Basic Instructions After Qualification

BASIC INSTRUCTIONS AFTER QUALIFICATION

• Immediately publish a Notice to Creditors in a Forsyth County Newspaper. Contact the legal ad department and they will know how to word the ad, how long it is to run, etc. Currently, you may publish in one of the following:  Clemmons Courier, Kernersville News, Rural Hall Weekly Independent, Winston-Salem Chronicle, or Winston-Salem Journal.

INVENTORY

(APPOINTMENT REQUIRED) 

• Within 90 days of the date you were qualified as executor or administrator, an Inventory (Form No. AOC-E-505) must be filed. This is a detailed listing of the decedent’s date of death assets.  A Notice will be mailed to you within 90 days of the date you qualified. If you are unable to locate the forms provided to you at the time of qualification, you can obtain the forms by going to org or ncfcc.us. Please also refer to the “Estate Procedure” handout provided at qualification (AOC-E-850).
• Any accounts listed should include the name of the institution, the account number, type of account, and the exact date-of-death balance.
• When listing brokerage accounts, include the name of the firm, account number, itemization of securities held, number of shares per security, date of death values, and any cash balances.
• List all individually held stocks, bonds, etc. by company name, number of shares and certificate number, account number or serial number, with date of death value.
• List a value for household furnishings and miscellaneous tangible personal property, if any. Please note that if there are specific items left to an individual in a Last Will and Testament, these items will need to be itemized and a value stated for each item.
• List vehicles, mobile homes, etc. by year, make and model and vehicle identification number (VIN)
• If you have not already done so, bring a copy of the signature cards (front and back) for any joint accounts. Also, bring copies of beneficiary designations for life insurance policies, annuities, IRA’s, etc. if you did not know who the beneficiary was at the time of qualification. (The companies and/or banking institutions can provide this information.)
• If life insurance, annuities, or IRA’s are payable to the Estate, list the name of company, policy or account number, and amount payable. Please note that if the account consists of stocks, bonds or mutual funds, you are required to itemize the account as stated above for brokerage accounts.
• List any cash that decedent had on hand at the time of death.
• Itemize any checks on hand or checks that were due to the deceased on date of death and received later.
• Promissory Notes owed to the decedent should be described; e.g., maker, principal, interest rate, how payable, and if secured by a Deed of Trust, include the Book and Page Number.
• Describe real estate by property address, including the county, and provide the deed book and page number where the deed was recorded, or use the parcel identification number shown on the tax bill.
• Bring the Affidavit of Publication when you file the Inventory. (The newspaper will mail this to you.)
• Complete and file the Affidavit of Notice to Creditors (Form No. AOC-E-307).
• There will be a filing fee of 40¢ per $100.00. The fee is based on the total personal property (does not include real estate). Note: A processing fee will be charged for the use of a credit card.
• In order for you to receive all notices, forms, and correspondence from this office, you are responsible for notifying the Estates Division at (336) 779-6304 if you have a change of address. Also, if you hire, change, or dismiss an attorney, please advise this office in writing.

NOTE:  This is only a brief outline of the Court’s requirements for filing your Inventory.  It is not intended to cover any administration steps or legal requirements. It may be in your best interest to retain legal counsel.

Click Here for a printable version of this information.