Is it a conflict of interest for an attorney in North Carolina to handle probate administration when they previously drafted the will?

Is it a conflict of interest for an attorney in North Carolina to handle probate administration when they previously drafted the will? Detailed Answer In North Carolina, an attorney may wear two hats in an estate case: one as the drafter of a will and another as the personal representative’s legal advisor during probate. At…

How do multi-state issues and conflicting legal opinions affect whether escrow funds from a failed property purchase should be processed through probate in North Carolina?

How do multi-state issues and conflicting legal opinions affect whether escrow funds from a failed property purchase should be processed through probate in North Carolina? Understanding Escrow Funds and Probate in North Carolina Escrow funds represent money held by a neutral third party under a real estate contract. When a property purchase fails, the buyer…

How does the hourly retainer fee work in a probate case, and what happens if the estate’s assets are insufficient to cover ongoing legal fees?

How an Hourly Retainer Fee Works in a North Carolina Probate Case 1. Detailed Answer When you hire an attorney to handle a probate administration in North Carolina, you typically enter into a written fee agreement. In most cases, the lawyer will require an hourly retainer fee, sometimes called a deposit or advance, before beginning…

How does the creditor notice period during probate in North Carolina affect my ability to sell an inherited property?

How does the creditor notice period during probate in North Carolina affect my ability to sell an inherited property? Detailed Answer When someone passes away in North Carolina, the personal representative (formerly called executor) must notify creditors of the estate. Under N.C. Gen. Stat. § 28A-18-3, the personal representative must: Publish notice in a newspaper…

What is the process for distributing the sale proceeds and handling attorney fees after the hearing is scheduled?

What is the process for distributing the sale proceeds and handling attorney fees after the hearing is scheduled? Detailed Answer In North Carolina probate, once the clerk has scheduled and held the hearing to confirm the sale of estate property and to allow commissions and attorney fees, the personal representative follows several steps to distribute…

How do I open a probate estate and legally transfer assets once I’m designated as the personal representative?

How to Open a Probate Estate and Transfer Assets in North Carolina Detailed Answer After a court appoints you as personal representative, you manage the estate, pay debts and distribute assets. North Carolina’s probate statutes guide each step. Follow this process to open the estate and transfer property legally. 1. File a Petition with the…