Estate Inventory Checklist: What to List and How to Value It

An estate inventory is a written list of everything a person owned and owed when they died, with a value for each item as of the date of death. If you are the executor, you'll use it to satisfy the probate court, pay debts, file tax returns and show heirs what there is. Many states require a formal inventory within a set time, such as four months after letters are issued in California and 90 days in Texas. The checklist below shows what to list, how to value it and where to look for things you don't know about yet.

Why does an estate inventory matter?

The inventory does four jobs at once:

• It satisfies the court. Many probate courts require a sworn inventory of the estate's property.
• It sets values for taxes. The IRS says the basis of inherited property is generally its fair market value on the date of death. That value decides how much gain heirs report if they later sell.
• It shows what can pay the bills. Debts are paid from the estate, so you need to know whether the assets cover them.
• It protects you. A dated, documented list shows beneficiaries and the court that you handled the estate carefully.

If you're new to the role, our guides to what an executor does and what probate is give the wider picture.

What goes on the list? The estate inventory checklist

Include everything below, even items you think have little value. Next to each item, note the title (sole name, joint, beneficiary named), the value on the date of death and where the proof is.

Real estate

• Houses, condos, land, timeshares and mineral rights
• Deeds, mortgage statements and the latest property tax bill
• Any land in another state. A second state may require its own probate, called ancillary probate.

Bank and cash accounts

• Checking, savings, money market accounts and certificates of deposit
• Safe deposit boxes (list the bank and box number)
• Cash at home and prepaid cards

Investments and retirement

• Brokerage accounts, individual stocks, bonds and mutual funds
• 401(k), 403(b), IRA, Roth IRA and pension plans, including who is named as beneficiary on each
• Annuities

Insurance and benefits owed

• Life insurance policies and named beneficiaries
• Final paycheck, unused vacation pay and employer benefits
• Tax refunds. To claim a refund owed to a deceased taxpayer, the IRS says to file Form 1310, with exceptions for a surviving spouse filing jointly or a court-appointed representative who attaches the court certificate

Vehicles and personal property

• Cars, motorcycles, boats, RVs and trailers, with titles
• Jewelry, art, antiques, collectibles, firearms and tools
• Furniture and household goods, which are often listed as a group

Business interests and money owed to the person

• Ownership in a business, partnership or farm
• Loans the person made, royalties, and rental income due

Digital assets

• Email, cloud storage, photos and social media accounts
• Online payment accounts, loyalty and airline points
• Cryptocurrency, including which wallets or exchanges and where the recovery information is kept
• Websites, domain names and online shops

Debts and obligations

• Mortgage, home equity lines, car loans and personal loans
• Credit cards, medical bills and taxes owed
• Recurring charges and subscriptions
• Funeral bills the estate owes or that a family member has paid

How do you value each asset?

Use the value on the date of death, not today's value and not what the person paid.

The estate's representative can sometimes choose an alternate valuation date, generally six months after death, but that option is tied to the federal estate tax. The IRS covers the details in Publication 551. A tax professional can tell you if it applies.

In some states the court picks who appraises. In California, for example, the representative delivers the inventory to a probate referee, who appraises all property other than what the representative appraises.

Which assets go on the court's inventory?

Court inventories usually cover probate assets only. The California statute, for instance, calls for an inventory of "property to be administered in the decedent's estate." Non-probate assets pass outside the court: accounts with a living beneficiary, jointly owned property with survivorship rights, payable-on-death accounts and living trust assets. The Legal Information Institute lists those nonprobate transfers.

Keep a complete list anyway. Non-probate assets count toward the federal estate tax, and a complete list shows whether the rest of the estate can cover debts. The IRS says the estate tax only applies above the exclusion amount, which is $15,000,000 for deaths in 2026 and $13,990,000 for 2025. Most estates fall well below that. Our guide to small estate probate explains when a short process applies.

What are the court deadlines?

Deadlines depend on the state, so check with the probate clerk as soon as you have your letters. Two examples:

• California: the inventory and appraisal is due within four months after letters are first issued to a general personal representative. The court may allow reasonable extensions.
• Texas: the inventory and appraisement is due before the 91st day after the representative qualifies. It must be a verified list of the estate's real property in Texas and personal property wherever located, with fair market values as of the date of death.

Missing a deadline can cause delays and sometimes penalties, so ask for an extension before the date passes if you need one.

Where do you look for assets you don't know about?

Finding everything is usually the hardest part. Try these sources:

• Mail and email. Watch for statements, 1099 forms and tax notices for several months. Forward the mail (see our guide to forwarding mail after a death).
• Recent tax returns. Interest, dividend and property tax entries point to accounts and property. The IRS says you may need to file past returns if the person didn't.
• Unclaimed property. MissingMoney.com is a free search run by the National Association of Unclaimed Property Administrators. It lets you search participating states' databases.
• Employer and pension records. Ask the former employer's HR department about final pay, benefits and plans.
• Safe deposit boxes, file cabinets and home offices. Look for deeds, titles, insurance policies and account statements.
• Phone, computer and password manager. These show online accounts, subscriptions and crypto exchanges.
• Credit report. A report can reveal open accounts and debts you haven't seen.

What about digital assets?

Email, photos, online accounts and cryptocurrency belong on the inventory. Access is the challenge. A uniform law called the Revised Uniform Fiduciary Access to Digital Assets Act, adopted in many states, sets how a representative can ask providers for access. What you get depends on the account terms and the choices the person made in their settings. If crypto is held in a wallet that only the owner could unlock, the funds may be unreachable without recovery information.

See our guides on digital estate planning and cryptocurrency after death for more.

How do you handle the debts?

List every known debt with the creditor, balance and date. According to the FTC, a person's debts are owed by and paid from the estate, and relatives usually aren't personally responsible unless they co-signed. A court-appointed representative who doesn't follow probate procedures can be. The IRS adds that the representative of an insolvent estate is personally responsible for tax owed if they had notice of it or failed to use due care.

So pay debts and taxes before you distribute anything to heirs. Our guide to debt when someone dies explains how creditors are handled.

Should you make an inventory of your own estate?

Yes, and it's one of the kindest things you can leave. A short list of accounts, where they are and who is named as beneficiary saves your executor weeks of searching. Do this:

1. Walk through the house and note the high-value items. Take photos.
2. List each account with the company, the last four digits and the named beneficiary.
3. Record where the will, deeds, titles and the password manager are kept.
4. Write down how to reach your attorney, accountant and insurance agent.
5. Review it yearly and after a marriage, divorce, move or major purchase. Match it against your beneficiary forms.
6. Tell your executor where the list is. A list nobody can find doesn't help.

A written inventory doesn't replace a will. It's the "what and where," and your will covers the "who." Keep the two together with your digital legacy notes.

What to do next

1. Get your letters from the court, then ask the clerk about the inventory deadline.
2. Open an estate account and get an Employer Identification Number (EIN) for the estate, as IRS Publication 559 advises.
3. Work through the checklist above, noting values and title for each item.
4. Order appraisals where needed, then file the inventory and keep your records.