How do creditor priority rules work when there are both mortgage-related claims and wage-related claims against an estate? nc

How do creditor priority rules work when there are both mortgage-related claims and wage-related claims against an estate? – North Carolina Short Answer In North Carolina, a valid mortgage or deed of trust is generally treated as a secured claim that gets paid from its collateral first (the specific property or its sale proceeds), before…

What happens at the disbursement hearing after the house closing, and how is the sale money divided between creditors and heirs? nc

What happens at the disbursement hearing after the house closing, and how is the sale money divided between creditors and heirs? – North Carolina Short Answer In North Carolina, the disbursement hearing is where the Clerk of Superior Court reviews the closing numbers and enters an order directing who gets paid from the sale proceeds…

What steps should I take if I suspect someone is trying to change distributions or proceed without my consent or knowledge? – nc

What steps should I take if I suspect someone is trying to change distributions or proceed without my consent or knowledge? – North Carolina Short Answer In North Carolina, a personal representative generally cannot “change” who inherits under a valid will or the intestacy laws, but they can sometimes take actions that affect what is…

What expenses and fees get paid out of the estate funds before any distribution to heirs? nc

What expenses and fees get paid out of the estate funds before any distribution to heirs? – North Carolina Short Answer In North Carolina, an estate generally pays administration costs and legally valid claims before any money is distributed to heirs or beneficiaries. The personal representative (executor/administrator) must follow a statutory priority list for paying…

If the estate is above the small‑estate threshold, what steps are required for full probate and can anything be streamlined? nc

If the estate is above the small‑estate threshold, what steps are required for full probate and can anything be streamlined? – North Carolina Short Answer In North Carolina, if an estate does not qualify for a small-estate shortcut, the usual path is a formal estate administration opened with the Clerk of Superior Court, where a…