How does North Carolina probate administration manage early distributions and real property expense receipts, and what steps must be taken—with proper documentation and receipt acknowledgments—to resolve disputes and ensure accurate accounting of estate expenses?

Probate Q&A Series

How does North Carolina probate administration manage early distributions and real property expense receipts, and what steps must be taken—with proper documentation and receipt acknowledgments—to resolve disputes and ensure accurate accounting of estate expenses? Detailed Answer In North Carolina probate, a personal representative may seek approval to make early distributions of estate assets before final…

How Can MCA Loans Avoid Repayment Obligations in Bankruptcy or Probate Cases Under North Carolina Law, and What Contract Terms or Legal Factors Might Render These Debts Unenforceable?

Probate Q&A Series

How Can MCA Loans Avoid Repayment Obligations in Bankruptcy or Probate Cases Under North Carolina Law? 1. Detailed Answer Merchant cash advances (MCAs) often look like loans, but lenders structure them as purchases of future receivables. Under North Carolina law, a true purchase of receivables does not create a debt obligation. In contrast, if a…

How can representatives determine if MCA loans are enforceable against a probate estate in North Carolina? Specifically, what contractual conditions—like default events or business dissolution—trigger personal guarantees, and how might predatory terms or fraudulent transfers allow an estate to avoid or challenge these liabilities?

Probate Q&A Series

How Can Representatives Determine if MCA Loans Are Enforceable Against a Probate Estate in North Carolina? Detailed Answer Merchant Cash Advance (MCA) agreements provide businesses with up-front funds in exchange for a share of future receivables or a fixed repayment schedule. Unlike traditional loans, MCAs often use daily or weekly remittances from credit card sales…

How can the structure and contract language of MCA loans prevent personal liability in probate in North Carolina when a business shuts down or an owner dies, and what legal strategies exist to challenge predatory MCA practices?

Probate Q&A Series

Detailed Answer Merchant Cash Advance (MCA) transactions work as purchases of future receivables rather than traditional loans. With careful drafting, owners can shield personal assets from claims in probate if the business shuts down or the owner dies. Below we explain how proper structure and contract language accomplish this and outline North Carolina legal strategies…

Conditional Sale Provisions in Handwritten Wills: Navigating North Carolina Probate Law Enforcement

Probate Q&A Series

Conditional Sale Provisions in Handwritten Wills: Navigating North Carolina Probate Law Enforcement Detailed Answer Handwritten wills in North Carolina must meet the same execution requirements as typed documents. North Carolina does not recognize wholly holographic wills. Every will must comply with N.C. Gen. Stat. §31-5, which demands a valid signature and two witnesses at the…

How can I secure a deed for a property when heirs automatically inherit it upon death—even if their names aren’t on the deed—especially if I need to purchase it before full probate and resolve back taxes?

Probate Q&A Series

How to Secure a Deed for Property When Heirs Automatically Inherit in North Carolina Detailed Answer Under North Carolina law, real estate passes to heirs or devisees automatically at the moment of a decedent’s death. See N.C. Gen. Stat. § 31-2.1 (testate vesting) and N.C. Gen. Stat. § 29-14 (intestate succession). Still, heirs won’t appear…

What legal steps should I take if another party contests my right to inherit my deceased brother’s property?

Probate Q&A Series

What legal steps should I take if another party contests my right to inherit my deceased brother’s property? Detailed Answer When someone challenges your claim to inherit property from your late brother’s estate, you must act promptly and follow North Carolina law. The process varies depending on whether your brother left a will (testate) or…

How can estate administration be handled remotely when I live far from the attorney’s office in North Carolina?

Probate Q&A Series

Detailed Answer Living far from your attorney’s office should not delay or complicate estate administration in North Carolina. Modern technology and recent changes in state law allow personal representatives, beneficiaries and attorneys to manage many probate tasks entirely online or by phone. Below we explain how you can handle estate administration remotely under North Carolina…