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Probate Q&A Series ·

What documents does the lender usually require to release a deceased borrower’s loan records to the estate representative? nc

What documents does the lender usually require to release a deceased borrower’s loan records to the estate representative? – North Carolina Short Answer In North Carolina, a lender usually releases a deceased borrower’s loan records after receiving proof of death and proof that the requester has legal authority to act for the estate. In most…

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Probate Q&A Series ·

How do I get itemized credit-card statements for a deceased person’s account to verify what the estate actually owes? nc

How do I get itemized credit-card statements for a deceased person’s account to verify what the estate actually owes? – North Carolina Short Answer In North Carolina, the cleanest way to obtain itemized credit-card statements for a deceased person is for the estate’s personal representative (executor/administrator) to request them directly from the card issuer or…

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Probate Q&A Series ·

What happens to a car with an auto loan after the borrower dies if the vehicle has already been voluntarily surrendered or repossessed? – nc

What happens to a car with an auto loan after the borrower dies if the vehicle has already been voluntarily surrendered or repossessed? – North Carolina Short Answer In North Carolina, if the vehicle was already voluntarily surrendered or repossessed before (or around) the borrower’s death, the car is usually no longer an estate asset…

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Real Estate Q&A Series ·

If the mortgage isn’t paid and the property is foreclosed, could I be personally responsible even if I never assumed the loan? nc

If the mortgage isn’t paid and the property is foreclosed, could I be personally responsible even if I never assumed the loan? – North Carolina Short Answer Usually, no. In North Carolina, an heir or co-owner who inherits a home “subject to” an existing mortgage is not personally liable for the unpaid loan balance unless…

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Guardianship Q&A Series ·

What evidence should I bring to court to show my parent needs a different placement and better supervision after repeated falls? nc

What evidence should I bring to court to show my parent needs a different placement and better supervision after repeated falls? – North Carolina Short Answer In North Carolina, the most persuasive evidence is usually objective, dated documentation showing (1) a pattern of falls or safety incidents, (2) a medical reason the current setting is…

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Guardianship Q&A Series ·

What can I do if I believe a family member is withholding or misusing my parent’s annuity or other funds while my parent is under guardianship? nc

What can I do if I believe a family member is withholding or misusing my parent’s annuity or other funds while my parent is under guardianship? – North Carolina Short Answer In North Carolina, concerns about a guardian (or someone acting through the guardian) withholding or misusing a ward’s annuity or other funds are handled…

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Real Estate Q&A Series ·

Can a remainderman transfer their remainder interest to another family member while the life tenant is still alive? nc

Can a remainderman transfer their remainder interest to another family member while the life tenant is still alive? – North Carolina Short Answer Yes. In North Carolina, a remainderman can usually transfer (sell or gift) an existing remainder interest while the life tenant is still alive, as long as the remainder interest already exists and…

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Real Estate Q&A Series ·

What rights does the remainderman have if the life tenant is creating conflict or interfering with the property? nc

What rights does the remainderman have if the life tenant is creating conflict or interfering with the property? – North Carolina Short Answer In North Carolina, a remainderman generally cannot take possession or control of the property while the life tenant is alive, but the remainderman can protect the future interest if the life tenant…

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Probate Q&A Series ·

How can co-trustees set up a transparent system for paying trust expenses and tracking reimbursements so everyone can see what’s being paid and why? nc

How can co-trustees set up a transparent system for paying trust expenses and tracking reimbursements so everyone can see what’s being paid and why? – North Carolina Short Answer In North Carolina, co-trustees can create transparency by (1) separating money and records by trust/sub-trust, (2) adopting a written approval-and-payment workflow, and (3) issuing regular reports…

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Probate Q&A Series ·

Can retirement accounts be split into inherited accounts for each beneficiary instead of being paid into the trust, and what happens if the plan won’t allow that? nc

Can retirement accounts be split into inherited accounts for each beneficiary instead of being paid into the trust, and what happens if the plan won’t allow that? – North Carolina Short Answer Often, yes: if a retirement account is payable at death to a trust, the custodian may still be able to create separate “inherited”…

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