South Carolina Probate Form 350ES LF

Inventory And Appraisement Lf (Mandatory)

Everything you need to know about South Carolina Form 350ES LF, including helpful tips, fast facts & deadlines, how to fill it out, where to submit it and other related SC probate forms.

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About Inventory And Appraisement Lf (Mandatory)

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Inventory And Appraisement Lf (Mandatory) is a commonly used form within South Carolina. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Inventory And Appraisement Lf (Mandatory)

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Inventory And Appraisement Lf (Mandatory):

  • This form pertains to the State of South Carolina

  • The official South Carolina source for this form is here.

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about South Carolina’s Form 350ES LF - Inventory And Appraisement Lf (Mandatory) up to date, certain details can change from time-to-time with little or no communication.

How to file Form 350ES LF

Step 1 - Download the correct South Carolina form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some South Carolina probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form 350ES LF, take a break, and then review. Probate and estate settlement processes in SC are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form 350ES LF online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form 350ES LF witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Inventory And Appraisement Lf (Mandatory) to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

👉 Find and Contact your Local Probate Court

👉 What is a Domicile Jurisdiction?

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When Inventory And Appraisement Lf (Mandatory) is due

Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in South Carolina.

5 reasons you should submit 350ES LF as quickly as possible:

  1. The sooner you begin, the faster South Carolina can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.

    Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

  2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

  3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

  4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in South Carolina. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

  5. If a house in the State of South Carolina is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for South Carolina probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local South Carolina probate clerk or court for exact answers regarding Form 350ES LF, and when in doubt— consult a qualified trust & estates lawyer for that area.

How to Download, Open, and Edit Form 350ES LF Online

Inventory And Appraisement Lf (Mandatory) is one of the many probate court forms available for download through Atticus.

It may also be available through some South Carolina probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within South Carolina.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form 350ES LF - Inventory And Appraisement Lf (Mandatory) f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the South Carolina probate court office.

Inventory And Appraisement Lf (Mandatory) is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any South Carolina-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

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Did you know?

  • Form 350ES LF - Inventory And Appraisement Lf (Mandatory) is a probate form in South Carolina.

  • South Carolina has multiple types of probate and the necessary forms depend on the unique aspects of each estate, such as type and value of assets, whether there was a valid will, who is serving as the personal representative or executor, and even whether or not they also live in South Carolina.

  • During probate, all personal representatives and executives in are required to submit a detailed inventory of assets that must separate non-probate assets from probate assets.

  • Probate in South Carolina, especially without guidance, can take years to finish and cost upwards of $14,000.

Frequently Asked Questions about Inventory And Appraisement Lf (Mandatory)

Probate is the government’s way of making sure that when a person dies, the right stuff goes to the right people (including the taxes the government wants).

All of that stuff is collectively known as someone’s “estate”, and it’s the job of the executor or personal representative to fill out all the forms and complete all the required steps to formally dissolve the estate. 

To get instant clarity on the entire probate process and get an idea of the steps, timeline, and best practices, read the Atticus Beginner’s Guide to Probate

The best place? Create an account in Atticus to start getting estate-specific advice. 

You may need a lawyer, you may not, and paying for one when you didn’t need it really hurts. Atticus makes sure you make  the best decisions (plus you can write it off as an executor expense).

We’ve also created a list of other probate services. Be sure to check it out!

An executor is named in someone’s will, and if the deceased didn’t have a will, then the spouse or other close family relative usually steps up to fulfill the role. If no one wants to do it, then a judge will appoint someone. 

The executor is responsible for the complete management of the probate process, including major responsibilities such as:

  • Creating an inventory of all probate assets.

  • Filling out all necessary forms

  • Paying off all estate debts and taxes

  • Submitting reports to the court and beneficiaries as requested

And much more. This process often stretches longer than a year. 

For an idea of what separates executors who succeed from those who make this way harder than it should be, visit our article, Executors of an Estate:
What they do & secrets to succeeding
.

The Exact Text on Form 350ES LF

Here’s the text, verbatim, that is found on South Carolina Form 350ES LF - Inventory And Appraisement Lf (Mandatory). You can use this to get an idea of the context of the form and what type of information is needed.

