Do heirs need to sign acknowledgments of receipt for their share of estate assets, and how should that be documented?: North Carolina

Do heirs need to sign acknowledgments of receipt for their share of estate assets, and how should that be documented? – North Carolina Short Answer North Carolina law does not require a specific form of acknowledgment, but the Clerk of Superior Court expects clear proof of each distribution. The standard practice is to obtain a…

How do I claim life insurance proceeds named to a deceased parent when there is no contingent beneficiary?: North Carolina

How do I claim life insurance proceeds named to a deceased parent when there is no contingent beneficiary? – North Carolina Short Answer In North Carolina, if the named life insurance beneficiary died and no contingent beneficiary was listed, the policy usually pays to the insured parent’s estate (unless the policy itself directs payment to…

How do I locate and inventory my parents’ bank accounts, home equity, vehicle, and land for probate?: North Carolina

How do I locate and inventory my parents’ bank accounts, home equity, vehicle, and land for probate? – North Carolina Short Answer In North Carolina, you first qualify with the Clerk of Superior Court as the estate administrator to get “Letters,” which give you legal authority to gather information and access assets. After you qualify,…

What triggers a formal probate even when estate value is below the small estate limit?: Clear triggers under North Carolina law

What triggers a formal probate even when estate value is below the small estate limit? – North Carolina Short Answer Even if an estate appears to fit North Carolina’s small-estate options, full probate is often required when you need court‑issued authority (Letters) to act, when real estate must be sold or used to pay debts,…

Do joint survivorship assets need to be reported and included in probate if there are potential creditor claims?: Clear rules for North Carolina joint accounts and CDs

Do joint survivorship assets need to be reported and included in probate if there are potential creditor claims? – North Carolina Short Answer In North Carolina, joint accounts and CDs with right of survivorship usually pass outside probate and are not counted as probate assets. However, they must be disclosed to the Clerk as nonprobate…

How do I transfer a U.S. savings bond from an estate to a beneficiary using Treasury Direct forms?: North Carolina

How do I transfer a U.S. savings bond from an estate to a beneficiary using Treasury Direct forms? – North Carolina Short Answer In North Carolina, the personal representative (executor or administrator) transfers a U.S. savings bond based on how the bond is registered. If the decedent was the sole owner, the personal representative can…

Can I submit a Medicare claim if the death certificate hasn’t been amended yet?: Answer under North Carolina probate law

Can I submit a Medicare claim if the death certificate hasn’t been amended yet? – North Carolina Short Answer Yes—an executor in North Carolina can move the estate forward and address Medicare-related issues even if the death certificate amendment is pending. You may submit or respond to Medicare items the estate controls, but Medicare or…