Legal Question in Wills and Trusts in North Carolina

Re: Dispensing Inherited Investments

You need serious legal advice - especially if you are the executor. Disposing of such assets on your own can lead to serious legal problems. Are you sure that the stock certificates were held by your mother and the executor jointly with right of survivorship? If so, then those are not disposed of pursuant to any estate. They are not really your mothers but automatically become the named survivor immediately upon her death. They are not part of her property to be distributed. But I would check and make sure that such is the case. Whatever the executor does, he should not just "distribute" them how he best thinks they should be. It could create serious tax problems with the IRS. But basically if there is a will it should be probated and the assets distributed pursuant to the probate process. That way everybody gets good title and can then do with the assets as they see fit. If you have any questions, please do not hesitate to call me at 205-458-1100.