Fill and Sign the Instructions for Preliminary Inventory on Side Two of Affidavit Form

(Over) INSTRUCTIO NS FOR PR ELIMI NARY INVEN TORY O N S ID E TWO OF A FFI DAVIT FO R C OLLEC TION O F PERSO NAL PROPER TY OF D ECEDENT, FO RMS A OC-E-203A and AOC-E-203B, Rev. 1/12 TH E C LER K IS TH E JUDG E OF PR OBA TE AND C ANNO T PRACTIC E LAW OR G IV E LEG AL ADVIC E. ACCO RDING LY, TH E CLER K'S STA FF CANNO T HELP Y OU FILL O UT TH IS FO RM. PARTS OF TH IS FO RM A RE S ELF-EX PLANATORY. HOWEV ER, FO R ANY NEC ESSARY ASSISTANCE, YO U S HOU LD CONSULT AN ATTO RNEY. Affi davi t For Collecti on Of Person al Pr operty O f Deced en t, For ms AOC-E-203A and AOC-E-203B, Rev. 1/12 Whether or not the decedent left a will, and regar dle ss of the value of an y real property owned by the decedent, if 1) the value of the decedent' s pers onal property , less lien s and encu mbrances (and less the spousal allowance under G.S. 30-15 $20,000 ($30,000 if the surviving s pouse is the a n y one quali fy ing as personal repre sentative, the G.S . 28A-25-1.1. An executor nam ed in the will, an heir, the nece ssary affidavit using thi s form , and there by qualif y the a ssets of the e state. Thi s part of the form is intended property , real and pe rsonal, wherever located, owne d b y Gen eral Instru ctions: Ty pe or print neatl yin blac k i nk. All value s reported s hould be the fair market valu eof the item as of th e date of d eath.If there is not sufficient s pace on this form, continue on a s eparate attac hment. Except where i nstructed to itemize, you s hould report in a l ump sum the es timated total value of all property in each category. A complete item ization and valuation of dece den t's property must be li sted on the final Affidavit Of Collection, Dis bursement and Dis tribution form (AOC-E-204) and filed with the clerk within thr ee m onths after the filing of the initial affida vit ( AOC-E-203A and AOC-E-203B).     PART I. PR OPER TY OF TH E ESTATE Depos its In S ole Nam e Of Decedent - For each account, li st the na me of the ins titution, the account num ber and the balance on the date of death. J oint Account s Without Right Of Survivors hip - F or each account, lis t the name of the ins titution, the account num ber, and the name(s) of the other joint owne r(s). If the percentage owne d by the decedent can be determ ined, report that percentage and the value of that percentage. If the percentage owne d b y the decedent i s unclear, report the percent ag e as 100%, and lis t the total amount on depos it on the date of death. A copy of the s ignature card or de pository contract should be attached eith er to thi s form or the final Affidavit Of Collection, Dis bursement And Dis tribution (AOC-E-204). S tocks And Bonds In Sole Nam e Of Decedent Or J ointly Owned Without Right Of S urvivorship - If the percentage owned by the decedent can be dete rmined, report that percentage and the value, in a lu m p s um , of that percentage. If the percentage owned is unclear, report the percentage as 100%, and li st the total value, in a lump s um, of all such s tocks and bonds . A detailed item ization of these assets must be reported in the final Affidavit Of Collection, Di sburs ement And Dis tribution (AOC-E- 204). through 7. The se categorie s s hould be s elf-explanat ory. Interes t in Partner ship Or S ole Proprietor Bu sine sses - Report all solely owned bus iness interes t and all partners hips in which the decedent was a general or li mited partner. Li st the na me of the bu siness or partners hip, the names of the s urviving partners , the decedent's percentage interes t in that partne rship, and the value of that par tner ship intere st or bus iness. through 11. The se categorie s s hould be s elf-explanat ory. 1. 2. 3. 4. 8. 9. " Account" includes account s in banks , savings and loan s and other financial in stitutions , including m oney market accounts with brokerage hous es or s imilar instituti ons. " Joint Account With Right Of Survivorship" is an account in the nam e of two or m ore persons in which the depos it agreement (1) is signed by all partie s and (2) expressly provides that, upon the death of one of the joint depos itors, the interes t of the decedent pa sses to the s urvivor(s ). Any joint account which i s not " with right of survivors hip" is a joint account without right of s urvivorship. " S tocks Or Bonds With Right Of Survivors hip" are s ecuritie s in which the certificate clearly states that upon the death of one of the joint owners the intere st of the decedent pa sses to the survivor(s ). Any jointly owned s ecurity which is not owned " with right of s urvivorship," is owned without right of s urvivorship. " S ecuritie s Regis tered In Beneficia ry F orm " m eans stocks , bonds , or other s ecurities officially registered with the i ssuer of the security indicating the current owner of t he securit y and the pe rson who will autom atically become the new owner of the s ecurity upon the death of the owner." (See G.S . 41-40 et. s eq.) AOC-E-203 Ins truction s, R ev. 1/12 © 2012 Adm inistrative Office o f the C ourts for a decedent dy ing on or after 1/1/12), does not exceed s ole hei r or devi see of the decedent), and 2) at leas t 30 days have pa ssed since the date of death without es tate may be adm inistered by affidavit as a small estate pursuant to G.S . 