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):...

Medicare Claim Matter in Probate Estate Removed to Federal Court

Posted on: August 13th, 2010
Probate and Estate Administration Matters Are Generally Handled in the State Courts – But Not Always, As One NC Executor Recently Found Out...

NC Probate Filing Fees Increase

Posted on: July 2nd, 2010
Effective July 1, 2010, the fee for opening a probate proceeding in North Carolina increased by $1.00 to $89.00. While one dollar is not much of an increase, it is representative of the trend over the last few years to raise court costs. It will only get worse, making living trusts to avoid probate that much more attractive....

Income Taxation of Estates – a Brief Overview

Posted on: January 30th, 2010
In North Carolina it is not uncommon for persons to handle administration of a decedent’s estate without hiring a lawyer or an accountant. ...

NC Revises Spousal Elective Share Law

Posted on: November 13th, 2009
The Elective Share is the value of property a surviving spouse is entitled to get from a deceased spouse. In the absence of a valid prenuptial or postnuptial agreement waiving such rights, when the deceased spouse leaves less than the elective share amount to the survivor, he or she can enforce the elective share....

Often Overlooked in Estates – Cost Segregation Tax Savings

Posted on: September 6th, 2009
This is a complicated but potentially very worthwhile strategies to pursue in estate in which the decedent owned valuable depreciable real estate (e.g. office buildings, shopping centers, or multiple rental homes)....
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