What documents does the lender usually require to release a deceased borrower’s loan records to the estate representative? nc

What documents does the lender usually require to release a deceased borrower’s loan records to the estate representative? – North Carolina Short Answer In North Carolina, a lender usually releases a deceased borrower’s loan records after receiving proof of death and proof that the requester has legal authority to act for the estate. In most…

How do I get itemized credit-card statements for a deceased person’s account to verify what the estate actually owes? nc

How do I get itemized credit-card statements for a deceased person’s account to verify what the estate actually owes? – North Carolina Short Answer In North Carolina, the cleanest way to obtain itemized credit-card statements for a deceased person is for the estate’s personal representative (executor/administrator) to request them directly from the card issuer or…

Can a partition case move forward while the estate administration is still pending? nc

Can a partition case move forward while the estate administration is still pending? – North Carolina Short Answer Yes, a North Carolina partition case can often move forward even while the estate administration is still pending, because partition is a Superior Court proceeding between co-owners. The practical issue is whether the estate (through the personal…

What happens to a car with an auto loan after the borrower dies if the vehicle has already been voluntarily surrendered or repossessed? – nc

What happens to a car with an auto loan after the borrower dies if the vehicle has already been voluntarily surrendered or repossessed? – North Carolina Short Answer In North Carolina, if the vehicle was already voluntarily surrendered or repossessed before (or around) the borrower’s death, the car is usually no longer an estate asset…

How can co-trustees set up a transparent system for paying trust expenses and tracking reimbursements so everyone can see what’s being paid and why? nc

How can co-trustees set up a transparent system for paying trust expenses and tracking reimbursements so everyone can see what’s being paid and why? – North Carolina Short Answer In North Carolina, co-trustees can create transparency by (1) separating money and records by trust/sub-trust, (2) adopting a written approval-and-payment workflow, and (3) issuing regular reports…

Can retirement accounts be split into inherited accounts for each beneficiary instead of being paid into the trust, and what happens if the plan won’t allow that? nc

Can retirement accounts be split into inherited accounts for each beneficiary instead of being paid into the trust, and what happens if the plan won’t allow that? – North Carolina Short Answer Often, yes: if a retirement account is payable at death to a trust, the custodian may still be able to create separate “inherited”…

What happens if one trustee or family member won’t provide the original will, and how can we get it filed without an in-person handoff? nc

What happens if one trustee or family member won’t provide the original will, and how can we get it filed without an in-person handoff? – North Carolina Short Answer In North Carolina, the will is filed and probated through the Clerk of Superior Court (the probate court). If a person in North Carolina has the…