Probate Q&A Series

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Probate Q&A Series ·

Can the estate distribute retirement-plan funds before the final income tax and estate tax issues are resolved? nc

Can the estate distribute retirement-plan funds before the final income tax and estate tax issues are resolved? – North Carolina Short Answer Sometimes, but it depends on who legally owns the retirement-plan funds and whether the personal representative can safely hold back enough money to cover taxes and other estate costs. In North Carolina, a…

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Probate Q&A Series ·

If the deceased had no will and had children, how is any wrongful-death settlement or estate money divided between the surviving spouse and the children? nc

If the deceased had no will and had children, how is any wrongful-death settlement or estate money divided between the surviving spouse and the children? – North Carolina Short Answer In North Carolina, a wrongful-death settlement is paid to the estate’s personal representative, but the remaining proceeds are distributed to the heirs under North Carolina’s…

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Probate Q&A Series ·

What happens if I can’t find the title or registration paperwork for property the estate might claim? nc

What happens if I can’t find the title or registration paperwork for property the estate might claim? – North Carolina Short Answer In North Carolina, missing title or registration paperwork does not automatically decide whether property belongs to an estate. The personal representative still must make a reasonable effort to identify, gather, and inventory estate…

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Probate Q&A Series ·

What are my responsibilities as executor during the early steps of settling an estate? NC

What are my responsibilities as executor during the early steps of settling an estate? – North Carolina Short Answer In North Carolina, an executor (also called a “personal representative”) must quickly secure and identify estate assets, set up an estate recordkeeping system (often including an estate bank account), and start the court-required reporting process with…

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Probate Q&A Series ·

What should I do if estate-related mail is not being forwarded and I’m worried about missing time-sensitive notices? nc

What should I do if estate-related mail is not being forwarded and I’m worried about missing time-sensitive notices? – North Carolina Short Answer In North Carolina, the safest approach is to stop relying on mail forwarding and instead (1) update the estate’s mailing address everywhere it matters and (2) set up a backup way to…

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Probate Q&A Series ·

How can I get a deceased person’s health marketplace tax forms when I can’t access their online account? nc

How can I get a deceased person’s health marketplace tax forms when I can’t access their online account? – North Carolina Short Answer In North Carolina, the cleanest way to obtain a deceased person’s Health Insurance Marketplace tax forms when the online account cannot be accessed is to have the estate’s court-appointed personal representative request…

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Probate Q&A Series ·

When do we need to amend a deceased person’s final income tax return if income after the date of death was reported under the wrong taxpayer? nc

When do we need to amend a deceased person’s final income tax return if income after the date of death was reported under the wrong taxpayer? – North Carolina Short Answer In North Carolina, a decedent’s final individual income tax return should generally include only income received (or treated as received) through the date of…

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