How Can Co-Heirs Negotiate a Buy-Out of an Inherited Property Interest? When one heir wants to retain an inherited home and another prefers cash, negotiating a buy-out can avoid a lengthy court hearing. In North Carolina, heirs may enter into a private settlement under N.C. Gen. Stat. § 28A-15-1 et seq. rather than file a…
FAQ 1: How Can an Executor Obtain Missing 1099 Forms for a North Carolina Estate? As personal representative of an estate in Durham County or elsewhere in North Carolina, you must gather all of the decedent’s income information to prepare estate and final individual income tax returns. A common stumbling block arises when a financial…
1. How Do I Petition for Surplus Funds After a Foreclosure Sale in North Carolina? In North Carolina, when a foreclosure sale generates more than the debt owed, the clerk holds the excess (“surplus funds”). Under N.C. Gen. Stat. § 45-21.38, you must file a special proceeding to claim these funds. Typically, the clerk requires…
FAQ 1: How Can I, as a Named Beneficiary, Access a Deceased Person’s Bank Account in North Carolina? When someone dies and names you as beneficiary on a payable-on-death (POD) or “in trust for” bank account, those assets pass outside of formal probate. Most North Carolina banks will only require two things: a certified copy…
FAQ 1: How Can I Keep an Inherited Home Out of Foreclosure During Probate in Wake County, North Carolina? When someone dies without a will in Wake County, their real property passes by intestate succession under N.C.G.S. § 29-14. As an heir, you inherit both title and responsibility for carrying costs. If the decedent’s home…
How Do I Open an Intestate Estate in Weaverville (Buncombe County), North Carolina? If someone dies without leaving a valid will in North Carolina, they’re said to have died “intestate.” Under N.C. Gen. Stat. § 28A-2-1 and following, their estate passes to heirs in a defined order. In Buncombe County—or wherever the decedent lived—you must…
FAQ 1: What should I do if my estate planning attorney leaves the firm before completing my will and health care power of attorney? If your attorney who was drafting your will and health care power of attorney leaves the firm, you still have several clear steps to keep your estate plan on track. First,…
Can I Withdraw My Application to Serve as Personal Representative in Wake County? In Wake County, you file an application with the Clerk of Superior Court to serve as personal representative under N.C.G.S. §28A-3-1. If you decide you cannot continue—perhaps because the estate has little or no assets—you may move to withdraw your application before…
Question 1: What steps follow the sale of estate real property in Buncombe County before heirs receive their distributions? After the personal representative (PR) completes the sale of estate real property, North Carolina law requires a special proceeding to approve distribution of sale proceeds. Under N.C. Gen. Stat. § 28A-18-2, the PR must file a…
