How do potential insurance proceeds or return‑of‑premium benefits factor into paying creditors and closing the estate? nc

How do potential insurance proceeds or return‑of‑premium benefits factor into paying creditors and closing the estate? – North Carolina Short Answer In North Carolina, insurance money only becomes part of the probate estate (and available to pay estate creditors) if it is payable to the estate or has no living/valid beneficiary under the policy’s terms.…

Can an heir or family member get access to the property to retrieve sentimental items before the estate sells it? nc

Can an heir or family member get access to the property to retrieve sentimental items before the estate sells it? – North Carolina Short Answer Sometimes, but not automatically. In North Carolina, the personal representative (executor/administrator) controls access to estate property during administration and can allow a supervised pickup of sentimental items if it does…

What happens to a home and other assets when someone dies without a will and only extended relatives try to control everything? nc

What happens to a home and other assets when someone dies without a will and only extended relatives try to control everything? – North Carolina Short Answer In North Carolina, when someone dies without a will, the home and other assets pass under the state’s intestate succession rules, not based on who is the loudest…

Who has authority to decide what happens to vehicles at a deceased parent’s home, and can I remove items I was told I could take? nc

Who has authority to decide what happens to vehicles at a deceased parent’s home, and can I remove items I was told I could take? – North Carolina Short Answer In North Carolina, the person with legal authority to decide what happens to a deceased parent’s vehicles and other estate property is usually the court-appointed…

What is the process for probating a single investment account that has no beneficiary when other accounts pass outside probate? nc

What is the process for probating a single investment account that has no beneficiary when other accounts pass outside probate? – North Carolina Short Answer In North Carolina, an investment account with no beneficiary designation usually becomes a probate asset, meaning the executor must use the estate administration process through the Clerk of Superior Court…

Can the estate use foreclosure surplus funds to pay debts before distributing the remainder, and what approvals are required? nc

Can the estate use foreclosure surplus funds to pay debts before distributing the remainder, and what approvals are required? – North Carolina Short Answer In North Carolina, once foreclosure surplus funds are properly determined to belong to the decedent’s estate and are in the estate account, the personal representative generally may use those funds to…

How do I get appointed as the estate administrator so I can handle the larger life insurance policy and other assets? nc

How do I get appointed as the estate administrator so I can handle the larger life insurance policy and other assets? – North Carolina Short Answer In North Carolina, an “estate administrator” is appointed by the Clerk of Superior Court (the probate court) and receives “Letters of Administration” that prove legal authority to act for…