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Probate Q&A Series

What can I do if a financial institution won’t release estate account statements or tax forms to anyone except the named administrator? nc

What can I do if a financial institution won’t release estate account statements or tax forms to anyone except the named administrator? – North Carolina Short Answer In North Carolina, a financial institution will usually only release estate-account statements and tax forms to the court-appointed personal representative (the “administrator” or “executor”) unless that personal representative…

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Estate Planning Q&A Series

What happens to a trust arrangement when the person who held power of attorney dies but the trust’s creator is still living? nc

What happens to a trust arrangement when the person who held power of attorney dies but the trust’s creator is still living? – North Carolina Short Answer In North Carolina, a power of attorney does not “transfer” to anyone when the agent (the person acting under the power of attorney) dies. That agent’s authority ends,…

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Probate Q&A Series

What kinds of property and accounts can be included in a year’s allowance, and what happens if the total value is over the limit? nc

What kinds of property and accounts can be included in a year’s allowance, and what happens if the total value is over the limit? – North Carolina Short Answer In North Carolina, a spouse’s year’s allowance is generally satisfied from the deceased person’s personal property (not real estate), such as cash, bank accounts, vehicles, and…

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Probate Q&A Series

What happens if I refuse to cash a distribution check because I disagree with how the estate was handled—can the estate still be closed? nc

What happens if I refuse to cash a distribution check because I disagree with how the estate was handled—can the estate still be closed? – North Carolina Short Answer In North Carolina, a beneficiary refusing to cash a distribution check does not automatically stop the personal representative from trying to close the estate. To close…

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Real Estate Q&A Series

What risks should I watch for when buying a foreclosure property, like liens, back taxes, or property condition issues? nc

What risks should I watch for when buying a foreclosure property, like liens, back taxes, or property condition issues? – North Carolina Short Answer In North Carolina, the biggest risks when buying a foreclosure are (1) title problems that survive the foreclosure (especially property tax liens and some other recorded claims), (2) timing risk from…

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Probate Q&A Series

How do I access or transfer a certificate of deposit after the account owner dies if there is no payable-on-death beneficiary listed? nc

How do I access or transfer a certificate of deposit after the account owner dies if there is no payable-on-death beneficiary listed? – North Carolina Short Answer In North Carolina, if a certificate of deposit (CD) has no payable-on-death (POD) beneficiary and no surviving joint owner with survivorship rights, the CD usually becomes part of…

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Partition Action Q&A Series

How are sale proceeds and property-related expenses typically handled when a property is sold through a partition process? nc

How are sale proceeds and property-related expenses typically handled when a property is sold through a partition process? – North Carolina Short Answer In a North Carolina partition sale, the sale money is typically used first to pay sale-related costs and other approved charges, and the remaining “net proceeds” are then divided among the co-owners…

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Probate Q&A Series

Can a lawyer contact a retirement plan or bank on my behalf to get balances and paperwork, and what authorizations do I need to sign? nc

Can a lawyer contact a retirement plan or bank on my behalf to get balances and paperwork, and what authorizations do I need to sign? – North Carolina Short Answer Yes. In North Carolina, a probate lawyer can contact banks and retirement plan administrators to request date-of-death balances, beneficiary information, and account paperwork, but most…

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Probate Q&A Series

How can I challenge an estate administrator who sold estate vehicles for too little and won’t explain the pricing? nc

How can I challenge an estate administrator who sold estate vehicles for too little and won’t explain the pricing? – North Carolina Short Answer In North Carolina, a beneficiary can challenge an estate administrator’s low-priced vehicle sale by asking the Clerk of Superior Court (the estate court) to require a fuller report and accounting, and—if…

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Probate Q&A Series

What happens in probate if there are multiple properties and I’m not sure which ones are titled in my parent’s name? nc

What happens in probate if there are multiple properties and I’m not sure which ones are titled in my parent’s name? – North Carolina Short Answer In North Carolina probate, the personal representative must identify (often called “discover” or “marshal”) the decedent’s assets and report them to the Clerk of Superior Court, including any real…

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