Short Answer

In North Carolina, the executor must file a detailed inventory of the estate’s assets with the Clerk of Superior Court within three months of qualifying. List each asset with its fair market value as of the date of death and classify it correctly on the court form. You may use a disinterested appraiser when needed and must pay an inventory fee based on personal property values. If you later discover assets or corrections, file a supplemental inventory.

Understanding the Problem

You’re the North Carolina executor and need to know how to prepare and file the court-required inventory and appraisal. The decision is: how do you accurately list and value all probate assets and get the Inventory for Decedent’s Estate on file with the Clerk of Superior Court within the three‑month deadline, especially where the estate includes several residential properties?

Apply the Law

North Carolina requires a formal inventory in the estate file within three months after you qualify as executor. The inventory reports assets with fair market values as of the date of death and uses the court’s categories to distinguish probate assets from items that pass outside the estate but could be reached to pay claims. The Clerk of Superior Court is the filing forum. If needed, you can hire a disinterested appraiser and list their name and address on the inventory. A filing fee applies based on personal property and certain sale proceeds handled by the executor.

Key Requirements

• 90‑day filing: File the Inventory for Decedent’s Estate within three months of qualification with the Clerk of Superior Court.
• Date‑of‑death values: List fair market value as of the date of death; support with statements, price quotes, and appraisals where appropriate.
• Correct classification: Use the court form’s structure: (1) estate property; (2) property that can be added if needed to pay claims; and (3) wrongful death claims if applicable.
• Detail and documentation: Provide identifying details (e.g., bank balances as of death, vehicle VIN/title data, and real property descriptions) and keep backup records.
• Appraisers: You may use a disinterested appraiser; list the appraiser’s name and address with the item. If an appraisal is pending, you may temporarily indicate “undetermined.”
• Fees: Pay the inventory fee calculated on personal property shown and, if applicable, proceeds from real estate that come into the executor’s hands.
• Updates: If new assets are found or descriptions/values change, file a supplemental inventory.

What the Statutes Say

• North Carolina Gen. Stat. § 28A‑20‑1 (Inventory and timing) – Inventory due within three months of qualification; includes estate property in the executor’s hands.
• North Carolina Gen. Stat. § 28A‑20‑3 (Supplemental inventory) – File to add later‑discovered assets or correct descriptions/values.
• North Carolina Gen. Stat. § 28A‑20‑4 (Appraisers) – Executor may use disinterested appraisers; list them on the inventory.
• North Carolina Gen. Stat. § 7A‑307 (Court costs and fees) – Sets the inventory fee for personal property and certain sale proceeds handled by the executor.

Analysis

Apply the Rule to the Facts: You qualified as executor and have three months to file the Inventory for Decedent’s Estate. List the bank account’s date‑of‑death balance, each vehicle with identifying details and values, and household items (separately list any high‑value pieces). For the residential properties, include proper descriptions and classify them correctly on the form. If an appraisal is still pending on any parcel or item, temporarily mark the value as undetermined and update with a supplemental filing when available.

Process & Timing

1. Who files: Executor. Where: Clerk of Superior Court, Estates Division, in the North Carolina county where the estate is administered. What: Inventory for Decedent’s Estate (AOC‑E‑505) with supporting statements/appraisals; ensure the Affidavit of Publication for the creditor notice is in the file. When: File within three months after qualification.
2. Gather and verify date‑of‑death values: bank statements as of the date of death, vehicle data (VIN/title and pricing), and real property descriptions (deed book/page, address and parcel info). Engage a disinterested appraiser if needed; include their name and address on the form. County review times vary, but expect follow‑up questions if details are missing.
3. Pay the inventory fee at filing. If new assets appear or values change, file a supplemental inventory. Continue keeping all receipts and pay estate expenses from the estate account to avoid commingling; report reimbursements in your accounting.

Exceptions & Pitfalls

• Wrong category for real property: Entireties property is typically excluded; solely owned parcels and tenancy‑in‑common interests are listed and properly classified on the form.
• Using estimates instead of date‑of‑death values: Values must be as of the date of death; use statements, price guides, and appraisals.
• Commingling funds: Never mix personal and estate funds; use the estate account for all estate receipts and disbursements and document reimbursements.
• Early distributions: Avoid distributing assets before you know claims and expenses can be paid; premature distributions can complicate accounting and risk personal liability.
• Late or incomplete filing: If you miss the deadline or omit information, the clerk can require corrective action and may impose consequences; request an extension in advance if needed.

Talk to a Probate Attorney

If you’re dealing with preparing and filing a North Carolina probate inventory and appraisal, our firm has experienced attorneys who can help you understand your options and timelines. Call us today at [919-341-7055].

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.