Category: Probate



Spousal Year’s Allowance to Increase to $20,000

Posted on: July 18th, 2009
The "Years Allowance" for spouses is intended to provide support for a surviving spouse during the year after the death of the deceased spouse, and has priority over creditors claims and other beneficiaries.
 
The allowance has been $10,000 for many years, which, of course, is a pitifully small amount these days.  However, effective January 1, 2010, the amount will increase to $20,000.
 
Use of the Year’s Allowance is also helpful in avoiding the cost and time of a full probate proceeding in some cases.
 
Session Law 2009-183, amended North Carolina General Statutes Sections 30-15, 30-26 and 30-29.
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