Jan242026
Probate Q&A Series

How do I properly fill out the estate inventory to close out a parent’s estate? – North Carolina

Short Answer

In North Carolina, the personal representative (executor or administrator) usually must file an Inventory (often called the “90-day inventory”) with the Clerk of Superior Court and later file an Annual Account and/or Final Account to finish the estate. The inventory should list probate assets that came into the personal representative’s control and show fair market values as of the date of death. If the inventory or final accounting is incomplete or inconsistent with bank records and receipts, the Clerk can require corrections and may issue notices or orders to file.

Understanding the Problem

In North Carolina probate, can a personal representative properly complete the estate inventory so the Clerk of Superior Court can accept the filings needed to close a deceased parent’s estate? The decision point is whether the inventory and the final accounting accurately identify the probate assets, show the correct date-of-death values, and match what actually happened during administration (money received, bills paid, and distributions made). The goal is to submit forms that the Clerk can audit without confusion or missing information.

Apply the Law

North Carolina requires a personal representative to report estate property to the Clerk of Superior Court through an Inventory and then through accountings (annual and/or final) until the estate is ready to close. The Inventory is a snapshot of probate property as of the date of death that came into the personal representative’s hands (or into someone else’s hands for the personal representative). The accounting is a timeline: it shows what came in, what went out, and what was distributed, with supporting documentation.

Key Requirements

  • Identify the correct “probate” assets: List property that is part of the probate estate and under the personal representative’s control (for example, a bank account titled only in the decedent’s name). Do not treat non-probate transfers (like many payable-on-death accounts) as probate assets unless they actually belong in the estate.
  • Use date-of-death values: The Inventory generally uses fair market value as of the date of death. For bank accounts, that usually means the actual balance on the date of death (not an estimate and not the balance on the day the account was closed).
  • Keep the Inventory and Final Account consistent: Items listed on the Inventory should “show up” later in the accounting as receipts (when collected) and as distributions (when transferred out), with documentation that ties to the numbers reported.

What the Statutes Say

Analysis

Apply the Rule to the Facts: Here, the estate is in the final stage and needs an inventory and/or final accounting accepted so the estate can close. The key is making the Inventory match the parent’s probate assets as of the date of death (especially exact bank balances) and making the Final Account match the estate checking activity (receipts, disbursements, and distributions) with supporting records. If an asset or value was missed earlier, North Carolina practice often requires a correction through a supplemental inventory or a clear update in the accounting so the Clerk can follow the trail.

Process & Timing

  1. Who files: The personal representative (executor/administrator). Where: The Estates Division of the Clerk of Superior Court in the county where the estate is being administered in North Carolina. What: Inventory for Decedent’s Estate (commonly filed on AOC-E-505) and later the Annual/Final Account (commonly filed on AOC-E-506), plus attachments the Clerk requires. When: The Inventory is due within three months after qualification; the Final Account is due based on the statutory timing rules and any extension granted by the Clerk.
  2. Build the Inventory from documents, not memory: Gather date-of-death statements for bank accounts, brokerage accounts, and other financial assets; title documents for vehicles; and documentation for personal property values. If an appraisal is used for a category of assets, identify the appraiser on the Inventory for those assets.
  3. Make the Final Account “tie out” to the estate checking: The accounting should show (a) beginning assets/receipts, (b) every deposit into the estate, (c) every payment out with a purpose (expenses, debts, administration costs), and (d) distributions to beneficiaries. Attach the supporting paperwork the Clerk expects (often including proof for disbursements). Once accepted, the Clerk typically signs off to discharge the personal representative as part of the closing process.

Exceptions & Pitfalls

  • Mixing probate and non-probate property: A common mistake is listing assets that pass outside probate (or failing to list assets that actually belong in the probate estate). This can create confusion when the accounting does not match the Inventory.
  • Wrong valuation date: The Inventory is generally based on date-of-death values. Using “today’s value” for an account or using a rounded estimate can cause the Clerk to require clarification or corrections.
  • Real estate description problems: If real property is listed, incomplete descriptions can create issues later when the property is sold or transferred. A clear deed reference and identifying details help prevent delays.
  • Missing updates when new assets are found: If additional property is discovered or a value was wrong, North Carolina law provides for a supplemental inventory. Failing to address changes cleanly can slow approval of the final accounting.
  • Accounting does not match receipts and disbursements: The Final Account should be supported by records. If the numbers do not reconcile with bank statements and documentation, the Clerk may require revisions before discharge.

Conclusion

To properly complete an estate inventory in North Carolina and move toward closing a parent’s estate, the personal representative should list probate assets that came into the estate’s control and report fair market values as of the date of death, then file a final accounting that matches the estate’s actual receipts, payments, and distributions with supporting records. The Inventory is generally due within three months after qualification. Next step: file the completed Inventory and Final Account with the Clerk of Superior Court handling the estate, and correct any missing assets or values through a supplemental filing if needed.

Talk to a Probate Attorney

If you’re dealing with an estate inventory and final accounting needed to close a North Carolina probate estate, 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.

Category: Probate Q&A Series

Author: Pierce Law

Pierce Law Group is a North Carolina law firm focused on probate administration, real estate partition matters, and surplus funds claims across North Carolina. We know these situations often come with stress, family dynamics, and time-sensitive decisions—so we prioritize clear communication, steady guidance, and a practical plan from day one. Our goal is to make a complicated process feel manageable, while protecting what matters most to you.