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Probate Q&A Series ·

What documents do I need to prove there were no cryptocurrency transactions in a brokerage account during certain periods? NC

What documents do I need to prove there were no cryptocurrency transactions in a brokerage account during certain periods? – North Carolina Short Answer In a North Carolina estate accounting, the cleanest way to show “no crypto activity” during specific periods is to obtain brokerage records that list all activity (not just buy/sell events) for…

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Probate Q&A Series ·

How do executor fees or commissions work when the estate is insolvent and the main asset is being sold to pay secured debt? NC

How do executor fees or commissions work when the estate is insolvent and the main asset is being sold to pay secured debt? – North Carolina Short Answer In North Carolina, an executor’s commission is not automatic in an insolvent estate. The Clerk of Superior Court typically allows a reasonable commission only after reviewing the…

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Surplus Funds Q&A Series ·

What happens to other debts like credit cards when surplus funds are being calculated and distributed? NC

What happens to other debts like credit cards when surplus funds are being calculated and distributed? – North Carolina Short Answer In North Carolina, surplus funds from a foreclosure sale are not automatically used to pay ordinary unsecured debts like credit cards. The sale proceeds are applied in a set order (sale costs, certain taxes/assessments,…

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Probate Q&A Series ·

What happens if the final accounting isn’t completed in time for a trust company’s committee deadline? NC

What happens if the final accounting isn’t completed in time for a trust company’s committee deadline? – North Carolina Short Answer In North Carolina, a trust company’s internal committee deadline does not control the legal deadline for an executor (personal representative) to finish an estate. If the final accounting and “closing package” are not ready…

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