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How do I set up a financial power of attorney for my spouse to handle buying and selling cars and other property? NC

How do I set up a financial power of attorney for my spouse to handle buying and selling cars and other property? – North Carolina Short Answer In North Carolina, a financial (general) power of attorney is a written document where one spouse (the “principal”) names the other spouse (the “agent”) to handle non-medical money…

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Probate Q&A Series ·

How can I force a relative with power of attorney to return funds that belonged to the trust if they were withdrawn before death and put into a personal account? NC

How can I force a relative with power of attorney to return funds that belonged to the trust if they were withdrawn before death and put into a personal account? – North Carolina Short Answer In North Carolina, a person acting under a power of attorney (the “agent”) owes fiduciary duties to the person who…

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Real Estate Q&A Series ·

Who can give a valid payoff and lien release if the collection agency says only the estate owes the debt but the closing attorney rejects their payoff? NC

Who can give a valid payoff and lien release if the collection agency says only the estate owes the debt but the closing attorney rejects their payoff? – North Carolina Short Answer In North Carolina, the party who can give a payoff that a closing attorney can rely on and who can sign a recordable…

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Probate Q&A Series ·

Should I open an estate if there appear to be no probate assets and creditors are starting collection efforts? NC

Should I open an estate if there appear to be no probate assets and creditors are starting collection efforts? – North Carolina Short Answer Often, yes—opening an estate (or another clerk-filed estate proceeding) can make sense in North Carolina even when there are no obvious “probate assets,” especially when creditors are demanding payment and there…

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Probate Q&A Series ·

Can a personal representative be personally liable if a settlement is reached for less than the full balance or if the estate cannot pay? NC

Can a personal representative be personally liable if a settlement is reached for less than the full balance or if the estate cannot pay? – North Carolina Short Answer Usually, no. In North Carolina, a personal representative generally pays valid debts only from estate assets, and an estate that is insolvent can pay claims only…

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Probate Q&A Series ·

Will banks and agencies accept the current letters, or should I wait for corrected ones before handling estate business? NC

Will banks and agencies accept the current letters, or should I wait for corrected ones before handling estate business? – North Carolina Short Answer In North Carolina, most banks and agencies will only act when the personal representative presents a certified copy of currently valid Letters Testamentary or Letters of Administration issued by the Clerk…

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