What exactly do I need to submit in the inventory and accounting to get court approval?: A South Carolina guide

Short Answer

In South Carolina, the personal representative generally must file an inventory that identifies each probate asset, its fair market value on the date of death, and any lien or other encumbrance. The final accounting must explain every receipt, expense, distribution, and asset still on hand, and the figures must reconcile with the inventory. Court approval usually also requires a proposal for distribution, an application for settlement, required notices, and proof that interested persons were sent the closing documents.

Understanding the Problem

What must a South Carolina personal representative submit to the Probate Court so the inventory is complete and the final accounting can be approved? The decision turns on whether the filings identify all probate property, document how the personal representative handled that property, and account for the estate from appointment through the proposed closing.

Apply the Law

The personal representative files the inventory and closing documents with the Probate Court handling the estate, usually in the county where the deceased person lived. The inventory generally uses Inventory and Appraisement Form 350ES and is due within 90 days after appointment. A final accounting commonly uses Accounting Form 361ES, but the personal representative should confirm the current forms and local filing requirements with the county Probate Court.

Key Requirements

Complete inventory: List each probate asset with enough detail to identify it, including real estate, financial accounts, vehicles, tangible property, refunds, and amounts owed to the estate. State each asset’s fair market value as of the date of death and identify any mortgage, lien, pledge, or other encumbrance.
Transaction-by-transaction accounting: Begin with the inventoried assets and show all later receipts, income, sale proceeds, expenses, creditor payments, fees, distributions, and property remaining. Dates, amounts, recipients, and purposes should be clear enough for the court to follow the movement of estate property.
Reconciliation and closing documents: The accounting’s ending balance must equal the cash and property still held or proposed for distribution. The closing package generally includes a proposal for distribution, an application for settlement, required notice documents, proof that the required notices and closing documents were sent, proof of publication of the creditor notice, and any receipts or releases required by the court.

What the Statutes Say

S.C. Code § 62-3-706 (Inventory and Appraisement) – Requires the inventory within 90 days after appointment and requires reasonable detail, date-of-death values, and encumbrance information.
S.C. Code § 62-3-708 (Supplementary Inventory) – Requires a corrected or supplemental inventory when omitted property or materially incorrect information comes to light.
S.C. Code § 62-3-1001 (Accounting and Settlement Filings) – Identifies the accounting, distribution proposal, settlement application, notice, and proof-of-delivery requirements for closing an estate.
S.C. Code § 62-3-1002 (Required Tax Showing) – Prevents approval of a final accounting unless the accounting shows that applicable fiduciary taxes have been paid or secured. Questions about tax filings should go to a tax attorney or CPA.

Analysis

Apply the Rule to the Facts: Because no asset details were provided, consider an estate with a bank account, vehicle, and house. The inventory should separately describe each probate asset, state its date-of-death value, and disclose any vehicle loan or mortgage; the accounting should then trace the funds received and every payment or distribution made from those assets.

If the personal representative discovers another account after filing the inventory, the original figures should not simply be changed in the final accounting. A supplemental or corrected inventory should identify the account, state its date-of-death value, explain the valuation information used when appropriate, and restate the unchanged inventory information.

Process & Timing

Who files: The appointed personal representative. Where: The South Carolina Probate Court administering the estate. What: A completed Inventory and Appraisement, commonly Form 350ES, listing probate assets, date-of-death values, and encumbrances. When: Within 90 days after appointment, unless the court grants an extension.
Maintain the accounting: Keep the estate account separate and preserve bank statements, deposit records, invoices, canceled checks, closing statements, valuation materials, and distribution receipts. Prepare a chronological accounting that starts with the inventory, records every estate transaction, and reconciles to the property still held.
Submit the closing package: File the full accounting, proposal for distribution, application for settlement, proof that the notice of the right to demand a hearing and copies of the closing documents were sent to all interested persons, and notice to unpaid or unbarred known claimants. The filing deadline arises after the applicable claim-dispute periods and proceedings have ended or, when an estate-tax return was filed, within 90 days after receipt of the applicable closing letter, whichever statutory trigger occurs later.
Obtain approval: Unless valid waivers apply, the court generally may approve the accounting and settlement after 30 days have passed from filing proof that the required notice was sent. The court may request corrections, supporting records, receipts, or an amended distribution proposal before entering its final order.

Exceptions & Pitfalls

All interested persons may be able to waive the accounting, proposal for distribution, or notice of the right to demand a hearing, but the waiver does not automatically eliminate every closing document. The application for settlement and other required proofs may still be necessary.
An estate eligible for South Carolina’s summary administration procedure may close through a verified statement rather than the ordinary final-accounting process. The current net probate-estate threshold is $45,000, with statutory adjustments for specified property and expenses; the procedure can also apply when the appointed personal representative or representatives are the sole devisees or heirs.
Do not mix estate money with personal funds. Unexplained transfers, cash withdrawals, missing statements, duplicate expenses, and totals that do not reconcile commonly delay approval.
Nonprobate property generally does not belong on the probate inventory merely because the deceased person had an ownership connection to it. A separate list may be required when an interested person properly demands information about known nonprobate property.
Mail a filed inventory to anyone who made a valid demand for notice, and provide supplemental inventory information to the people entitled to receive it. Missing notice can create disputes even when the asset figures are accurate.
Keep documentation for valuations and transactions even if the initial filing does not require every attachment. The Probate Court may ask for appraisals, statements, invoices, canceled checks, settlement statements, or signed distribution receipts.

For more detail on the first filing, see this guide to preparing a South Carolina probate inventory and appraisal. Questions about ongoing reporting are discussed in the article on filing an estate accounting in South Carolina Probate Court.

Conclusion

To obtain South Carolina Probate Court approval, the personal representative must submit an inventory that lists each probate asset, its date-of-death value, and any encumbrance, followed by an accounting that reconciles all receipts, payments, distributions, and remaining property. The closing package generally also needs a distribution proposal, settlement application, required notices, and proof that the required notices and closing documents were sent. File the inventory with the Probate Court within 90 days after appointment.

Talk to a Probate Attorney

If an inventory, accounting, or closing package does not reconcile or the Probate Court has requested additional documents, our firm has experienced attorneys who can help identify the required filings, supporting records, and applicable deadlines.

Disclaimer: This article provides general information about South Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed South Carolina attorney.