South Carolina Probate Accounting

One of the core duties of a South Carolina personal representative is keeping and sharing a clear financial record of the estate. A will may call that person an executor, and a no-will estate may use administrator, but the accounting duty is the same. Beneficiaries have a right to understand what was in the estate, what came in and what was paid out, and how the final distributions were calculated. A representative who fails to account properly can face court proceedings, personal liability, and removal.

This guide covers South Carolina probate accounting for estates that run through the county Probate Court: the inventory that starts the record, the difference between supervised and unsupervised administration, what an accounting must contain, and how the estate is formally closed.

Why Accounting Matters

The accounting requirement grows out of the personal representative's fiduciary duty. Under S.C. Code Section 62-3-703, a personal representative is a fiduciary who must settle and distribute the estate under the will and South Carolina's probate code for the benefit of successors and creditors. You are managing someone else's property. Transparency is a duty, not a courtesy.

Accounting also protects you. A well-documented account shows that you paid debts in the correct order, spent estate money on estate purposes, and distributed assets as the will or intestate law directs. Without a clean record, you are exposed to claims that you mismanaged or misused estate funds, and the Probate Court can require you to repay the estate for losses.

The Inventory and Appraisement

Before any closing account is due, the personal representative must file an inventory and appraisement with the Probate Court. Under S.C. Code Sections 62-3-704 and 62-3-706, the inventory lists the probate property the decedent owned at death in reasonable detail, with the date-of-death fair market value of each item and the type and amount of any encumbrance.

Deadline: Within 90 days after appointment, unless the court extends the time. The South Carolina Judicial Branch forms index lists Form 350ES for the inventory and appraisement and Form 352ES for a motion to extend that deadline.

What the inventory includes:

Real property in the estate, with a description and date-of-death fair market value
Financial accounts (bank, credit union, brokerage, and retirement accounts titled in the estate)
Vehicles, jewelry, collectibles, business interests, and other valuable personal property
Property the estate has a claim to, such as money owed to the decedent

Appraisals. For assets that are hard to value, such as real estate, closely held business interests, or collectibles, a professional appraisal supports the date-of-death value on the inventory. That date-of-death value also sets the stepped-up basis used later when the asset is sold, so order appraisals promptly.

Corrections. If new property appears, or a value or description turns out to be wrong, S.C. Code Section 62-3-708 provides for a supplemental, amended, or corrected inventory. The inventory is a disclosure filing, not a distribution promise. Creditor claims, taxes, and family protections can still change what the estate can pay out.

Supervised vs. Unsupervised Administration in South Carolina

South Carolina's probate code (S.C. Code Title 62) follows the Uniform Probate Code, which recognizes two levels of court involvement. The accounting obligation looks different in each.

Unsupervised administration

Most South Carolina estates are administered without continuous court supervision. The personal representative still files the inventory, still tracks every receipt and disbursement, and at closing prepares an accounting and a proposal for distribution for the interested persons. The estate then closes with a verified closing statement or an application for settlement filed with the Probate Court. The court does not pre-approve each routine step, but the representative remains fully accountable and can be called to answer for the account.

Supervised administration

Supervised administration is a court-directed proceeding in which the personal representative acts under the continuing authority of the Probate Court. An interested person can ask for it when closer oversight is warranted, such as a contested estate or a beneficiary who cannot protect their own interest. In a supervised estate, the court reviews and approves the accounting, and the representative generally does not make distributions without a court order. This oversight is more thorough, and it is slower and more involved than an unsupervised closing.

What Goes in a Probate Accounting

Whether the account is reviewed by the Probate Court or shared with beneficiaries at closing, a proper South Carolina estate accounting (Form 361ES) has four main parts.

1. Beginning inventory value

The starting point for the accounting period: either the total from the filed inventory and appraisement, or the ending balance from the prior account.

2. Receipts

Everything the estate took in during the period:

Cash collected from bank, credit union, and brokerage accounts
Income earned by estate assets after death, such as interest, dividends, and rent
Proceeds from the sale of estate property
Insurance proceeds and tax refunds paid to the estate

3. Disbursements

Every payment made from estate funds:

Funeral and last-illness expenses
Allowed creditor claims, paid in the statutory order under S.C. Code Section 62-3-807
Attorney fees and personal representative compensation
Court costs, publication charges, appraisal fees, and other administration expenses
Tax payments, including fiduciary income tax where required
Any partial distributions already made to beneficiaries

4. Distributions and ending balance

The property and amounts distributed to each beneficiary, and the balance or assets remaining on hand. A final account should reconcile: what came in, minus what went out, equals what was distributed and what remains.

When Beneficiaries Can Demand an Accounting

South Carolina builds in transparency from the start. Under S.C. Code Section 62-3-705, within 30 days after appointment the personal representative must give heirs and devisees information about the appointment and where the estate papers are on file. That notice is not an account, but it tells interested persons the estate is open and who is responsible.

