News and Articles

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Real Estate Q&A Series ·

What risks should I watch for when buying a foreclosure property, like liens, back taxes, or property condition issues? nc

What risks should I watch for when buying a foreclosure property, like liens, back taxes, or property condition issues? – North Carolina Short Answer In North Carolina, the biggest risks when buying a foreclosure are (1) title problems that survive the foreclosure (especially property tax liens and some other recorded claims), (2) timing risk from…

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Probate Q&A Series ·

How do I access or transfer a certificate of deposit after the account owner dies if there is no payable-on-death beneficiary listed? nc

How do I access or transfer a certificate of deposit after the account owner dies if there is no payable-on-death beneficiary listed? – North Carolina Short Answer In North Carolina, if a certificate of deposit (CD) has no payable-on-death (POD) beneficiary and no surviving joint owner with survivorship rights, the CD usually becomes part of…

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How are sale proceeds and property-related expenses typically handled when a property is sold through a partition process? nc

How are sale proceeds and property-related expenses typically handled when a property is sold through a partition process? – North Carolina Short Answer In a North Carolina partition sale, the sale money is typically used first to pay sale-related costs and other approved charges, and the remaining “net proceeds” are then divided among the co-owners…

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Probate Q&A Series ·

Can a lawyer contact a retirement plan or bank on my behalf to get balances and paperwork, and what authorizations do I need to sign? nc

Can a lawyer contact a retirement plan or bank on my behalf to get balances and paperwork, and what authorizations do I need to sign? – North Carolina Short Answer Yes. In North Carolina, a probate lawyer can contact banks and retirement plan administrators to request date-of-death balances, beneficiary information, and account paperwork, but most…

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Probate Q&A Series ·

How can I challenge an estate administrator who sold estate vehicles for too little and won’t explain the pricing? nc

How can I challenge an estate administrator who sold estate vehicles for too little and won’t explain the pricing? – North Carolina Short Answer In North Carolina, a beneficiary can challenge an estate administrator’s low-priced vehicle sale by asking the Clerk of Superior Court (the estate court) to require a fuller report and accounting, and—if…

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Probate Q&A Series ·

What happens in probate if there are multiple properties and I’m not sure which ones are titled in my parent’s name? nc

What happens in probate if there are multiple properties and I’m not sure which ones are titled in my parent’s name? – North Carolina Short Answer In North Carolina probate, the personal representative must identify (often called “discover” or “marshal”) the decedent’s assets and report them to the Clerk of Superior Court, including any real…

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Probate Q&A Series ·

If the administrator is removed, how does the court decide who gets appointed next, and can another heir step in as administrator? – nc

If the administrator is removed, how does the court decide who gets appointed next, and can another heir step in as administrator? – North Carolina Short Answer In North Carolina, if a personal representative (often called an “administrator” or “executor”) is removed, the Clerk of Superior Court typically appoints a successor using the same priority…

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Guardianship Q&A Series ·

Do I need a separate court approval to handle my relative’s finances, or does guardianship cover that automatically? nc

Do I need a separate court approval to handle my relative’s finances, or does guardianship cover that automatically? – North Carolina Short Answer In North Carolina, guardianship does not automatically include authority over finances. Financial authority depends on what type of guardian the Clerk of Superior Court appointed in the order and the letters of…

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Probate Q&A Series ·

How do I calculate the personal representative’s commission correctly for an estate administration? nc

How do I calculate the personal representative’s commission correctly for an estate administration? – North Carolina Short Answer In North Carolina, a personal representative’s commission is set by the Clerk of Superior Court and is usually calculated as a percentage (up to a statutory maximum) of the estate’s commissionable receipts and commissionable disbursements. The most…

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