Detailed Answer

In North Carolina probate, you must list and value the decedent’s personal property on the estate Inventory (AOC-E-505). The law requires the personal representative to file a verified inventory showing the assets and their fair market value as of the date of death. See G.S. 28A-20-1 (Inventory and appraisal). If the items are unusual or difficult to value—like trading cards, sports memorabilia, coins, or art—the Clerk of Superior Court may require an appraisal by disinterested appraisers. See G.S. 28A-20-2 (Appraisers; when and how appointed).

What “value” does North Carolina require?

Use fair market value as of the date of death—the price a willing buyer would pay a willing seller when neither is under pressure. For collectibles like Pokémon cards, that usually means supported market comparables (recent sales of the same or very similar items).

Step-by-step: Valuing a trading card collection for the Inventory

1. Secure and organize the collection. Store cards in a safe, dry place. Keep them in their current sleeves or cases. Do not clean or alter items.
2. Make a written inventory. Create a list with: card name, edition/set, year, number, language, condition, and any grading company/grade (e.g., PSA/BGS/CGC) and certification number. Photograph high-value items and sealed products.
3. Identify likely high-value items. Look for early sets (e.g., Base Set), first editions, holographics, limited promos, mint condition or graded cards.
4. Research fair market value using sold comparables. Use completed sales—not asking prices—from reputable marketplaces and auction houses. Match the same card, edition, and condition/grade. Save screenshots or reports of several recent sales around the date of death.
5. Consider professional grading and/or appraisal. If the value depends heavily on condition, sending key cards for grading can clarify value. For sizable collections or rare items, hire a qualified appraiser of trading cards or sports/entertainment memorabilia. Appraisers can provide a written, date-of-death appraisal report suitable for the Clerk. If needed, the Clerk may require disinterested appraisers under G.S. 28A-20-2.
6. Value by item or logical group (lot). List high-value cards individually. Group the remainder into reasonable lots (e.g., “Bulk modern commons/uncommons ~5,000 cards”) with a single fair market value supported by comparable bulk sales.
7. Assign date-of-death values and document your methods. Keep a valuation file with the inventory list, photos, grading cert lookups, sold-comparable printouts, and any appraisals. This supports your fiduciary duty and answers Clerk questions.
8. Report on the North Carolina Inventory form. Use the court form for decedents’ estates: AOC‑E‑505: Inventory for Decedent’s Estate. Include the collectibles with their fair market value as of the date of death.

Why accurate valuation matters

• Compliance with law: You must file a truthful, complete inventory within the statutory timeline. See G.S. 28A-20-1.
• Bond and administration decisions: Inventory values can affect the required bond and administrative choices.
• Small estate option: The total value of personal property can determine eligibility for the small-estate affidavit process under G.S. 28A-25-1 (generally $20,000, or $30,000 if the surviving spouse is the sole heir). Correct values help you choose the right path.
• Fairness to heirs and beneficiaries: Sound values support equitable distribution and reduce disputes.

Practical example

Suppose the decedent owned a Pokémon collection with a graded first‑edition holographic card and several binders of modern cards. You would: (1) verify the graded card’s certification number and pull recent sales of the same grade within weeks of the date of death; (2) photograph and list any other premium cards, using sold prices for the same set and condition; (3) group the binders of bulk cards into lots and use comparable bulk lot sales; and (4) include all values on AOC‑E‑505 with your saved documentation. If the collection appears to exceed several thousand dollars or includes rare items, retain a memorabilia appraiser and attach the appraisal.

When to involve the Clerk or an appraiser

If you cannot reasonably determine value, or interested heirs disagree, ask the Clerk’s office whether an appraisal is required. Under G.S. 28A-20-2, the Clerk can appoint disinterested appraisers. You may also hire your own qualified appraiser to support the Inventory.

Helpful Hints

• Use date-of-death values. A sale months later may not match the Inventory value; keep your date-of-death comparables.
• Prefer sold listings over asking prices. Auctions and marketplace “sold” filters are best.
• Confirm grading details. Record the grading company, grade, and certification number; save the online verification page as a PDF.
• Photograph key items and sealed products. Clear images help prove identity and condition.
• Don’t over-clean or re-sleeve rare cards; you can reduce value by handling.
• Insure the collection while the estate is open if values are significant.
• Document everything. Keep a valuation folder with notes, screenshots, and appraisals in case the Clerk or heirs ask questions.
• Use the official court form: AOC‑E‑505.
• Consider small-estate eligibility. Accurate totals help determine if G.S. 28A-25-1 applies.
• When in doubt, ask an attorney. A short consultation can save time and prevent errors.

Ready to get this right?

Accurate, well-documented values satisfy North Carolina law, reduce disputes, and keep your probate on track. Our firm handles estates with unique assets like trading card collections and can guide you from inventory to distribution. Call us today at (919) 341-7055.