Why Do Inventories Need Date-of-Death Account Values? | NC

About this video

Q: Why do estate inventory documents need account statements showing values on the date of death? A: Because the probate inventory is supposed to show what the person owned, and what it was worth, at the moment they died. A later balance can be misleading. After death, an account may have deposits, withdrawals, fees, interest, dividends, or market gains and losses. Those changes do not tell the…