What steps are required to update the mailing address on unclaimed property claims with the Treasury? – North Carolina Short Answer In North Carolina, the court-appointed personal representative can update the mailing address on an unclaimed property claim by sending a signed request to the Department of State Treasurer’s Unclaimed Property Division that references the…
What proof do I need to get an EIN for a company formed from estate assets? – North Carolina Short Answer In North Carolina, the estate and any company are separate taxpayers and each needs its own EIN. To get an estate EIN, the administrator uses the IRS application and presents Letters of Administration to…
What documents do I need to provide before starting a small estate proceeding? – North Carolina Short Answer In North Carolina, small estates are typically handled by a “collection by affidavit” or, if the surviving spouse is the sole heir or devisee, by “summary administration.” To start, you usually need a certified death certificate, any…
Can beneficiaries challenge asset valuations and request additional distributions? – North Carolina Short Answer Yes. In North Carolina, any interested beneficiary can object to inventory values and the proposed final account and ask the Clerk of Superior Court to correct values and adjust distributions. If the personal representative serves a written notice of the proposed…
How does a settlement reimbursement for valuation differences work in an estate administration? – North Carolina Short Answer In North Carolina, a personal representative may resolve a dispute over asset values by documenting the true value, correcting the record, and making a settlement payment that is shown on the final account. Practically, you gather evidence…
What steps do I take to correct undervalued sale prices in a probate accounting? – North Carolina Short Answer In North Carolina, report the actual sale and show the resulting gain or loss in your next estate account, with proof of how you set the price and conducted the sale. If the original inventory value…
What paperwork do I need to close my spouse’s sole bank account with the bank? – North Carolina Short Answer In North Carolina, if a bank account was only in your spouse’s name, the bank will usually require either (1) Letters from the Clerk of Superior Court or (2) a certified “Affidavit for Collection of…
Can I use the one-year statutory allowance to get trailers and a small bank account transferred to me? – North Carolina Short Answer Yes—North Carolina’s one-year spousal allowance lets a surviving spouse receive up to $60,000 of the decedent’s personal property, which can include titled trailers and a bank account held solely in the decedent’s…
Can I appoint a family member like my child to serve as personal representative instead of a public administrator? – North Carolina Short Answer In North Carolina, you cannot personally appoint the next personal representative. The Clerk of Superior Court makes that appointment based on statutory priority and suitability. If you wish to step down,…
How can I file the missing inventory and other probate paperwork as personal representative? – North Carolina Short Answer In North Carolina, a personal representative must file an Inventory (AOC-E-505) within three months of qualifying. If it is overdue, file it now and, if needed, ask the Clerk of Superior Court for a short extension…
