How Do I Handle Bank Accounts to Pay Estate Debts? | NC

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Q: How do I handle bank accounts when I need to open an estate account and pay estate debts? A: Start by separating probate accounts from nonprobate accounts. An account only in the deceased person's name usually becomes an estate asset. Joint accounts with survivorship rights, payable on death accounts, and transfer on death accounts often pass directly to someone else, although those funds may…