Beyond that first notice, distributees and other interested persons have a right to an accounting of how the estate was handled. In an unsupervised estate they receive the closing accounting and proposal for distribution before the estate is settled. If a representative will not account, or the account looks incomplete or inaccurate, an interested person can petition the Probate Court to compel an accounting or to place the estate under supervised administration. A representative who refuses to account, or who files a materially false account, risks removal and a surcharge to make the estate whole.

An accounting the interested persons can rely on should let a reasonable reader trace every dollar in and every dollar out, tied to bank statements, receipts, invoices, sale closing statements, and claim records.

The Final Accounting and Closing the Estate

Before closing, and no later than 14 months after death unless the court extends the time, S.C. Code Section 62-3-807 directs the personal representative to pay allowed claims in the statutory order, after reserving for family protections, disputed claims, unbarred claims, and administration costs. Only then does the estate move toward distribution and closing.

Unsupervised closing

To close an unsupervised estate, the representative typically prepares the final accounting (Form 361ES) and a proposal for distribution (Form 410ES), obtains signed receipts and releases from beneficiaries (Forms 401ES and 403ES), and files a verified statement to close the estate (Form 421ES) or an application for settlement (Form 412ES) with the Probate Court, along with proof that notice to creditors was published. S.C. Code Section 62-3-1001 describes the required closing filings and the proof that copies went to interested persons, including unpaid and unbarred known creditors.

Supervised closing

A supervised estate closes only after the Probate Court reviews and approves the final accounting. Once the court is satisfied that claims, taxes, and distributions are handled correctly, it orders distribution and discharges the representative.

Summary administration

For qualifying small estates, S.C. Code Sections 62-3-1203 and 62-3-1204 allow a shortened summary path. After inventory, fees, creditor notice, and distribution requirements are met, the representative may distribute and file a verified closing statement instead of a full settlement proceeding. See the South Carolina summary administration guide for the value screen and closing steps.

Protecting Yourself as Personal Representative

Open a dedicated estate account. Run every estate transaction through it, and never mix estate money with personal money. Do not deposit estate checks into a personal account or pay personal bills from the estate.

Keep the source documents. Save bank statements, receipts, invoices, sale closing statements, claim records, and tax filings behind every line of the account. A spreadsheet alone is not proof.

Date everything. Note when you received a claim, when you paid a bill, and when you made a distribution. Timing drives the claim-payment order and any later dispute.

Communicate with beneficiaries. An informed beneficiary is far less likely to ask the court to compel an accounting. A short, regular update prevents most disputes.

Do not distribute too early. Wait until authority, creditor notice, claims, taxes, inventory, and the accounting are settled for the estate path. Paying beneficiaries ahead of allowed claims can create personal liability under S.C. Code Section 62-3-807.

Frequently Asked Questions

Does a South Carolina executor have to file an accounting with the Probate Court?

It depends on the path. Every estate files an inventory and appraisement within 90 days of appointment. In a supervised estate the court reviews and approves the accounting before distribution. In an unsupervised estate the representative prepares an accounting and proposal for distribution and files closing papers, but the court does not pre-approve routine steps.

Can beneficiaries waive the accounting?

Interested persons can sign receipts and releases (Forms 401ES and 403ES) that acknowledge what they received and streamline closing. Waivers work best when every beneficiary is an adult, informed, and in agreement. If someone objects, expect the Probate Court to require a full account.

What is the deadline to pay claims and close?

Under S.C. Code Section 62-3-807, the representative pays allowed claims in the statutory order before closing, and no later than 14 months after death unless the court extends the time, while holding reserves for disputed or unbarred claims.

How detailed does the accounting need to be?

Detailed enough that a reasonable person can trace each dollar. Line-item entries tied to statements and receipts are stronger than summary totals. When unsure, provide more detail, not less.

Sources

Title: South Carolina Code of Laws Title 62, Article 3 (Probate of Wills and Administration), including Sections 62-3-703, 62-3-704, 62-3-705, 62-3-706, 62-3-708, 62-3-807, and 62-3-1001. Publisher: South Carolina Legislature. Publication Date: Current official code, accessed 2026-07-01. URL: https://www.scstatehouse.gov/code/t62c003.php
Title: Court Forms (350ES inventory, 361ES accounting, 410ES proposal for distribution, 412ES application for settlement, 421ES verified statement to close). Publisher: South Carolina Judicial Branch. Publication Date: Current court forms page, accessed 2026-07-01. URL: https://www.sccourts.org/court-forms/?courtType=PC
Title: Probate Court. Publisher: South Carolina Judicial Branch. Publication Date: Current court page, accessed 2026-07-01. URL: https://www.sccourts.org/courts/trial-courts/probate-court/

This guide provides general information about South Carolina probate accounting. Every estate is different, and county practice varies. Consult a licensed South Carolina probate attorney about your situation. It is not legal advice.