Probate Q&A Series

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Probate Q&A Series ·

What happens if the remainder beneficiaries want to force a sale while the surviving spouse has a life estate? nc

What happens if the remainder beneficiaries want to force a sale while the surviving spouse has a life estate? – North Carolina Short Answer In North Carolina, remainder beneficiaries usually cannot force the surviving spouse (the life tenant) to move out just because they want to sell. However, the remainder beneficiaries can file a partition…

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Probate Q&A Series ·

How do we decide whether to sell all of the inherited land or only enough to cover the estate’s debts and expenses? nc

How do we decide whether to sell all of the inherited land or only enough to cover the estate’s debts and expenses? – North Carolina Short Answer In North Carolina, the personal representative (executor/administrator) decides what estate assets to use to pay valid debts, taxes, and administration expenses, and the decision should be based on…

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Probate Q&A Series ·

Do beneficiaries have any right to stop or delay a sale if the executor is rushing to accept an offer or won’t communicate with the family? nc

Do beneficiaries have any right to stop or delay a sale if the executor is rushing to accept an offer or won’t communicate with the family? – North Carolina Short Answer In North Carolina, beneficiaries usually do not have to “sign off” on an executor’s sale of estate property, and an executor can often move…

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Probate Q&A Series ·

What happens to sale proceeds from corporate property when there is a dispute over who owns a minority interest—can the company distribute the money to someone else? nc

What happens to sale proceeds from corporate property when there is a dispute over who owns a minority interest—can the company distribute the money to someone else? – North Carolina Short Answer In North Carolina, when a closely held corporation knows there is a real dispute about who owns a minority interest, distributing sale proceeds…

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Probate Q&A Series ·

What can I do if a bank only provides partial statements for a deceased account holder’s accounts? nc

What can I do if a bank only provides partial statements for a deceased account holder’s accounts? – North Carolina Short Answer In North Carolina, the personal representative (executor/administrator) generally has authority to collect the decedent’s financial records needed to administer the estate. If a bank sends only partial statements, the usual next steps are…

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Probate Q&A Series ·

Can the estate distribute retirement-plan funds before the final income tax and estate tax issues are resolved? nc

Can the estate distribute retirement-plan funds before the final income tax and estate tax issues are resolved? – North Carolina Short Answer Sometimes, but it depends on who legally owns the retirement-plan funds and whether the personal representative can safely hold back enough money to cover taxes and other estate costs. In North Carolina, a…

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Probate Q&A Series ·

If the deceased had no will and had children, how is any wrongful-death settlement or estate money divided between the surviving spouse and the children? nc

If the deceased had no will and had children, how is any wrongful-death settlement or estate money divided between the surviving spouse and the children? – North Carolina Short Answer In North Carolina, a wrongful-death settlement is paid to the estate’s personal representative, but the remaining proceeds are distributed to the heirs under North Carolina’s…

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Probate Q&A Series ·

What happens if I can’t find the title or registration paperwork for property the estate might claim? nc

What happens if I can’t find the title or registration paperwork for property the estate might claim? – North Carolina Short Answer In North Carolina, missing title or registration paperwork does not automatically decide whether property belongs to an estate. The personal representative still must make a reasonable effort to identify, gather, and inventory estate…

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Attorney Jared Pierce
Attorney Jared Pierce
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