NC Estate Inventory: What to Include & How to File (90-Day Deadline)

North Carolina executors face a critical and often overlooked responsibility: filing an estate inventory within 90 days of the date of death. This court requirement isn’t optional, and missing the deadline can trigger legal complications. The challenge? Most executors don’t know what qualifies as estate property, how to value different assets, or which form the court requires. That’s where understanding the process, and using the right tools, makes all the difference.

The NC 90-Day Estate Inventory Deadline: What You Need to Know

North Carolina General Statute § 28A-20-1 mandates that executors (or personal representatives) file a complete inventory of estate assets within 90 days from the date of death. This isn’t a suggestion, it’s a legal requirement backed by the state’s probate code.

Why does this deadline matter?

The 90-day window serves multiple purposes. It gives the court oversight of the estate, protects beneficiaries by creating a documented record of assets, and ensures the executor follows proper probate procedures. Missing this deadline doesn’t simply result in a late filing. Instead, it can trigger:

• Court orders requiring explanation for the delay
• Potential removal of the executor from their role
• Difficulty transferring assets to beneficiaries
• Complications with estate taxes and final accounting
• Beneficiary disputes due to lack of transparency

The statute makes clear that executors must “settle the accounts of the personal representative and make proper distribution of the estate as expeditiously as possible” (N.C. Gen. Stat. § 28A-3-701). The inventory is the first formal step in demonstrating compliance with this obligation.

What Must Be Included in an NC Estate Inventory

One of the biggest sources of confusion is determining what actually needs to go on the inventory. The answer is broader than many executors expect: essentially every asset owned by the deceased at the time of death must be included.

Real Property

All real estate owned by the deceased must be listed, including:

• The primary residence
• Rental properties or investment real estate
• Land or vacant acreage
• Properties in other states (though NC inventory covers NC assets; multi-state property may require additional filings)

For real property, you’ll need the property address, a brief description of the property, and most importantly, the fair market value as of the date of death. This is typically determined by a recent appraisal or tax assessment.

Vehicles and Watercraft

Every vehicle, motorcycle, boat, or recreational vehicle owned by the deceased must be inventoried:

• Automobiles and trucks
• Motorcycles and ATVs
• Boats, jet skis, or other watercraft
• RVs or campers

Include the year, make, model, and fair market value at the date of death. If a vehicle has a lien against it, note both the asset value and the debt separately.

Bank Accounts and Cash

Cash on hand and all bank accounts must be listed:

• Checking accounts
• Savings accounts
• Money market accounts
• Certificates of deposit (CDs)

List each account separately with the institution name, account type, account number, and the balance as of the date of death. If the account is held jointly, specify how it was titled, this affects whether it’s fully included in the probate estate.

Investments and Securities

The estate likely includes investment accounts:

• Stock brokerage accounts
• Mutual fund accounts
• Bonds and bond funds
• 401(k)s and IRAs (if the deceased had no named beneficiary)
• Pension accounts
• Stock options or restricted stock

For investments, include the account holder information, security descriptions, quantity held, and the fair market value as of the date of death. This date-of-death valuation is critical for tax purposes and is exactly what the court requires.

Business Interests

If the deceased owned a business or partnership interest, it must be valued and included:

• Sole proprietorship equity
• Partnership or LLC interests
• Corporation stock or ownership stakes
• Professional practice goodwill

Business valuation can be complex and often requires professional appraisal or guidance from an accountant familiar with the business.

Personal Property

Often underestimated, personal property can represent significant estate value:

• Jewelry, watches, and antiques
• Art, collectibles, and memorabilia
• Furniture and household goods
• Tools and equipment
• Vehicles (already mentioned above)
• Clothing and accessories (valuable vintage items especially)
• Firearms and sporting equipment
• Collections (coins, stamps, trading cards, etc.)

While smaller personal items don’t need individual listing, valuable pieces should be separately valued and described. Many personal property categories benefit from professional appraisals to establish accurate date-of-death values.

Debts Owed to the Deceased

Don’t overlook assets owed to the estate:

• Loans the deceased made to others
• Accounts receivable from a business
• Promissory notes
• Security deposits

These should be listed with the debtor’s name, description of the debt, and estimated collectible value.

How to Value Estate Assets: Date-of-Death Valuation

The NC inventory requires fair market value as of the date of death, not current value. This distinction matters significantly for tax purposes and legal accuracy.

Fair market value is defined as the price at which property would sell between a willing buyer and a willing seller, neither being under pressure to buy or sell, and both having reasonable knowledge of relevant facts.

Valuation Methods by Asset Type

Real Property: Obtain a formal appraisal or use recent tax assessments as a starting point. Comparable sales analysis is another accepted method.

Vehicles: Use NADA Guides, Kelley Blue Book, or a dealer appraisal for fair market value at the date of death.

Bank and Investment Accounts: These are straightforward, use the account statement balances as of the date of death.

Securities: Use the closing price on the date of death. For publicly traded stocks, this is easily found through financial websites. Bonds and mutual funds use similar date-specific valuations.

Business Interests: Engage a business valuation expert. Methods include income capitalization, asset-based valuation, or comparable company analysis.

Personal Property: Auction house estimates, professional appraisals, or comparable sales data establish value. For larger collections, hire a specialist appraiser.

Real Estate Investment Trusts (REITs) and Alternative Investments: Use the closing value on the date of death.

Many executors struggle with valuation because they’re unsure where to find this historical data or which method to use. Professional guidance from an appraiser, accountant, or estate attorney helps ensure accuracy and minimizes audit risk.

The NC Court Form: AOC Inventory

North Carolina requires use of the official Accounts and Orders for Courts form, specifically the AOC Inventory of Personal Property and Real Property (also called the Asset Inventory form). This standardized form ensures courts receive consistent information and helps protect executors from disputes.

