Estate Inventory and Appraisement (Maryland)

IMPORTANT: THIS IS A PREPARATION GUIDE — CONFIRM THE CURRENT REGISTER OF WILLS FORM

In Maryland, the inventory is filed with the Register of Wills for the county
of administration on the Register's official Inventory form (regular estates),
and a companion Information Report is filed for non-probate/jointly held assets.
Forms are available from the Office of the Register of Wills
(https://registers.maryland.gov/main/forms.html). This template provides the
substantive content to help you prepare; transfer your content to the current
official form before filing. Do not file this document in place of the official form.

INVENTORY AND APPRAISEMENT OF THE ESTATE

1. PERSONAL REPRESENTATIVE INFORMATION

2. DECEDENT INFORMATION

3. DUTY AND FILING DEADLINE

Pursuant to Md. Code, Est. & Trusts § 7-201, within 3 months after the appointment of the personal representative, the personal representative shall prepare and file an inventory of property owned by the decedent at the time of death, listing each item in reasonably descriptive detail and indicating its fair market value as of the date of death and the type and amount of any encumbrance with reference to the item.

The inventory must include real property; tangible personal property (excluding ordinary wearing apparel and family provisions, but including furs and jewelry); corporate stocks; debts owed to the decedent (bonds and notes); bank accounts, savings/loan shares and money; debts owed to the decedent by the personal representative; and any other interest in tangible or intangible property passing by testate or intestate succession (§ 7-201(b)).

4. APPRAISAL METHOD

Under Md. Code, Est. & Trusts § 7-202, the value of each item shall be fairly appraised as of the date of death. The personal representative may appraise corporate stocks listed on a national or regional exchange or over-the-counter securities, and the items in § 7-201(b)(4)–(5) (debts owed, bank accounts, money). The personal representative shall secure an independent appraisal of items in all other categories. The personal representative may apply for appraisal by appraisers designated by the Register under § 2-301(a) or § 2-302, or may employ a qualified and disinterested appraiser (§ 7-202(e)).

• Real and leasehold property may be valued at the full cash value for property-tax assessment purposes as of the most recent date of finality, or at an arm's-length contract sales price if settlement occurs within 1 year after death (§ 7-202(c)).
• A motor vehicle may be valued using the N.A.D.A. official used car guide or a substantially similar guide designated by the Register (§ 7-202(d)).
• The name and address of each appraiser shall be indicated on the inventory next to the item appraised (§ 7-202(e)(3)).

5. SCHEDULE A — REAL PROPERTY

Schedule A Subtotal: $[________________]

6. SCHEDULE B — TANGIBLE PERSONAL PROPERTY

Schedule B Subtotal: $[________________]

7. SCHEDULE C — CASH, BANK & FINANCIAL ACCOUNTS

Schedule C Subtotal: $[________________]

8. SCHEDULE D — SECURITIES & BUSINESS INTERESTS

Schedule D Subtotal: $[________________]

9. SCHEDULE E — OTHER ASSETS

Schedule E Subtotal: $[________________]

10. RECAPITULATION / SUMMARY

11. VERIFICATION

I solemnly affirm under the penalties of perjury that the contents of the foregoing Inventory and Appraisement are true to the best of my knowledge, information, and belief, and that I have set forth all property of the decedent of which I have knowledge, fairly appraised as of the date of death.

Date: [__/__/____]

Personal Representative Signature: ______________________________________

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

Co-Personal Representative Signature (if any): ______________________________________

12. APPRAISER'S CERTIFICATE

I certify that I am a qualified and disinterested appraiser, that I have appraised the items identified below, and that the values stated represent the fair market value of those items as of the decedent's date of death.

Reasonable appraisal fees are allowed as an administration expense (§ 7-202(f)).

13. CERTIFICATE OF FILING / SERVICE

The original of this Inventory and Appraisement is filed with the Register of Wills for [COUNTY] County, Maryland, within 3 months after appointment (§ 7-201). A copy is furnished to interested persons as required.

Signature: ______________________________________
Printed Name: [PERSONAL REPRESENTATIVE / ATTORNEY NAME]
Maryland Attorney No. (if applicable): [________________]

14. ATTACHMENTS CHECKLIST

☐ Official Register of Wills Inventory form (regular estate)
☐ Information Report (non-probate / jointly held / beneficiary-designated assets)
☐ Independent appraisal report(s) for Schedule A, B, D, E items
☐ Real property tax assessment statement or settlement statement (if § 7-202(c) valuation used)
☐ Motor vehicle valuation guide printout (if § 7-202(d) valuation used)
☐ Brokerage / bank statements as of date of death
☐ Supplementary Inventory (§ 7-203), if after-discovered property
☐ Filing fee / probate fee payment

SOURCES AND REFERENCES

• Md. Code, Est. & Trusts § 7-201 — Preparation and Filing of Inventory (3-month deadline)
• Md. Code, Est. & Trusts § 7-202 — Appraisal of Inventoried Items (date-of-death value; appraisers)
• Md. Code, Est. & Trusts § 7-203 — Supplementary Inventories and Appraisals
• Md. Code, Est. & Trusts § 7-204 — Revisions to Value of Inventoried Items
• Md. Code, Est. & Trusts §§ 2-301, 2-302 — Register-designated appraisers
• Maryland Register of Wills forms: https://registers.maryland.gov/main/forms.html