Probate Q&A Series

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Probate Q&A Series ·

Can estate funds be held temporarily somewhere while a new trustee is being chosen for the beneficiaries who need ongoing trust management? – NC

Can estate funds be held temporarily somewhere while a new trustee is being chosen for the beneficiaries who need ongoing trust management? – NC Short Answer Yes. Under North Carolina law, funds that are supposed to stay in trust generally should not be paid outright to those beneficiaries just because the current trustee is resigning…

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Probate Q&A Series ·

What documents are needed to qualify a personal representative when bond requirements may apply? NC

What documents are needed to qualify a personal representative when bond requirements may apply? – NC Short Answer In North Carolina, a personal representative usually qualifies before the Clerk of Superior Court in the county where the estate is opened. The core paperwork often includes the application for probate or administration, the original will if…

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Probate Q&A Series ·

What bond rules apply when opening a new estate? NC

What bond rules apply when opening a new estate? – NC Short Answer In North Carolina, a personal representative usually must post a bond before the clerk issues letters, unless a statutory exception applies. Whether bond is required depends mainly on the type of estate, whether the personal representative is an executor or administrator, whether…

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Probate Q&A Series ·

Can a credit card company collect from estate assets without going after the affiant or family personally? NC

Can a credit card company collect from estate assets without going after the affiant or family personally? – NC Short Answer Yes. In North Carolina, a credit card company usually makes its claim against the decedent’s estate, not against family members or the small-estate affiant personally, unless someone else was already legally responsible for the…

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