The form includes:

• Estate name and identification
• Date of death
• Executor/personal representative name
• Structured sections for different asset categories
• Columns for description, date-of-death valuation, and totals
• Signature blocks for executor and witness

The form itself guides you through proper categorization and documentation. Using the official AOC form demonstrates to the court that you understand probate requirements and have filed properly.

How Afterpath Simplifies Estate Inventory Management

Managing an estate inventory manually, gathering statements, tracking values, organizing categories, and meeting the deadline, is genuinely overwhelming for most executors. Afterpath transforms this process from a compliance nightmare into a manageable workflow.

Comprehensive Asset Inventory Feature

Afterpath’s asset inventory module is built specifically for executor needs. It includes pre-configured categories that match NC probate requirements:

• Real Property: Capture property addresses, descriptions, and appraisals
• Vehicles: Document automobiles, boats, motorcycles with full details
• Bank Accounts: Organize checking, savings, CDs by institution
• Investments: Track securities, mutual funds, retirement accounts
• Personal Property: Catalog jewelry, collectibles, and household assets
• Debts: Record liabilities and amounts owed to the estate

Rather than manually transcribing values from dozens of statements, Afterpath’s smart categorization helps you organize assets in the format courts expect.

OCR Technology for Instant Value Extraction

Afterpath eliminates manual data entry through Optical Character Recognition (OCR) technology. Upload bank statements, investment account statements, or appraisal documents, and Afterpath automatically extracts:

• Account balances
• Asset descriptions
• Security valuations
• Property values
• Account numbers and institution names

This automation reduces errors from manual transcription and saves executors hours of tedious data entry. A stack of financial statements becomes structured data in minutes.

90-Day Deadline Task Management

The Afterpath task system automatically tracks your 90-day filing deadline from the date of death. The system:

• Calculates the exact deadline based on date of death
• Sends reminders as the deadline approaches
• Tracks which assets still need valuation or documentation
• Flags incomplete inventory sections

Never miss another probate deadline. Afterpath keeps the 90-day requirement front and center throughout the inventory process.

Court-Ready Inventory Report Generation

Once you’ve entered all assets, Afterpath generates an official inventory report formatted to match NC AOC requirements. The system automatically:

• Organizes assets by proper court categories
• Calculates subtotals and total estate value
• Formats dates and valuations for court submission
• Creates a professional document ready to file

You get a court-compliant document without wrestling with forms or formatting.

Integrated Guidance with Pathfinder

Afterpath’s AI assistant, Pathfinder, provides real-time guidance throughout the inventory process. Pathfinder helps executors understand:

• Which assets must be included (and which shouldn’t)
• How to value different property types
• The importance of date-of-death valuation versus current value
• What documentation supports each valuation
• NC-specific probate requirements

Rather than consulting an attorney for every question about what to include, Pathfinder answers immediately, reducing confusion and building executor confidence.

Step-by-Step: Creating Your NC Estate Inventory

Follow this process to complete your inventory within the 90-day deadline:

1. Gather Financial Statements Collect bank statements, investment account statements, insurance documents, and property appraisals as of the date of death.

2. Create Asset Categories Use Afterpath’s pre-configured categories or create custom ones matching your estate’s composition. Real property, vehicles, accounts, investments, and personal property typically cover most estates.

3. Input or Upload Documents Enter asset information directly, or upload statements and let OCR extract the data. This saves significant time and reduces transcription errors.

4. Verify Valuations Review all values for accuracy. Confirm that values reflect the date of death, not current valuations.

5. Document Supporting Evidence Attach or reference appraisals, statements, and valuations supporting each asset entry.

6. Generate the Report Use Afterpath to generate the court-required inventory report formatted for NC probate court submission.

7. File with the Court Submit the completed inventory to the NC probate court before the 90-day deadline. Keep a copy for your records.

Common Mistakes to Avoid

Executors often stumble on several inventory issues:

• Excluding jointly-titled property: Some executors mistakenly leave off properties titled jointly with right of survivorship, thinking they pass outside the estate. The inventory should reflect all property the deceased owned, though how it’s titled affects whether it’s part of the probate estate.
• Using current values instead of date-of-death values: This is a major error. Always use valuations as of the date of death, not the inventory filing date.
• Undervaluing personal property: Jewelry, collections, and antiques often have more value than executors expect. Professional appraisal prevents undervaluation and protects beneficiaries.
• Missing retirement accounts: IRAs, 401(k)s, and pension accounts must be inventoried even if they have named beneficiaries.
• Forgetting accounts and property in other states: Include all NC property, and be aware of multi-state filing requirements for out-of-state assets.
• Filing late: The 90-day deadline isn’t flexible. Late filings trigger court involvement and potential complications.

Conclusion: Meeting Your NC Inventory Obligation

The NC 90-day estate inventory requirement protects beneficiaries, ensures proper probate administration, and documents your work as executor. While the process seems complex, determining what to include, valuing diverse assets, and formatting the court-required document, breaking it into steps makes it manageable.

Afterpath handles the overwhelming parts. Its asset inventory module, OCR-powered documentation extraction, 90-day deadline tracking, and court-compliant report generation transform estate inventory from a stressful compliance task into a structured, guided process. Pathfinder’s real-time guidance ensures you understand NC requirements and include everything properly.

Whether you’re managing a straightforward estate or handling complex property valuations, filing a complete and accurate inventory within the 90-day deadline is achievable with the right approach and tools. Start with Afterpath today and take the complexity out of estate administration.

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Ready to simplify estate inventory management? Afterpath guides you through every step of creating a court-compliant NC inventory. Start with a demo and see how executors nationwide use Afterpath to file on time and with confidence.