How do I complete the estate inventory if I’m still waiting on account statements or property values? – North Carolina

Short Answer

In North Carolina, the personal representative generally must file the estate inventory with the Clerk of Superior Court within three months after qualification, even if some values are not final. The inventory should be as complete as possible using the best available information, and then updated if missing assets are found or a value later turns out to be wrong. When a value truly cannot be determined by the deadline (for example, a pending appraisal or delayed financial statement), it is often possible to list the asset and note that the value is undetermined, then follow up with a supplemental filing or updated reporting.

Understanding the Problem

In North Carolina probate, a personal representative can face a timing problem: the estate inventory is due, but banks, brokerages, or other institutions have not provided date-of-death statements, and real estate or personal property values may still be pending. The decision point is whether the inventory can be filed on time while some information is still missing, and what steps are available to correct or complete the inventory later without creating avoidable court problems with the Clerk of Superior Court.

Apply the Law

North Carolina requires a personal representative to file an inventory with the Clerk of Superior Court within three months after qualification. The inventory lists probate assets and their values as of the decedent’s date of death. If additional assets are later discovered, or if a listed value is later learned to be wrong or misleading, North Carolina law directs the personal representative to file a supplemental inventory. A personal representative may also use appraisers to value assets, and the inventory should reflect that an appraisal was used when applicable.

Key Requirements

File on time: The inventory is generally due within three months after qualification, and the Clerk can start enforcement steps if it is late.
List probate assets and date-of-death values: The inventory should identify what is in the probate estate and provide fair market value as of the date of death, using the best available information.
Update when information changes: When missing property is found or a value later proves incorrect or misleading, a supplemental inventory is required.

What the Statutes Say

N.C. Gen. Stat. Chapter 28A, Article 20 (Inventories) – Establishes the inventory requirement for personal representatives, including timing and supplemental inventories.
N.C. Gen. Stat. Chapter 28A, Article 21 (Accounts) – Covers ongoing annual/final accounting duties that often capture later-discovered information during administration.

Analysis

Apply the Rule to the Facts: The facts indicate an estate inventory was sent out and follow-up is needed, which usually means the three-month inventory deadline is approaching or has passed. If account statements or property values are still pending, the inventory should still be prepared as completely as possible with the information currently available, identifying each asset and using reasonable best-available values. If a bank statement or appraisal arrives later and changes the numbers, the inventory can be corrected by filing a supplemental inventory (or, in some cases, by reporting the change in later accountings depending on local Clerk practice).

Process & Timing

Who files: The personal representative (executor/administrator). Where: The Estates Division of the Clerk of Superior Court in the county where the estate is opened in North Carolina. What: The standard “Inventory for Decedent’s Estate” form commonly used by Clerks (often an AOC estate inventory form). When: Generally within three months after qualification.
How to file when values are pending: List the asset with as much identifying detail as possible (institution name, last four digits of account number if available, property description, vehicle identifiers, etc.). Use the best available date-of-death value (for example, an online balance snapshot, prior statement close to the date of death, or a reasonable estimate), and clearly flag items that are awaiting documentation or appraisal when a firm value is not yet available.
How to correct later: When the missing statement arrives or an appraisal is completed, file a supplemental inventory to add omitted assets or correct values. Keep supporting documents organized because the Clerk may audit the inventory and later accountings.

Exceptions & Pitfalls

Waiting for “perfect” values: A common mistake is holding the entire filing until every statement arrives. That approach can trigger Clerk enforcement steps for a late inventory.
Confusing probate assets with non-probate assets: Some assets pass outside probate (for example, certain jointly owned assets with survivorship or beneficiary-designated accounts). Misclassifying assets can lead to an inventory that is incomplete or misleading.
Not updating after new information is learned: If a later statement shows a different date-of-death value, or an asset was missed, failing to file a supplemental inventory can create problems in later accountings and delay closing the estate.

For more detail on related inventory issues, see amending an estate inventory when values change and correcting the inventory after missing assets are found.

Conclusion

In North Carolina, the estate inventory is generally due within three months after qualification, even if some account statements or appraisals are still pending. The inventory should be filed as complete as possible using the best available date-of-death information, and then corrected by a supplemental inventory if assets are later discovered or values later prove incorrect or misleading. The most important next step is to file the inventory with the Clerk of Superior Court by the three-month deadline and promptly follow up with a supplemental filing once final statements or valuations arrive.

Talk to a Probate Attorney

If you’re dealing with an estate inventory deadline while financial statements or property values are still pending, 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.