Instructions For Preliminary Inventory For Letters Of Administration (Form AOC-E-202)
Application For Letters Of Administration, Form AOC-E-202
If the decedent died without a will, a person authorized under G.S. 28A-4-1 may qualify to administer the estate by applying to the Clerk
of Superior Court using this form. Side Two of this form contains a preliminary listing of the assets of the estate. This part of the form
is intended as a preliminary report to the clerk, heirs and creditors of the nature and probable value of the property, real and personal,
wherever located, owned by the decedent as of the date of death.
General Instructions:
Type or print neatly in black ink.
All values reported should be the fair market value of the item as of the date of death. If there is not sufficient space on the form,
continue on a separate attachment.
Except where instructed to itemize, you should report in a lump sum the estimated total value of all property in each category. A
complete itemization and valuation of decedent’s property must be listed on the Inventory Form (AOC-E-505) and filed with the clerk
within three months after qualifying.
- “Account” includes accounts in banks, savings and loans and other financial institutions, including money market accounts with
brokerage houses or similar institutions.
- “Joint account with right of survivorship” is an account in the name of two or more persons in which the deposit agreement (1) is
signed by all parties and (2) expressly provides that, upon the death of one of the joint depositors, the interest of the decedent
passes to the survivor(s). Any joint account which is not “with right of survivorship” is a joint account without right of survivorship.
- “Stocks or bonds with right of survivorship” are securities in which the certificate clearly states that upon the death of one of the
joint owners the interest of the decedent passes to the survivor(s). Any jointly owned security which is not owned “with right of
survivorship” is owned without right of survivorship.
- “Securities registered in beneficiary form” means stocks, bonds, or other securities officially registered with the issuer of the
security indicating the current owner of the security and the person who will automatically become the new owner of the security
upon the death of the owner.” (See G.S. 41-40 et seq.)