Estate Inventory and Appraisement (Arkansas)

INVENTORY AND APPRAISEMENT OF THE ESTATE

IN THE CIRCUIT COURT OF [COUNTY] COUNTY, ARKANSAS — PROBATE DIVISION

1. CAPTION AND CASE INFORMATION

2. PERSONAL REPRESENTATIVE INFORMATION

3. DECEDENT INFORMATION

4. STATEMENT OF DUTY AND FILING DEADLINE

Pursuant to Ark. Code § 28-49-110(a)(1), within two (2) months after qualification (or as the court may direct), the personal representative shall file a true and complete inventory of all property owned by the decedent at the time of death (except interests terminated by death), describing each item in detail and setting out the personal representative's appraisement of the fair market value of the property as of the date of death.

☐ This inventory is filed within two months after qualification.
☐ The court has directed an alternative filing date of [__/__/____].
☐ Written waivers of inventory have been filed by all competent distributees and the legally appointed, qualified, acting guardians of the estates of all incompetent distributees (Ark. Code § 28-49-110(c)(1)); this inventory is nonetheless prepared. The court may still require filing. If a person asserting a claim or interest makes a written demand, an inventory must be filed unless the court is shown that the claim is invalid or paid, or that the person has no interest in the estate (§ 28-49-110(c)(2)).

5. APPRAISAL METHOD

The personal representative sets out the personal representative's appraisement of fair market value as of the date of death (Ark. Code § 28-49-110(a)(1)). A written appraisal may support a value where an asset is difficult to value; identify and attach any appraisal used.

SCHEDULE A — REAL PROPERTY

Schedule A Subtotal (gross FMV): $[________________]

SCHEDULE B — TANGIBLE PERSONAL PROPERTY

Schedule B Subtotal: $[________________]

SCHEDULE C — CASH, BANK & FINANCIAL ACCOUNTS

Schedule C Subtotal: $[________________]

SCHEDULE D — SECURITIES & BUSINESS INTERESTS

Schedule D Subtotal: $[________________]

SCHEDULE E — OTHER ASSETS

Schedule E Subtotal: $[________________]

SCHEDULE F — ENCUMBRANCES AND LIENS

List each encumbrance once, including any shown on Schedule A, and identify the asset it affects. This schedule supports the net-value calculation; it does not remove the asset from the inventory.

Schedule F Total Encumbrances: $[________________]

6. RECAPITULATION / SUMMARY

7. AFFIDAVIT / VERIFICATION OF PERSONAL REPRESENTATIVE

I, [PERSONAL REPRESENTATIVE FULL LEGAL NAME], the duly appointed and qualified personal representative of the Estate of [DECEDENT FULL LEGAL NAME], being first duly sworn, state pursuant to Ark. Code § 28-49-110(a)(2) that the foregoing inventory is complete and accurate to the best of my knowledge and belief, that it sets out my appraisement of the fair market value of each item as of the decedent's date of death, and that I was not indebted or obligated to the decedent at the time of death except as stated in this inventory.

Signature: ______________________________________

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

Date: [__/__/____]

STATE OF ARKANSAS, [COUNTY] COUNTY

Subscribed and sworn to before me this [____] day of [MONTH], [YEAR].

Notary Public: ______________________________________ My commission expires: [__/__/____]

Notarial seal: [____________________________]

8. CERTIFICATE OF SERVICE / FILING

The original of this inventory is filed with the Circuit Court of [COUNTY] County, Arkansas (Probate Division). If copies were served, record service below.

Signature: ______________________________________
Printed Name: [PERSONAL REPRESENTATIVE / ATTORNEY NAME]
Arkansas Bar No.: [________________] (if attorney)
Address / Telephone / Email: [________________________________]

ATTACHMENTS CHECKLIST

☐ Written waivers of inventory by competent distributees/guardians, if applicable (Ark. Code § 28-49-110(c))
☐ Independent appraisals (real estate, business interests, collectibles)
☐ Date-of-death account statements (Schedule C)
☐ Brokerage / securities statements (Schedule D)
☐ Vehicle title(s) and valuation printouts (Schedule B)
☐ Correction of any errors or omissions by supplemental inventory, the next accounting, or as the court directs (Ark. Code § 28-49-110(b))
☐ Notarial jurat for the personal representative's affidavit

SOURCES AND REFERENCES

• Ark. Code § 28-49-110 — Inventories (two months after qualification; self-appraisement at date-of-death FMV; affidavit; waiver; corrections by supplemental inventory; not conclusive evidence).
• Ark. Code § 28-49-101 — Personal representative's possession of estate property; the inventory includes real estate owned at death even when the representative does not possess it.
• Arkansas Judiciary Form 17 — Inventory of Decedent's Estate, including its reporter's notes on timing and excluded survivorship/beneficiary property.
• Arkansas Administrative Order No. 12 — Official Probate Forms, § 2 caption and affidavit formats.