How to Complete the AOC-E-505 Inventory for Decedent’s Estate in North Carolina

The AOC-E-505 inventory for a decedent’s estate is the North Carolina court form every executor or administrator uses to list what the deceased person owned. You file it with the Clerk of Superior Court in the county administering the estate, and the deadline is three months after you qualify as personal representative.¹ The form has three parts covering estate property, non-probate property that could be pulled in to pay debts, and wrongful death claims. Download the current fillable PDF from the North Carolina Judicial Branch website.²

What Goes in Each Part

Where you list an asset depends on how it was owned, not just what it is. Putting something in the wrong part can throw off the fee calculation and slow the clerk’s review.

Part I: Property of the Estate

Part I captures everything the estate actually controls. The seven line items are:³

Accounts in the decedent’s sole name: checking, savings, CDs, and money market accounts with no payable-on-death beneficiary or survivorship co-owner.
Joint accounts without right of survivorship.
Stocks and bonds in sole name, or jointly owned without right of survivorship.
Cash and undeposited checks on hand.
All other personal property: vehicles, household furnishings, farm equipment, tools, jewelry, collectibles, and other tangible items.
Real estate willed to the estate and directed to be sold, already sold: report the sale proceeds.
Real estate willed to the estate and directed to be sold, not yet sold: attach a legal description and report fair market value at date of death.

Part I also asks whether a lawsuit involving the decedent is pending. Check the box even if the claim’s value is not yet clear.

Part II: Property That Can Be Added to the Estate

Part II lists assets that pass outside probate but could be reached if the estate’s debts exceed its Part I assets:³

Joint accounts with right of survivorship.
Stocks, bonds, and securities jointly owned with right of survivorship or registered in beneficiary form.
Other recoverable personal property under G.S. 28A-15-10, meaning certain transfers the decedent made shortly before death that can be clawed back if needed.
Real estate not already listed in Part I, meaning property that passed directly to heirs or devisees by operation of law, excluding entireties property and life estates.

These assets usually pass outside probate, but North Carolina still requires you to report them so the court sees the full picture.

Part III: Wrongful Death Claims

Part III is a single checkbox indicating whether a potential wrongful death claim exists under G.S. 28A-18-2. If a claim later produces a settlement or judgment, you add it through a supplemental inventory. If you are unsure, disclose the possible claim in an attachment rather than omit it.

Gathering Values and Documents

Every value on the form is fair market value as of the date of death, not the purchase price and not the county tax assessment.⁴ Report each amount at its full gross value. Do not subtract mortgages, liens, or other debts; those are handled separately during administration.

Bank and brokerage accounts: request a date-of-death balance letter from each institution. Most will provide one once you present your letters of qualification.
Vehicles: use the title to confirm ownership and VIN, then value the vehicle using Kelley Blue Book or NADA for its condition at date of death.
Real estate: attach a legal description from the recorded deed for each parcel. A professional appraisal is the most defensible valuation, though a comparative market analysis from a licensed agent is sometimes used for lower-value properties.³
Household furnishings: usually grouped into one line with a reasonable lump-sum estimate unless individual items have significant value.
Jewelry, art, antiques, and collectibles worth more than a few hundred dollars: appraise individually.
Life insurance: only policies payable to the estate belong on the inventory. Policies naming a specific person as beneficiary are non-probate.
Closely held business interests: get a formal valuation from a qualified business appraiser, since there is no market price to look up.
Digital assets: cryptocurrency wallets, domain names, online marketplace stores, and digital media libraries with resale value all need to be identified and valued. North Carolina’s Revised Uniform Fiduciary Access to Digital Assets Act, in Chapter 36F, gives personal representatives authority to access these accounts, though providers may require your letters of qualification and sometimes a court order. Start with the decedent’s email, since subscription confirmations and billing notices often reveal other accounts.⁵

Filling In and Signing the Form

At the top, enter the county, the decedent’s full legal name, and the estate file number assigned when the estate was opened.

In Part I, itemize within each category. List each bank account separately with the institution name and last four digits. Under “All Other Personal Property,” give a brief description of each item or group. Total each line, then add the lines for a Part I grand total.