FORM #350ES LF (04/2017) Page 1 of 4 62-2-805, 62-3-704, 62-3-706, 62-3-707, 62-3-708, 62-3-1203, 62-3-1204 File the original Inventory and Appraisement with the Probate Court within ninety (90) days following the fiduciary appointment. A copy shall be sent to each interested person who has demanded it. A Proof of Delivery must be filed with the Court. The gross fair market value of all probate assets, regardless of location (whether in this state or elsewhere), should be listed as of the date of death. Continue on additional sheets if necessary. An Amended Inventory should be utilized for correcting, adjusting or adding to an original inventory, and must restate the unchanged information from the original Inventory. A qualified and disinterested appraiser may be employed to ascertain the value of any asset. If an appraiser is employed, his/her name and address must be indicated with t he item or items he/she appraised. RECAPITULATION Non-Probate Probate (OPTIONAL) Schedule A - Real Estate ...................................................................................................... ....................... $ Schedule B - Stocks and Bonds ............................................................................................ ....................... $ Schedule C - Notes Due Decedent and Cash ....................................................................... ....................... $ Schedule D - Insurance on Decedent’s Life - Part 1 - Payable to Estate .............................. ....................... $ Part 2 - Payable to Beneficiary ..................... $ Schedule E - Jointly Owned Property .................................................................................... $ Schedule F - Other Miscellaneous Assets Payable to Estate ................................................ ....................... $ Schedule G - Transfers During Decedent’s Life .................................................................... $ $ Schedule H - Powers of Appointment .................................................................................... $ $ Schedule I - Annuities and Retirement Accounts ................................................................ $ $ GROSS VALUE OF PROBATE ESTATE ............................................................................. ....................... $ The undersigned, being sworn, states: That the following schedules contain a complete and accurate inventory and appraisement of all probate real and personal property of this estate so far as the undersigned is informed; that he/she has estimated and/or appraised all listed property at its fair market value, according to the best of his/her knowledge and ability. Personal Representative SWORN to before me this day of Signature: , 20 Print Name: Address: Notary Public for South Carolina Telephone (Work): My Commission Expires: (Home): (Cell): (Email): Attorney: Co-Personal Representative Signature (if applicable) Address: Name: Address: Telephone: Email: Telephone (Work): Telephone (Home): (Cell): (Email): STATE OF SOUTH CAROLINA ) IN THE PROBATE COURT ) COUNTY OF: ) INVENTORY AND APPRAISEMENT ) ORIGINAL ) AMENDED # ) (must restate the unchanged information from the original Inventory) IN THE MATTER OF: ) ) CASE NUMBER: (Decedent) ) FORM #350ES LF (04/2017) Page 2 of 4 62-2-805, 62-3-704, 62-3-706, 62-3-707, 62-3-708, 62-3-1203, 62-3-1204 WHEN COMPLETING THE FOLLOWING SCHEDULES LIST ALL PROBATE ASSETS, REGARDLESS OF LOCATION. ALL OUT- OF-STATE PROBATE ASSETS MUST BE DISCLOSED. NON-PROBATE PROPERTY NEED NOT BE DISCLOSED. ____________________________________________________________________________________________________________________________________________ SCHEDULE A – REAL ESTATE. List below any real estate in Decedent’s name alone or tenants in common (not as joint with right of survivorship or tenants in the entirety). Describe each property by listing its full address, tax map number, deed book and page, and description consistently (for example: house, lot, buildings, acreage). Also list oil/mineral rights and time shares if it is real property. If none, so state. If the property is encumbered, list the full fair market value of the property here and the encumbrance on the Encumbrance Schedule below. (For jointly owned property with right of survivorship, you may list in Schedule E.) Item No. Description % owned by Decedent Fair Market Value Value of Decedent’s interest 1. Tax Map Number: 2. Tax Map Number: 3. Tax Map Number: TOTAL SCHEDULE A $ (also enter under recapitulation, page 1) SCHEDULE B – STOCKS AND BONDS. List below all stocks and bonds in the Decedent’s name alone or tenants in common (not as joint with right of survivorship). Identify each type of security and the number of shares. If none, so state. (For jointly owned property with right of survivorship, you may list in Schedule E. Item No. Description Face Value Appraised Value 1. 2. 3. 