How can heirs verify beneficiary designations on retirement and brokerage accounts after a loved one’s death in the State of North Carolina?

How can heirs verify beneficiary designations on retirement and brokerage accounts after a loved one’s death in the State of North Carolina? Detailed Answer Losing a loved one is stressful. Learning how their financial assets transfer adds complexity. In North Carolina, beneficiary designations on retirement plans and transfer-on-death brokerage accounts generally bypass probate and pass…

How are sale proceeds and individual reimbursements handled and distributed in a North Carolina special proceeding on co-owned estate property?

How Are Sale Proceeds and Individual Reimbursements Handed and Distributed in a North Carolina Special Proceeding on Co-Owned Estate Property? 1. Detailed Answer When co-owners of estate property cannot agree on possession or use, North Carolina law provides a “special proceeding” under Article 19 of Chapter 28A of the General Statutes. This process allows a…

How can heirs and co-owners resolve competing claims and include all interested parties in a North Carolina partition action?

How can heirs and co-owners resolve competing claims and include all interested parties in a North Carolina partition action? Detailed Answer When multiple heirs or co-owners hold undivided interests in real property in North Carolina, disagreements may arise over use, value or division. A partition action under Chapter 46 of the North Carolina General Statutes…