In Part II, list non-probate assets the same way, with legal descriptions attached for any real estate. Total Part II separately.

In Part III, check the appropriate box for a potential wrongful death claim.

Sign the completed form under oath before a notary. One notarized signature covers the whole submission, including attachments for real property descriptions.¹ Double-check every figure before signing. A misplaced decimal can change the fee or trigger a clerk inquiry.

Where to File and What It Costs

File the notarized form with the Clerk of Superior Court in the county administering the estate. The three-month deadline runs from the date you received your letters of qualification, not from the date of death.¹

Under N.C.G.S. 7A-307, the court charges a base of $106 plus $0.40 for every $100 of the gross estate, or any major fraction of $100. The fee is capped at $6,000, with a $15 minimum.⁶ “Gross estate” for this calculation includes the fair market value of all personal property received and any proceeds from real estate sales. Unsold real estate is not included.

For example, if the personal property totals $200,000, the fee is $106 + ($0.40 × 2,000) = $906.

If You Need More Time

The clerk can extend the three-month deadline, but you have to ask before it passes.¹ Common reasons include pending appraisals, tracing assets across states, or resolving ownership disputes. File a petition with the clerk that includes the estate name and file number, your qualification date, the current deadline, the additional time requested, and the reason. Attach a supporting affidavit. Some clerks grant extensions on the paperwork alone; others hold a brief hearing.

What Happens If You Miss the Deadline

The clerk issues an order requiring you to file the inventory within at least 20 days or show cause why you should not be removed. If you still have not filed by the return date and have not obtained more time, the clerk can remove you as personal representative, hold you in contempt, and even order your detention until you comply. You also become personally liable for the costs of the enforcement proceeding, and the clerk can deduct those costs from any commissions you would otherwise receive.⁷

If a personal representative cannot be located at all and the inventory remains unfiled, the clerk can revoke the letters of qualification outright without a hearing.⁸

Adding Assets Later: Supplemental Inventories

Finding additional property after filing is common, especially out-of-state bank accounts or forgotten safe deposit boxes. Use the same AOC-E-505 to file a supplemental inventory listing only the newly discovered assets.⁹ A separate fee applies to the added value at the same $0.40-per-$100 rate.⁶ There is no specific deadline, but file promptly. The enforcement provisions that apply to the original inventory apply to supplemental filings too.

Federal Tax Consequences of Your Values

The numbers on the AOC-E-505 can carry federal tax weight. For 2026, estates exceeding $15,000,000 in gross value must file a federal estate tax return on IRS Form 706.¹⁰ When a Form 706 is required, the executor must also file IRS Form 8971, which reports the estate tax value of property distributed to each beneficiary so they use the correct cost basis on later sales.¹¹

Even for estates well below that threshold, the inventory values establish the stepped-up basis heirs inherit for income tax purposes. An undervalued inventory today means a larger taxable gain when a beneficiary sells the property later, which is why professional appraisals pay off on higher-value assets.

1
North Carolina General Assembly. North Carolina General Statutes 28A-20-1 – Inventory Within Three Months
2
North Carolina Judicial Branch. Inventory For Decedent’s Estate
3
North Carolina Judicial Branch. Inventory For Decedent’s Estate
4
North Carolina Judicial Branch. Instructions for Preliminary Inventory on Side Two of Application for Probate and Letters
5
North Carolina General Assembly. North Carolina General Statutes Chapter 36F – Revised Uniform Fiduciary Access to Digital Assets Act
6
North Carolina General Assembly. North Carolina General Statutes 7A-307 – Costs in Administration of Estates
7
North Carolina General Assembly. North Carolina General Statutes 28A-20-2 – Compelling the Inventory
8
North Carolina General Assembly. North Carolina General Statutes 28A-9-2 – Revocation Without Hearing
9
Justia Law. North Carolina General Statutes 28A-20-3 – Supplemental Inventory
10
Internal Revenue Service. Estate Tax
11
Internal Revenue Service. About Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent