Do I need court approval to negotiate with creditors or pay them out of order as administrator?: Clear guidance for North Carolina administrators

Do I need court approval to negotiate with creditors or pay them out of order as administrator? – North Carolina Short Answer In North Carolina, you may negotiate with ordinary creditors and decide whether to accept, reject, or settle claims without a prior court order—so long as you follow the required payment priority and treat…

What happens if the estate account doesn’t have enough funds to pay all debts?: North Carolina probate

What happens if the estate account doesn’t have enough funds to pay all debts? – North Carolina Short Answer In North Carolina, if an estate is short on cash, the administrator must pay debts in a strict statutory order after costs of administration and any year’s allowances. Higher-priority claims are paid first; lower-priority creditors may…

How can I prevent my parent’s creditors from forcing the sale of our family home?: North Carolina probate options

How can I prevent my parent’s creditors from forcing the sale of our family home? – North Carolina Short Answer In North Carolina, creditors cannot directly force a sale of estate real estate; a sale happens only if the personal representative (administrator) asks the Clerk of Superior Court for authority to sell because the estate…

What documents should I provide to verify my share of the rental income and appraisal?: North Carolina partition buyout checklist

What documents should I provide to verify my share of the rental income and appraisal? – North Carolina Short Answer Bring clear proof of what rent was collected, what expenses were paid, and a reliable valuation. In North Carolina partition buyouts, you typically show leases, rent rolls, bank statements, tax returns (Schedule E), property management…