Probate Q&A Series

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Probate Q&A Series

What are an executor’s duties when collecting bank accounts and certificates of deposit and putting them into an estate account? – NC

What are an executor’s duties when collecting bank accounts and certificates of deposit and putting them into an estate account? – NC Short Answer In North Carolina, an executor generally must identify probate bank accounts and certificates of deposit, collect them using the executor’s Letters Testamentary, and place estate funds into a separate estate account…

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Probate Q&A Series

Can I challenge transactions or accounts if I believe my spouse committed fraud that affects the estate? – NC

Can I challenge transactions or accounts if I believe my spouse committed fraud that affects the estate? – NC Short Answer Yes. Under North Carolina law, suspicious transfers, joint accounts, payable-on-death funds, and other transactions that may have reduced or hidden estate assets can often be challenged through the estate administration process or a related…

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Probate Q&A Series

Can a creditor or servicer refuse to discuss an estate claim if the decedent’s name doesn’t match their records exactly? NC

Can a creditor or servicer refuse to discuss an estate claim if the decedent’s name doesn’t match their records exactly? – NC Short Answer Usually, yes. In North Carolina, a creditor or loan servicer may decline to discuss or confirm an estate claim until the caller provides enough information to identify the correct account and…

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Probate Q&A Series

What can be done if relatives are using, renting, or paying taxes on estate property before the estate is formally administered? – NC

What can be done if relatives are using, renting, or paying taxes on estate property before the estate is formally administered? – NC Short Answer In North Carolina, the first step is usually to open the estate and have a personal representative appointed by the Clerk of Superior Court. Once appointed, that representative can gather…

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