How can a personal representative navigate corporate debts and potential bankruptcy for a decedent’s business in Wake County, NC? When a decedent owns a North Carolina corporation, the personal representative (PR) must treat the business as an estate asset. Under N.C. Gen. Stat. § 28A‑13‑2, all property held in the decedent’s name—including corporate stock and officer…
How Can a Guardian Receive an Estate Distribution Check on Behalf of a Minor Beneficiary in North Carolina? Under North Carolina law, a minor cannot directly negotiate a probate distribution check. A parent or court‐appointed guardian steps in to receive and manage those funds. In counties like Wake County, the attorney writing the check will…
FAQ: How can a surviving spouse protect assets in an insolvent North Carolina probate estate? When a spouse dies leaving more debts than assets, North Carolina law grants the surviving spouse a “one‑year allowance” (sometimes called a spousal allowance) to shield personal property from creditors. Under N.C.G.S. §28A‑19‑2 and §28A‑19‑3, a surviving spouse may claim…
Q1: How Does Intestate Succession Work for Parents When an Adult Child Dies Without a Will in Wake County, NC? If your adult child dies without a valid will in North Carolina, state law determines who inherits. Under the Intestate Succession Act (N.C. Gen. Stat. § 29‑14(b)(2)), when there is no surviving spouse or descendants of…
Do I Need an Attorney to Prepare a Quitclaim Deed for North Carolina Probate Inheritance? When you inherit a home through probate, transferring title often requires a deed—commonly a quitclaim deed—to reflect the new owner. North Carolina law does not strictly require you to hire an attorney to draft that document. However, several considerations make…
1. How do I file a special proceeding to sell estate real property in North Carolina? When a decedent’s debts exceed the liquid assets in a North Carolina probate estate, you must petition the clerk of superior court for a “special proceeding” to sell real property. Under G.S. 28A‑15‑2, part two property—typically real estate—may be sold…
What duty does a personal representative have to negotiate creditor claims like the SBA in a North Carolina probate estate? In North Carolina, a personal representative must follow the creditor‐claim procedures set out in N.C. Gen. Stat. § 28A‑14‑1. After obtaining Letters Testamentary or Letters of Administration from the Wake County Clerk of Superior Court, the…
What Is an Early Distribution and How Does a Receipt and Refunding Agreement Protect Heirs in North Carolina Probate? In North Carolina probate, heirs sometimes need access to their inheritance before the estate fully closes. An early distribution allows the personal representative to advance funds to beneficiaries under a receipt and refunding agreement. This contract…
FAQ 1: Can an Engaged Partner or Cohabitant Inherit Property When a North Carolina Resident Dies Intestate? If someone in Wake County (or any North Carolina county) dies without a will, North Carolina’s intestacy statutes determine who inherits. An engaged partner or co‑tenant who never married the decedent generally has no automatic right to inherit…
