Creditors

Important North Carolina Probate Forms

Posted on: May 9th, 2017
Executors must maintain records of accounting and other required documentation as part of their administrative duties. Customarily, the following probate forms are used for North Carolina estates (links provided to official documents where available)...

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....

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...

New Creditor Protections for NC Properties

Posted on: January 9th, 2015
Effective January 1, 2015, property owned by married couples in North Carolina will enjoy creditor protections afforded to tenancy by the entireties property even if the property is transferred to one or more trusts. ...

Debt Inheritance: Credit Cards, Tax, and Other Liabilities

Posted on: July 14th, 2014
An individual may accumulate assets during his or her lifetime, but debt may reduce or eliminate an inheritance family members expected to receive. Loved ones may “inherit” debt if a decedent lacked effective estate planning, beneficiary designation updates, and asset protection....