Inventory And Appraisement Sf (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 Sf (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 Sf (Mandatory)

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

• This form pertains to the State of South Carolina

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 SF - Inventory And Appraisement Sf (Mandatory) up to date, certain details can change from time-to-time with little or no communication.

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 SF, 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 SF 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 SF 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 Sf (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.

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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 SF 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 SF, and when in doubt— consult a qualified trust & estates lawyer for that area.

Inventory And Appraisement Sf (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 SF - Inventory And Appraisement Sf (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 Sf (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.

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

FORM #350ES SF (04/2017) Page 1 of 2 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 d ate 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 the item or items he/she appraised. RECAPITULATION Schedule A - Real Estate ................................................................................................................................... $ Schedule B - Stocks and Bonds......................................................................................................................... $ Schedule C - Notes Due Decedent and Cash .................................................................................................... $ Schedule D - Insurance on Decedent’s Life - Payable to the Estate .................................................................. $ Schedule E - Jointly Owned Property ................................................................................................................ NA Schedule F - Other Miscellaneous Assets ......................................................................................................... $ Schedule G - Transfers During Decedent’s Life Payable to the Estate .............................................................. $ Schedule H - Powers of Appointment Payable to the Estate ............................................................................ $ Schedule I - Annuities and Retirement Accounts Payable to the Estate ........................................................... $ 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 ap praised 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 Address: Name: Address: Telephone: Email: Telephone (Work): (Home): (Cell) (Email): STATE OF SOUTH CAROLINA ) IN THE PROBATE COURT ) COUNTY OF: ____________________________ ) INVENTORY AND APPRAISEMENT: PROBATE PROPERTY ) ORIGINAL ) AMENDED #______ ) (must restate the unchanged information from the original Inventory) IN THE MATTER OF: ) ________________________________________ ) CASE NUMBER: _________________________________ (Decedent) ) (If none, so state) FORM #350ES SF (04/2017) Page 2 of 2 62-2-805, 62-3-704, 62-3-706, 62-3-707, 62-3-708, 62-3-1203, 62-3-1204 A. REAL ESTATE in Decedent’s name alone or tenants in common (not as joint with % Owned Fair Market Value of right of survivorship). Describe each property by listing its full address, tax map number, deed by Decedent Decedent’s Interest book and page and description consistently (house, lot, buildings, acreage). Also list oil / mineral rights and time shares, if it is real property. If the property is encumbered, list the full fair market value of the property here and the encumbrance on Encumbrance section below 1. 2. 3. B. STOCKS, BONDS in Decedent’s name alone or tenants in common (not as joint with right of survivorship). List each type of security and number of shares. 1. 2. 3. C. CASH, BANK ACCOUNTS, NOTES RECEIVABLES in Decedent’s name alone or as tenants in common. List each separate account type and institution and the last two digits of each account. 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. 1. 2. 3. D. LIFE INSURANCE payable to the Decedent’s estate. 1. 2. E. JOINTLY OWNED PROPERTY – REPORTING IS NOT REQUIRED N/A_________________ F. ALL OTHER MISCELLANEOUS PERSONAL PROPERTY in Decedent’s name alone or as tenants in common. 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 1. 2. 3. 4. G. TRANSFERS DURING DECEDENT’S LIFE PAYABLE TO ESTATE ONLY Any transfers intended to take effect at death if payable to the Estate shall be reported. 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. 1. 2. H. POWERS OF APPOINTMENT PAYABLE TO THE ESTATE ONLY 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. 1. I. ANNUITIES AND IRA, ETC. PAYABLE TO THE ESTATE ONLY List any annuities or retirement accounts owned by the Decedent and payable to the Estate. 1. 2. TOTAL PROBATE ESTATE VALUE $ 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 schedule and describe the debt and the specific asset encumbered. 1. 2. TOTAL ENCUMBRANCES $