4. TOTAL SCHEDULE B $ (also enter under recapitulation, page 1) _____________________________________________________________________________________________________________ SCHEDULE C – CASH, BANK ACCOUNTS, NOTES RECEIVABLES. List all bank accounts owned by Decedent alone or as tenants in common (checking, savings, CDs, money market, brokerage, employment bonus, cash award, final paycheck, etc.), cash on hand, notes payable to Decedent, and survival action proceeds. If none, so state. List each separate account type and institution and last two digits of the account. (For jointly owned property with right of survivorship, you may list in Schedule E.) Item No. Description Value 1. 2. 3. SCHEDULE D - LIFE INSURANCE (If none, so state.) Part 1 - Life Insurance – List the insurance on the life of the Decedent which is payable to the Estate. Item No. Description Value 1. 2. 3. TOTAL PART 1 $ (also enter under recapitulation, page 1) (If more space is required, insert additional sheets of same size.) Part 2 (OPTIONAL) - You may list here the insurance on the life of the Decedent which is payable to beneficiaries. TOTAL SCHEDULE C $ (also enter under recapitulation, page 1) FORM #350ES LF (04/2017) Page 3 of 4 62-2-805, 62-3-704, 62-3-706, 62-3-707, 62-3-708, 62-3-1203, 62-3-1204 Item No. Description Beneficiary Value 1. 2. 3. TOTAL PART 2 $ (also enter under recapitulation, page 1) ______________________________________________________________________________ SCHEDULE E - (OPTIONAL) JOINT WITH RIGHT OF SURVIVORSHIP– You may list below any non-probate property jointly owned by the Decedent with another with right of survivorship. List each separate account type and institution and the last two digits of each account. Item No. Description Joint Owner(s) Percentage Includible Value of Decedent’s Interest 1. 2. 3. TOTAL SCHEDULE E $ (also enter under recapitulation, page 1) SCHEDULE F – OTHER MISCELLANEOUS ASSETS PAYABLE TO ESTATE. List below any tangible personal property, including household goods & furnishings, vehicles, boats/motors/trailers, mobile homes that are not de-titled (Include year/make/model/VIN, if applicable), airplanes, equipment, interest in a partnership or unincorporated business, articles or collections having either artistic or intrinsic value, including coins, guns, artwork, jewelry, etc., and any other miscellaneous probate items not listed elsewhere, including any digital assets. If none, so state. (For jointly owned tangible personal property with right of survivorship, you may list in Schedule E.) Item No. Description Value 1. 2. 3. 4. 5. TOTAL SCHEDULE F $ (also enter under recapitulation, page 1) ___________________________________________________________________________________________________________ NOTE: FOR SCHEDULES G, H, AND I. LIST VALUES ONLY IF PAYABLE TO ESTATE. ___________________________________________________________________________________________________________ SCHEDULE G – TRANSFERS DURING DECEDENT’S LIFE. List any transfers intended to take effect at death if such property is payable to the Estate. You may list in the “Optional” section below any non-probate transfers intended to take effect at death not payable to the Estate, including United States Government Bonds “Payable on Death,” accounts which are “Transfer on Death,” a trust created by Decedent in which income for life was retained by the Decedent, power to revoke or other incidents of ownership retained by the Decedent, lifetime transfers of real property in which Decedent retained life estate, etc. If none, so state. List date and type of transfer and list total amount payable to estate: 1. 2. (OPTIONAL) describe and list amounts not payable to estate: 1. 2. TOTAL SCHEDULE G $ (also enter under recapitulation, page 1) (If more space is required, insert additional sheets of same size.) FORM #350ES LF (04/2017) Page 4 of 4 62-2-805, 62-3-704, 62-3-706, 62-3-707, 62-3-708, 62-3-1203, 62-3-1204 SCHEDULE H – POWERS OF APPOINTMENT. List property, both real and personal, over which Decedent possessed a Power of Appointment whether testamentary or otherwise, if such property is payable to the Estate. You may list property subject to such power if it was not payable to the Estate in the “Optional” section below. If none, so state. Describe and list total amount payable to estate: 1. 2. (OPTIONAL) describe and list amounts not payable to estate: 1. 2. TOTAL SCHEDULE H $ (also enter under recapitulation, page 1) SCHEDULE I – ANNUITIES AND RETIREMENT ACCOUNTS (IRA's, 401(K), etc.). List any annuities or retirement accounts owned by the Decedent and payable to the Estate. You may list in the “Optional” section below any accounts payable to a beneficiary which is not payable to the Estate. Describe and list total amount payable to estate: 1. 2. 3. (OPTIONAL) describe and list amounts not payable to estate: 1. 2. 3. TOTAL SCHEDULE I $ (also enter under recapitulation, page 1) ENCUMBRANCES (e.g., mortgages, liens, judgments, etc., but not general debts of the estate). List debts of the Decedent secured by assets on the above Schedules and describe the debt and the specific asset encumbered. Item No. Schedule & Item Number Encumbered Thereby Description & Amount 1. 2. 3. TOTAL ENCUMBRANCES $ (If more space is required, insert additional sheets of same size.)

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