What is included in probate inventory?

A probate inventory is the complete list of everything a decedent owned as of the date of death, with each asset described and assigned a supportable fair market value. Most courts require the executor or administrator to file it early in the case so the estate's starting value is on the record.

Exact requirements, deadlines, and forms differ from state to state, but nearly every probate inventory captures the same core of the estate:

• Bank and cash accounts: checking, savings, money market accounts, and certificates of deposit, shown with the date-of-death balance.
• Investment and retirement holdings: brokerage accounts, stocks, bonds, mutual funds, and any retirement accounts payable to the estate rather than a named beneficiary.
• Real estate: the home, land, rental, or commercial property the decedent owned, valued as of the date of death.
• Vehicles and other titled property: cars, trucks, motorcycles, boats, and trailers.
• Personal property and household contents: jewelry, fine art, antiques, collectibles, firearms, and furniture.
• Business interests: ownership in a sole proprietorship, partnership, LLC, or closely held corporation.
• Money owed to the decedent: loans, receivables, royalties, and similar intangible assets.

The lines that most often create problems are tangible personal property. Higher-value items (fine art, jewelry, antiques, firearms, and better furniture) usually have to be described individually and given a defensible value rather than lumped together as "household goods." Courts and executors need an independent fair market value they can stand behind, which is where a professional appraisal earns its place. Probate Appraisal Group prepares USPAP-compliant valuations of estate personal property for exactly this part of the inventory, covering fine art, jewelry, antiques, collectibles, and household contents nationwide.

Because the rules vary by jurisdiction, always check your own state's specific requirements. Our answer on what goes on a Texas probate inventory filing shows how one state formalizes the process. To narrow down which of your belongings actually require a formal valuation, see what possessions need to be valued for probate, and for the methodology on everyday contents, how to value household goods for probate.