Estate Inventory and Appraisement (Illinois)

INVENTORY AND APPRAISEMENT OF THE ESTATE

IN THE CIRCUIT COURT OF [COUNTY] COUNTY, ILLINOIS — [JUDICIAL CIRCUIT] / PROBATE DIVISION

1. REPRESENTATIVE INFORMATION

2. DECEDENT INFORMATION

3. DUTY AND FILING DEADLINE

Supervised administration (755 ILCS 5/14-1): Within 60 days after the issuance of letters, the representative shall file in the court a verified inventory of the real and personal estate which has come to the representative's knowledge and of any cause of action on which the representative has a right to sue. A supplemental inventory must be filed within 60 days after any additional real or personal estate comes to the representative's knowledge. The inventory must describe the real estate and the improvements and encumbrances thereon, state the amount of money on hand, and list all personal estate.

Independent administration (755 ILCS 5/28-6): The independent representative need not file the inventory with the court. The independent representative shall mail or deliver a copy of the inventory to each interested person not less than 30 days before filing the verified report required by § 28-11, and shall give a copy to any interested person upon written request. An independent administrator must also provide a copy of the inventory to the surety on the bond by certified mail within 90 days after issuance of letters (§ 28-6(b)).

4. OPTIONAL VALUATION AND APPRAISAL METHOD

The valuation columns below are optional working estimates as of the date of death; § 14-1 requires an inventory of assets and specified descriptions, but does not itself require a fair-market-value entry for every item. Record the chosen valuation date and method if values are included. Under § 14-2, if valuing goods and chattels is necessary for proper administration, the representative may appraise them or employ a competent, disinterested appraiser. The appraiser's name, address, and item(s) appraised are noted below where applicable.

☐ No appraiser was engaged.
☐ Appraiser(s) were engaged for the asset(s) noted in the schedules below (see Appraiser's Certificate, Section 11).

SCHEDULE A — REAL PROPERTY

Schedule A Subtotal: $[________________]

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: $[________________]

RECAPITULATION / SUMMARY

5. VERIFICATION

I, [REPRESENTATIVE FULL LEGAL NAME], the representative of the Estate of [DECEDENT FULL LEGAL NAME], certify under penalty of perjury as provided by law pursuant to Section 1-109 of the Illinois Code of Civil Procedure (735 ILCS 5/1-109) that I have read the foregoing Inventory and Appraisement, that it is a true and complete verified inventory of the real and personal estate and causes of action that have come to my knowledge, and that any optional values stated are my good-faith estimates on the stated valuation basis.

Executed on [__/__/____] at [CITY], Illinois.

Representative Signature: ______________________________________

Printed Name: [REPRESENTATIVE FULL LEGAL NAME]

6. APPRAISER'S CERTIFICATE (if appraiser engaged)

I, [APPRAISER FULL NAME], certify that I am a competent and disinterested appraiser, that I appraised the asset(s) identified below at their fair market value as of the stated valuation date, and that the values stated are true and correct to the best of my knowledge and belief.

Appraiser Signature: ______________________________________
Printed Name / Address: [________________________________]
Date: [__/__/____]

7. CERTIFICATE OF SERVICE / FILING

I certify that on [__/__/____] I disposed of the foregoing Inventory and Appraisement as follows:

☐ Supervised: Filed the verified inventory with the Clerk of the Circuit Court of [COUNTY] County within 60 days after issuance of letters (755 ILCS 5/14-1).
☐ Independent: Mailed or delivered a copy to each interested person (755 ILCS 5/28-6) and/or furnished a copy on written request.
☐ Independent administrator: Mailed a copy to the surety on the bond by certified mail within 90 days after issuance of letters (755 ILCS 5/28-6(b)).

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

ATTACHMENTS CHECKLIST

☐ Letters of Office (Letters Testamentary / Letters of Administration)
☐ Real property deeds / PIN records / county assessment (Schedule A)
☐ Vehicle titles and valuation sources (Schedule B)
☐ Bank / financial account statements as of date of death (Schedule C)
☐ Brokerage statements / stock certificates / business records (Schedule D)
☐ Documentation of causes of action and other assets (Schedule E)
☐ Appraisal report(s) and Appraiser's Certificate (if applicable)
☐ Proof of mailing to interested persons (independent administration)
☐ Proof of certified mailing to surety within 90 days (independent administrator)

SOURCES AND REFERENCES

• 755 ILCS 5/14-1 — Inventory: verified inventory filed within 60 days of letters; supplemental inventory within 60 days; contents (real estate, improvements, encumbrances, money on hand, personal estate, causes of action).
• 755 ILCS 5/14-2 — Optional appraisal of goods and chattels where necessary for proper administration.
• 755 ILCS 5/28-1 — Purpose and scope of independent administration (administration without court order or filing except as required or requested).
• 755 ILCS 5/28-6 — Service of inventory in independent administration (copy to interested persons; need not file with court; copy to surety within 90 days).
• 735 ILCS 5/1-109 — Verification by certification under penalty of perjury.
• 755 ILCS 5/5-1 — Probate venue in the county of known Illinois residence, with statutory alternatives where there is none.