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5 Concerns for First-Time Executors
Posted on: June 6th, 2017
A person serving as executor for the first time must manage the time demands of the probate process while allowing leeway for their own learning curve. Our probate attorneys produced a few overviews of the estate administration process to help facilitate a productive start....
North Carolina Small Estates Administration
Posted on: May 19th, 2017
Executors may discover throughout the course of estate administration that the value of the estate falls within North Carolina’s statutory threshold for small estates. For qualifying estates, the law provides a means for heirs to receive the decedent’s property with minimal or no probate administration....
First Forms for North Carolina Executors
Posted on: May 12th, 2017
Certain forms must be filed before an individual may begin serving as executor or administrator of an estate in North Carolina. If the individual is ready to move forward, the first forms they should review include the following....
Factors That Affect Length of Probate
Posted on: May 11th, 2017
The duration of a North Carolina probate administration depends on a variety of factors. Understanding common causes of probate delays can help executors and other parties involved in the estate administration to prevent unnecessary interruptions. ...
Managing Estate Assets
Posted on: May 8th, 2017
Executors must preserve estate assets until distribution. Overseeing estate assets could be a burden for executors, particularly if the decedent bequeathed out-of-state property or unique assets. ...
Dealing With Creditors in NC Probate
Posted on: May 5th, 2017
Personal representatives and executors follow a state-mandated timeline for creditor notifications. When it comes to managing debts, including through approval or rejection of creditor claims, the executor’s duties become more complicated....
3 Reasons Why an Executor May Resign
Posted on: April 12th, 2017
Occasionally an executor must resign from their role. In North Carolina, the executor must file a formal petition with the clerk of court stating the reason(s) for resignation....
Out-of-State Property in North Carolina Probate
Posted on: January 24th, 2017
The executor must inventory and evaluate all personal property, vehicles, and assets that pass through probate. However, if the decedent held property outside of North Carolina, those assets must follow the laws present in the alternate jurisdiction....
Possible Tax Items to Expect With Trump Adminstration
Posted on: December 12th, 2016
Have you reviewed the proposed tax changes under the forthcoming Trump Administration? Read on to learn what is expected to change within the first 100 days following inauguration....
3 Errors North Carolina Executors Might Encounter Without Legal Counsel
Posted on: November 21st, 2016
When it comes to legal matters, it’s not in the executor’s best interest nor the best interest of the estate or its beneficiaries to rely on a DIY effort. The most important issue executors should understand is that executors are held personally responsible for probate errors and mistakes, regardless if the blunder was unintentional....
NC Marriage Ruled Valid Despite Lack of Marriage License: How This Affects Estates
Posted on: September 30th, 2016
North Carolina courts denied a wife’s claim to her spousal share since no marriage license existed. However, the wife filed an appeal, and the appellate court judge ruled that the absence of a marriage license does not invalidate a marriage, thus allowing the wife to claim a spousal share....
Updating Revocable Trusts in North Carolina
Posted on: September 29th, 2016
Updates to one’s revocable trust may be made by an amendment or a complete restatement. An amendment updates a specific part of the trust, while a restatement updates the entire trust. ...
Overview of North Carolina’s Digital Assets Act
Posted on: September 23rd, 2016
North Carolina Governor Pat McCrory signed a bill into law over the summer of 2016 that allows digital account holders to provide a fiduciary with authority to manage their digital assets. The Act modifies various provisions of North Carolina statutes to conform to the new law, including the North Carolina power of attorney form....
Creditor Notification Requirements for Executors in NC
Posted on: August 9th, 2016
Creditor notification is a mandatory part of probate in every state, but the process varies in each jurisdiction. In North Carolina, executors must follow several statutes in regards to the timing, distribution and placement, and transmission of notices to creditors....
Creditor Claims Against Decedents in North Carolina
Posted on: March 23rd, 2015
One of the many responsibilities executors have is ensuring that the decedent’s debts are satisfied. Creditor claims against estates in North Carolina generally fall into categories of priority. The North Carolina Administrative Office of the Courts provides the Order of Priority of Claims in Estate Procedures: Property liens up to the amount of the property...
Supreme Court Refuses to Hear Blackwater Suit
Posted on: March 1st, 2007
On February 26, 2007, the United States Supreme Court declined to hear the wrongful death case against the North Carolina private security firm Blackwater Security Consulting, LLC filed by the estates of four of its employees killed in Iraq in 2004. ...
North Carolina Intestacy Calculator
Posted on: May 31st, 2006
"Intestacy" refers to how a person’s property is distributed if he or she dies without a will. Pennsylvania attorney Kurt Nilson has created a web-based calculator for determine how an intestate estate will be distributed under North Carolina law....