How to File an Estate Probate Inventory

An important step in the probate process is filing an inventory of all the assets that are part of the estate. This job is the responsibility of the executor, and it’s often no small feat. It involves determining the value and ownership of real estate, securities, bank accounts and other assets, and then filing a formal inventory with the probate court. Every state has different rules, forms and deadlines for this process. Therefore, you’ll want to check with the courts in your area before starting.

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What’s Included in an Estate Inventory?

An estate inventory is used to determine the overall monetary value of the estate. When compared to any claims creditors have against the estate for taxes, mortgages or other debts, this will determine whether the estate is solvent. The inventory will also be used to determine whether the estate is subject to estate taxes.

Just about any asset someone held at the time of their death should be included in their estate’s inventory. This is where the executor’s work can get a little tedious, but it’s imperative that this is done accurately. Here’s a breakdown of the most common items in an estate inventory for probate:

Real estate: homes, condos, apartment and investment properties
Financial accounts: checking accounts, savings accounts and safe deposit boxes
Investments: brokerage accounts or certificates for stocks, bonds, CDs and other investments
Retirement accounts: 401(k)s, HSAs, traditional IRAs or Roth IRAs
Wages: unpaid wages, unpaid commissions or unexercised stock option grants
Insurance policies: life insurance or annuities
Vehicles: cars, trucks, motorcycles or other vehicles
Business interests: any business holdings in their name
Debts/judgments: any personal loans to people or money received through a court judgment

Preparing an Estate Inventory for Probate

Before the inventory can be filed, it must be prepared. This begins with checking state laws to make sure the inventory is prepared and, later, filed in compliance with local rules.

The central task in preparing the inventory consists identifying all assets owned by the estate. Again, these may include cash, bank accounts, retirement accounts, brokerage accounts, securities, life insurance policies, real estate, collectibles and personal belongings such as vehicles.

Preparing a full inventory may call for some investigation. At minimum, it will involve examining deeds, titles, account statements and tax returns in the deceased person’s desk, filing cabinets and safe deposit boxes. It may also be necessary to search the person’s home and even interview relatives and friends to make sure every financial and physical asset is accounted for.

While completing and filing the inventory for a small and simple estate can be done in a matter of a few months, more extensive and complex estates may take years for the executor to fully evaluate. This process can be significantly delayed and complicated if the estate includes real property in several states, each of which is likely to have different rules for handling the property in probate.

It is not enough to provide a bare listing of items such as “house” or “car.” For instance, an inventory entry for real estate will include the address, legal description and a copy of the deed as well as an estimate of the fair market value, perhaps prepared by a professional appraiser. Bank account listings will include the name of the bank, account number and cash balance. Other assets will be identified with similar detail.

After all the assets are located and the necessary information has been gathered, the executor can fill out the inventory. Many states have specific inventory forms that must be used for probate inventories. The probate court where the estate is being settled will provide online or hard copies of the appropriate forms as well as instructions for filling them out.

How to File an Estate Inventory With the Probate Court

Filing an estate inventory marks one of the final steps in documenting a decedent’s assets for probate. The process typically involves confirming local court requirements, submitting the completed forms and maintaining records throughout the proceedings.

1. Confirm State-Specific Requirements

When the probate inventory is completed, the executor files it with the probate court. As is the case with the entire probate process, the precise details of how to file will vary according to the laws and policies of the jurisdiction where the court is located. Some probate courts provide standardized forms online, while others require in-person submission. Before filing, the executor should contact the probate court clerk or visit the court’s website to confirm:

Which form to use
Whether any supporting documentation (like deeds or account statements) must be included
How the filing fee should be paid
The deadline for submission

In most states, the inventory must be filed within three to six months of the decedent’s death, though some jurisdictions require it sooner. The probate judge may grant an extension if the executor is still in the process of identifying or valuing assets.

2. File the Inventory With the Court

After all required information is gathered and verified, the executor submits the completed inventory form and accompanying documents to the probate court.

Filing fees: Most probate courts charge a filing fee, which can typically be paid from the estate’s assets.
Submission method: Depending on the jurisdiction, the executor may file in person, by mail or through an online court filing system.
Acknowledgment: Once filed, the court may issue a receipt or acknowledgment confirming the inventory’s submission and entry into the probate record.

If any errors or omissions are discovered later, the executor can usually file an amended inventory with the court.

3. Stay in Compliance and Maintain Records

Some states require periodic updates or supplemental filings if new assets are discovered or asset values change significantly during the probate process. Executors should:

Keep detailed records of all filings and correspondence with the court.
Track any new information about estate assets and report it promptly.
Retain copies of appraisals and valuation statements for tax and audit purposes.

Even in states without strict deadlines, the executor’s fiduciary duty to beneficiaries means the inventory must be filed in a timely and accurate manner.

Handling the inventory is just one of the executor’s responsibilities. In addition to this, the executor must file the will with the probate court, pay off any debts or taxes the estate owes and oversee the distribution of any remaining assets to the beneficiaries.

Bottom Line

Preparing and filing the probate inventory is one of the most complicated and potentially time-consuming parts of the probate process. It involves collecting details on every asset owned by the decedent, recording the information in an approved format and submitting it to the probate court along with, usually, the required fee. Each state has somewhat different rules for doing this, including different deadlines. Since the inventory will be used to determine the financial value of the estate and how and whether it will be subject to estate tax, it’s vital that the executor perform it competently.

Estate Planning Tips

The assistance of a professional financial advisor can be invaluable for the executor of an estate. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
If you have a sizable estate, estate taxes on either the state or federal level could be hefty. However, you can easily plan ahead for taxes to maximize your loved ones’ inheritances. For example, you can gift portions of your estate in advance to heirs, or even set up a trust.