly. 1. Obtain…