What steps must a North Carolina personal representative take to handle SBA and other creditor claims in probate?

What duty does a North Carolina personal representative have to negotiate SBA and other creditor claims in a probate estate? Under North Carolina law, a personal representative (sometimes called an executor or administrator) must discharge valid claims against the estate in the order set out by statute. In particular, G.S. 28A-15-3 through G.S. 28A-15-5 list…

How can heirs obtain an early distribution of their inheritance under North Carolina probate law?

What Is an Estate Advance (Early Distribution) in North Carolina Probate? An estate advance—often called an early distribution—lets heirs receive funds from a probate estate before final settlement. In North Carolina, heirs may face delays waiting on petitions for fees, reimbursements, creditor notices, and formal accounting. An early distribution can ease financial pressures by advancing…

How can I retain an inherited North Carolina home in probate without selling it to settle creditor claims?

FAQ 1: How Can I Retain an Inherited Home in Probate without Selling It to Settle Creditor Claims? When a North Carolina resident dies, all of the decedent’s debts must be addressed before distributing any assets. Real property, like a family home, often carries significant creditor claims such as mortgages, medical bills or credit-card balances.…

What court permissions and precautions must a North Carolina personal representative take before relocating estate vehicles encumbered by foreclosure?

Can I Relocate Estate Vehicles to Another Property When the Real Property Faces a Deed of Trust or Foreclosure? If you serve as personal representative for an estate that owns vehicles parked at a mortgaged address, you may worry about losing access when the lender enforces its deed of trust. For example, in Knightdale (Wake…