Probate

New NC Trusts and Estates Laws

Posted on: August 12th, 2011
In the 2011-2012 Session, the North Carolina General Assembly passed several laws affecting estate planning, trusts and probate: S.L. 2011-5 and S.L. 330- The reference to the Internal Revenue Code in G.S. 105-228.90(b)(1b) is changed from May 1, 2010 to January 1, 2011. ...

Filing Fees for NC Estates Increase

Posted on: July 6th, 2011
Effective July 1, 2011, the fee to open an estate proceeding in North Carolina is now $120. This includes Trusts under Wills and Affidavits for Collection of Personal Property. Special Proceedings are also now $120. Click here for the Estates Court Costs Chart. ...

IRS Issues Interim Guidance on Fiduciary Fee Treatment re 2% Floor

Posted on: May 15th, 2011
The IRS has issued interim guidance on the treatment under Code Section 67 of investment advisory costs and other expenses subject to the 2-percent floor under Section 67(a). Notice 2011-37....

2010 Executors – Are You Ready to Allocate that Basis?

Posted on: November 2nd, 2010
Today I was alerted to the existence of a draft of the IRS from that will be required to be filed for estates of decedents dying in 2010 with estates in excess of $1.3 million. IRS Form 8939 – Allocation of Increase in Basis for Property Received from a Decedent. The due date is April 15, 2011....

New Online Service Helps Executors Locate Financial Information

Posted on: September 18th, 2010
One of the most challenging things for many executors is trying to locate and organize the decedent’s financial information, such as insurance policies, and bank and investment statements....

IRS Guidance for Executors of 2010 Estates

Posted on: September 8th, 2010
Given the new basis reporting requirement for the estate of decedents dying in 2010, these new FAQ from the IRS are welcome and contain very important details, including (emphasis added):...
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