What happens if the other co-administrator sold an estate vehicle and won’t provide receipts or deposit the proceeds into the estate account? NC

What happens if the other co-administrator sold an estate vehicle and won’t provide receipts or deposit the proceeds into the estate account? – North Carolina Short Answer In North Carolina, a co-administrator who sells an estate vehicle still has to account for the sale and treat the proceeds as estate property. If the co-administrator will…

Who is responsible for getting the trust’s tax ID number, and whose name should be listed as trustee on the paperwork? NC

Who is responsible for getting the trust’s tax ID number, and whose name should be listed as trustee on the paperwork? – North Carolina Short Answer In North Carolina, the trustee who is actually serving (including a corporate trustee) is typically responsible for obtaining the trust’s federal tax ID number (EIN) and using it for…

How do I get a promissory note and related deed of trust assigned from the estate to me as an early distribution so I can manage payments intended for a minor beneficiary? NC

How do I get a promissory note and related deed of trust assigned from the estate to me as an early distribution so I can manage payments intended for a minor beneficiary? – North Carolina Short Answer In North Carolina, a promissory note and related deed of trust are typically handled by the personal representative…

When an estate is reopened to collect unclaimed property, do we still have to make distributions to heirs if there are reimbursable estate expenses? NC

When an estate is reopened to collect unclaimed property, do we still have to make distributions to heirs if there are reimbursable estate expenses? – North Carolina Short Answer Yes—under North Carolina probate practice, a reopened estate generally still follows the normal order of administration: valid estate expenses get paid or reimbursed first, and heirs…