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On final accounting form in NC does line 1 include the

Customer Question
On final accounting form...

On final accounting form in NC does line 1 include the banking account and real estate fmv from inventory

Lawyer's Assistant: What documents or supporting evidence do you have?

My inventory form that was filed

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

And if u sell a house that is part of the estate and the money was deposited in the estate account where do u show this on final acct form and is due diligence money included in the sale or is this considered a receipt I lost money on the sale

Submitted: 3 months ago.Category: Estate Law
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Customer reply replied 3 months ago
example my inventory was $118,132.59 the fmv of the real estate was $113,189 on my inventory for estate. The house sold for 126,000 I lost $13,152.44 in the sale. On my final accounting form would my subtotal be my inventory total of acts and real estate fmv $245,690.99 and line 2 minus loss what would that be do I put the money received from sale on line 4 receipts too
Customer reply replied 3 months ago
The house sold for 126,000 lost $13,152.44 and estate received $112,847.56 into account. The fmv was $113,189. I am trying to do final accounting
Customer reply replied 3 months ago
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Customer reply replied 3 months ago
how do I receive my answer
Customer reply replied 3 months ago
Also I received $1000 due diligence is that a receipt or included in sale of property
Customer reply replied 3 months ago
What service offer
Customer reply replied 3 months ago
I would like an answer in writing only was not aware it was extra
Customer reply replied 3 months ago
my follow up question is what do I put on line 1 for final accounting for subtotal of personal propertyLine 2 minus loss of sale of personal property (what goes thereLine 4 total receipts (ot says to report proceeds from sale of house so do I put $112,847.56 the money received from sale here what about $1000 due diligence deposited in estate account
Answered in 2 hours by:
4/1/2018
Estate Lawyer: Irwin Law, Attorney replied 3 months ago
Irwin Law
Irwin Law, Attorney
Category: Estate Law
Satisfied Customers: 7,570
Experience: 30+ yrs. handling probate estate, wills, trust, inheritance & real estate related matters
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The idea of a final accounting is to show the court and the heirs what you have left for distribution and how you got there. I usually have a starting section of the accounting which I title "Adjustments to Inventory". I show the inventory value, and the gain or loss from the disposition/sale/early distribution of the property etc... so that I have a column of figures the total of which gets deducted from the original inventory. That must be the balance that you have left for distribution. If you show it that way, you should be okay. Most probate courts don't care what format you put the accounting in.

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Customer reply replied 3 months ago
I am aware of everything u just stated however no has a final accounting form that must be completed so I need to know specifically how to fill out this form with the info I provided
Customer reply replied 3 months ago
NC has a form not happy with this answer basically telling me what I already know
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