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Probate Q&A Series ·

If the estate pays a settlement, does that fully resolve the creditor’s claim so they can’t come back for more later? – NC

If the estate pays a settlement, does that fully resolve the creditor’s claim so they can’t come back for more later? – NC Short Answer Usually, no payment alone does not automatically prevent a creditor from asking for more later. In North Carolina, the claim is most safely resolved only if the written settlement agreement…

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Probate Q&A Series ·

What happens when two people file competing petitions to be appointed administrator of an estate? NC

What happens when two people file competing petitions to be appointed administrator of an estate? – NC Short Answer In North Carolina, when two people file competing petitions to become administrator of an intestate estate, the Clerk of Superior Court decides who should be appointed. The clerk usually looks first at statutory priority, any renunciations…

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Probate Q&A Series ·

How do I gather missing financial records for a parent’s estate administration? – NC

How do I gather missing financial records for a parent’s estate administration? – NC Short Answer In North Carolina, the personal representative of a parent’s estate usually gathers missing financial records by using the court appointment papers to request statements, balances, and transaction histories from banks and other asset holders. The key is to collect…

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Can shared ownership of a house after divorce hurt me if the other person makes late payments or lets the property fall into bad condition? – NC

Can shared ownership of a house after divorce hurt me if the other person makes late payments or lets the property fall into bad condition? – NC Short Answer Yes. In North Carolina, shared ownership after divorce can create real risk if one former spouse stays on title while the other remains responsible for the…

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Is it possible to buy out a co-owner’s share instead of selling the entire property, and how is the buyout amount determined? NC

Is it possible to buy out a co-owner’s share instead of selling the entire property, and how is the buyout amount determined? – NC Short Answer Yes. In North Carolina, co-owners can often resolve a partition dispute by having one owner buy another owner’s interest instead of selling the whole property, but the buyout usually…

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Probate Q&A Series ·

What happens if a bank can’t locate or won’t release information about a deceased person’s accounts to the estate? NC

What happens if a bank can’t locate or won’t release information about a deceased person’s accounts to the estate? – NC Short Answer In North Carolina, a bank usually does not have to release a deceased person’s account information to just anyone. The bank will often require the duly appointed personal representative to provide certified…

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