How are IRAs and Roth IRAs transferred to beneficiaries or through probate after the account holder’s death in North Carolina?

How are IRAs and Roth IRAs transferred to beneficiaries or through probate after the account holder’s death in North Carolina? 1. Detailed Answer When an IRA or Roth IRA owner dies in North Carolina, the account normally passes directly to the named beneficiary. This transfer relies on the beneficiary designation form maintained by the financial…

What steps must a personal representative take when a late-discovered child comes forward in an intestate estate in North Carolina?

What steps must a personal representative take when a late-discovered child comes forward in an intestate estate in North Carolina? 1. Detailed Answer When someone dies without a will in North Carolina, the court appoints a personal representative to settle the estate under N.C.G.S. § 28A-13-1. If a previously unknown child comes forward after the…

What documents should I gather before contacting a North Carolina probate attorney about an estate?

What Documents Should I Gather Before Contacting a North Carolina Probate Attorney About an Estate? Understanding the Importance of Document Preparation When someone passes away, their estate enters the probate process in North Carolina. Probate is the court-supervised procedure for distributing assets to heirs or beneficiaries. To get started efficiently, you should gather key documents…