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Probate Q&A Series

If beneficiaries can’t agree on keeping or selling rental properties, how can the properties be appraised and then divided or sold in a way that’s fair to everyone? nc

If beneficiaries can’t agree on keeping or selling rental properties, how can the properties be appraised and then divided or sold in a way that’s fair to everyone? – North Carolina Short Answer In North Carolina, fairness usually comes from using an independent, qualified appraisal (or multiple appraisals) and then choosing a court-supervised path that…

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Probate Q&A Series

Can a trustee make distributions or reimbursements to themselves before the trust and estate accounting is finalized, and how should those payments be documented? nc

Can a trustee make distributions or reimbursements to themselves before the trust and estate accounting is finalized, and how should those payments be documented? – North Carolina Short Answer In North Carolina, a trustee can generally reimburse themselves for expenses they properly incurred or advanced to administer the trust, and the trustee can pay those…

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Probate Q&A Series

How can co-beneficiaries handle rental income, repairs, and contractor payments during administration without creating liability or accusations of misuse of funds? nc

How can co-beneficiaries handle rental income, repairs, and contractor payments during administration without creating liability or accusations of misuse of funds? – North Carolina Short Answer In North Carolina, co-beneficiaries (and especially co-fiduciaries like co-trustees or co-executors) can reduce liability and conflict by (1) confirming who has legal authority over each rental property, (2) keeping…

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Probate Q&A Series

What documents do we need to prove trustee or executor authority to banks, brokerages, and retirement plan administrators so they will release information and process transfers? nc

What documents do we need to prove trustee or executor authority to banks, brokerages, and retirement plan administrators so they will release information and process transfers? – North Carolina Short Answer In North Carolina, banks and brokerages usually require (1) a certified death certificate and (2) current court-issued Letters Testamentary or Letters of Administration to…

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Probate Q&A Series

How do we handle creditor bills from the decedent’s final expenses while we’re still opening the estate and sorting out which account should pay them? nc

How do we handle creditor bills from the decedent’s final expenses while we’re still opening the estate and sorting out which account should pay them? – North Carolina Short Answer In North Carolina, the safest approach is usually to (1) get a personal representative (executor/administrator) qualified with the Clerk of Superior Court, (2) track every…

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Probate Q&A Series

What should I do if I received court-related paperwork about a deceased parent’s property but I don’t know what the case is about? nc

What should I do if I received court-related paperwork about a deceased parent’s property but I don’t know what the case is about? – North Carolina Short Answer In North Carolina, court paperwork about a deceased parent’s land usually means a probate (estate) file with the Clerk of Superior Court, or a land-related “special proceeding”…

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Probate Q&A Series

What can we do if the other co-administrator won’t share account statements or won’t communicate directly while we’re trying to complete the inventory? nc

What can we do if the other co-administrator won’t share account statements or won’t communicate directly while we’re trying to complete the inventory? – North Carolina Short Answer In North Carolina, co-administrators are fiduciaries and the estate still must file a complete inventory and later accountings with the Clerk of Superior Court. If one co-administrator…

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