28A-25-1 and devis ee or cre ditor of the e state, with the approval of the Clerk of S uperior Court, may file as collecto r by affidavit of the es tate. Side Two of the form contains a preliminary listing of as a preli minary report to the clerk, heirs and creditors of the nature and probable value of the the decedent a s of the date of death. PART III. OTHER PROPERTY This part of the form is used to list certain property, rights and claims which are not administered by the collector by affidavit as part of the decedent's estate and which the collector cannot generally recover to pay debts of the decedent or claims against the estate. However, this property may be included in the value of th e "estate" for state or federal estate tax purp oses, or which are listed for the information of heirs and others to whom the property may pa ss. Entireties Real Estate - Indicate whether or not there is real estate jointly owned by the decedent and his or her surviving spouse as tenants by the entireties. Insurance, Retirement Plan, IRA, Etc., Payable To Persons Other Than the Estate - This category includes all life insurance proceeds, death benefits under pension and retirement plans, and the balance remaining in IRA, 401(k) and other similar accounts which, at the death of the decedent, pa ss to a beneficiary other than the estate. 1. 2. SIGNATURE - All applicants must sign. The signature of each must be separately notarized before a notary public or acknowledged before the clerk, assistant, or deputy. 12. 13. Real Estate Willed To The Estate - (NOTE :(a) Real property willed to any person or entity other than the estate must be reported in Part II, Item 5. (b) If any real estate has been willed to the estate, a personal representative must be appointed.) Indicate only real estate which the decedent devised (willed) to his or her estate or to his or her execut or in the capacity as executor (not as an individual). Usually, such a devise is accompanied by a direction to sell the real estate and distribute the proceeds as specified in the will. A listing of all such properties, together with an identification or legal description of each parcel or tract should be reported here, using fair market value as of the date of death. Estimated Annual Income Of The Estate - Income of the estate includes, for example, interest on checking and other accounts opened in the name of the estate, dividends and interest on stocks and bonds owned in the name of the estate, and other income to the estate. Income of the estate does not include interest on accounts, or dividends or interest on stocks or bonds, which pass directly to a surviving joint owner. PART II. PROPERTY WHICH CAN BE ADDED TO ESTATE IF NEEDED TO PAY CLAIMS This part of the form is used to list certain kinds of property which the decedent owned or in which the decedent had an interest during his or her life time, which are not ordinarily part of the estate, but which may be recovered by the personal representative if the a ssets of the estate are not sufficient to pay all the debts of the decedent and claims against the estate. Joint Accounts With Right Of Survivorship Under G.S.41-2.1 - List all joint accounts with right of survivorship. For each account, list the name of the financial institution, the account number, the names of the other joint owners, and the total balance on the date of death. Attach a copy of the signature card or depository contract of each such account to the form or to your final Affidavit Of Collection, Disbursement And Distribution (AOC-E-204). Stocks/Bonds/Securities Registered In Beneficiary Form Or Jointly Owned With Right Of Survivorship. - A lump sum total of the value of all such stocks or bonds should be reported here. A detailed itemization of these assets must be reported in the final Affidavit Of Collection, Disbursement And Distribution (AOC-E-204). It also includes securities registered in beneficiary form and immediately transferrable on death. Other Personal Property Recoverable Under G.S. 28A-15-10 - This category includes accounts which are called "Trustee Accounts" in the signature card or deposit agreement or in which the decedent otherwise established a "Tentative" or "Totten" trust; securities registered in beneficiary form and automatically transferred on death; property which the decedent gave to someone in contemplation of his or her own death; and property transferred by the decedent, without receiving adequate consideration, with the intent to hinder, delay or defraud his or her creditors. If you believe there may be any property which falls into this category, you may wish to consult an attorney. Real Estate Owned By The Decedent And Not Listed Elsewhere - ( NOTE:Real estate owned by the decedent and spouse as tenants by the entireties should be reported in Part III. Do not report real estate in which the decedent had an interest only for his or her lifetime. ) A detailed lis ting of all other interests in real estate owned by the decedent together with an identification or legal description of each parcel or tract should be reported here using fair market value as of the date of death. 1. 2. 3. 4. AOC-E-203 Instructions, Side Two, Rev. 1/12 © 2012 Administrative Office of the Courts