Estate Inventory and Appraisement (Indiana)

INVENTORY AND APPRAISEMENT OF THE ESTATE

IN THE [CIRCUIT / SUPERIOR] COURT OF [COUNTY] COUNTY, INDIANA

1. PERSONAL REPRESENTATIVE INFORMATION

2. DECEDENT INFORMATION

3. DUTY AND FILING DEADLINE

Supervised administration (Ind. Code § 29-1-12-1): Within two (2) months after appointment of the personal representative (unless a longer time is granted by the court), the personal representative shall prepare a verified inventory of the decedent's probate estate, consisting of at least one written instrument, indicating the fair market value of each item of property and a statement of all known liens and other charges on any item. A copy of the inventory (or any supplement or amendment) shall be furnished to interested persons who request it, unless the original has been filed with the court.

Unsupervised administration (Ind. Code § 29-1-7.5-3.2): Not more than two (2) months after appointment, the personal representative shall prepare a verified inventory; a copy shall be furnished to a distributee who requests it. The personal representative may certify to the court that the inventory has been prepared and is available; the court may not require the personal representative to file the inventory.

4. APPRAISAL METHOD

The personal representative has determined the fair market value of each item as of the date of the decedent's death. Pursuant to Ind. Code § 29-1-12-1(c) (and § 29-1-7.5-3.2(c) in unsupervised administration), the personal representative may employ a disinterested appraiser to ascertain the fair market value of any asset whose value may be subject to reasonable doubt; different persons may be employed to appraise different kinds of assets, and the name and address of any appraiser must be indicated on the inventory with the item(s) appraised.

☐ No appraiser was required.
☐ Appraiser(s) were employed 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, [PERSONAL REPRESENTATIVE FULL LEGAL NAME], the personal representative of the Estate of [DECEDENT FULL LEGAL NAME], affirm under the penalties for perjury that I have prepared and read the foregoing verified Inventory and Appraisement; that it states the fair market value of each item of the decedent's probate estate as of the date of death and all known liens and other charges on any item; and that the foregoing is true and correct to the best of my knowledge, information, and belief.

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

Personal Representative Signature: ______________________________________

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

6. APPRAISER'S CERTIFICATE (if appraiser employed under § 29-1-12-1(c))

I, [APPRAISER FULL NAME], certify that I am a disinterested appraiser, that I appraised the asset(s) identified below at their fair market value as of the date of the decedent's death, 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 [__/__/____], within two (2) months after my appointment (or within any extension granted by the court), I disposed of the foregoing Inventory and Appraisement as follows:

☐ Supervised: Filed the verified inventory with the [CIRCUIT / SUPERIOR] Court of [COUNTY] County (Ind. Code § 29-1-12-1).
☐ Furnished a copy to interested persons / distributees who requested it (Ind. Code § 29-1-12-1(d); § 29-1-7.5-3.2(d)).
☐ Unsupervised: Certified to the court that the inventory has been prepared and is available (Ind. Code § 29-1-7.5-3.2(e)).

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

ATTACHMENTS CHECKLIST

☐ Letters Testamentary / Letters of Administration (order of appointment)
☐ Real property deeds / plat or survey / key (parcel) numbers; homestead designation (Schedule A)
☐ Vehicle titles and valuation sources (Schedule B)
☐ Bank / financial account statements as of date of death; insurance policies payable to estate (Schedule C)
☐ Stock certificates / brokerage statements / notes & mortgages with recording data; partnership records (Schedule D)
☐ Documentation for causes of action and other personal property (Schedule E)
☐ Appraisal report(s) and Appraiser's Certificate (if applicable)
☐ Proof of furnishing to interested persons / distributees on request

SOURCES AND REFERENCES

• Ind. Code § 29-1-12-1 — Inventory: 2-month deadline; verified; fair market value; liens/charges; classification of properties; appraisers; copies to interested persons.
• Ind. Code § 29-1-7.5-3.2 — Inventories in unsupervised administration: 2-month deadline; furnished to distributee on request; certification to court; court may not require filing.