How can I find out if the corporate trustee will agree to serve and what asset threshold they require? – North Carolina Short Answer In North Carolina, a trustee accepts the role by following the method in the will/trust or by acting as trustee. Whether a corporate trustee will serve—and the minimum asset size they…
Can I access the decedent’s individual and retirement accounts before the trust is formally established? – North Carolina Short Answer Usually no. In North Carolina, retirement and transfer-on-death (TOD) brokerage accounts that name a testamentary trust pass directly to the trust—not to the estate—so the executor cannot withdraw or redirect those funds. The custodian will…
What steps do I need to take to appoint and confirm a trustee for a testamentary trust? – North Carolina Short Answer In North Carolina, start by checking the will to see who is named as trustee and how acceptance must occur. If the named trustee accepts as the will requires, court approval is often…
How can I verify and clear up the unrecorded deed and unpaid property taxes for co-owned estate land? – North Carolina Short Answer In North Carolina, real estate passes to heirs or devisees at death, but co-administrators may ask the Clerk of Superior Court for authority to take control and, if needed, sell land to…
What process should I follow to inventory and confirm ownership interests in multiple real property parcels in an estate? – North Carolina Short Answer In North Carolina, co-administrators must file an Inventory (AOC-E-505) within three months of qualifying, listing each parcel with a clear description and date-of-death value. Real estate vests in heirs or devisees…
When should I create my own will once estate administration is complete? – North Carolina Short Answer In North Carolina, you do not have to wait for an estate to close to make your own will—you can sign one at any time. An estate is considered “complete” when the Clerk of Superior Court audits and…
How do I handle a 401(k) distribution that went directly to beneficiaries and is not part of the probate estate? – North Carolina Short Answer In North Carolina, a 401(k) with a valid beneficiary designation passes directly to the named beneficiaries and is not part of the probate estate. As administrator, you generally do not…
What steps do I need to negotiate sale or partition of estate real property before appraisal? – North Carolina Short Answer In North Carolina, you can begin negotiating a sale or partition only after you confirm who holds title and whether the estate actually needs to sell property to pay debts. If the estate must…
Can I confirm or recover my beneficiary status on a retirement account managed by a financial servicer? – North Carolina Short Answer Yes, but you generally need court authority first. In North Carolina, a financial servicer will usually only release a decedent’s retirement account records to a court‑appointed representative (administrator). If no beneficiary designation exists…
How can I open a limited estate and get letters of administration for my parent’s estate? – North Carolina Short Answer In North Carolina, you can ask the Clerk of Superior Court to appoint you as a limited personal representative when no full estate administration is needed. You file an application showing no estate is…
