Estate Inventory and Appraisement (Maryland)

INVENTORY AND APPRAISEMENT OF THE ESTATE

Personal representative: [NAME, ADDRESS, TELEPHONE, EMAIL]

Date of appointment: [__/__/____] Inventory due date: [__/__/____]

Under Md. Code, Est. & Trusts § 7-201(a), the inventory is due within three months after appointment and reports property owned by the Decedent at death, with a reasonably detailed description, date-of-death fair market value, and the type and amount of each encumbrance. For a successor personal representative, § 7-205 permits a new inventory or written consent to answer for the predecessor's inventory within three months after successor appointment.

Valuation and appraisers: Listed or over-the-counter corporate securities, debts owed to the Decedent, and bank accounts or money may be appraised by the personal representative under § 7-202(a)(2). Other categories require independent appraisal, subject to § 7-202's permitted methods. The Register's standing or general appraisers under §§ 2-301 and 2-302, or a qualified disinterested special appraiser under § 7-202(e), may supply the applicable independent appraisal. Identify each appraiser by name and address beside the item appraised. For real or leasehold property, § 7-202(c) permits the full cash value for property-tax assessment as of the most recent date of finality or a contract price shown on a settlement statement for an arm's-length sale that settles within one year after death. Those alternatives do not apply to property assessed on a use-value basis. A motor vehicle may use the average value in the National Automobile Dealers' Association official used car guide or a substantially similar Register-designated guide under § 7-202(d).

Supporting Schedules

For each item, state its appraised gross market value as of death. In the description, state any encumbrance's type and amount. For real and leasehold property, include a description sufficient to identify it and its title reference. Attach additional copies of a schedule as needed.

Schedule A — Real Property

Schedule B — Leasehold Property

Schedule C — Tangible Personal Property

Exclude wearing apparel other than furs and jewelry, and provisions for family consumption, under § 7-201(b)(2).

Schedule D — Corporate Stocks

Schedule E — Bonds, Notes, Mortgages, and Debts Due to Decedent

Include any debt owed to the Decedent by the personal representative under § 7-201(b)(6).

Schedule F — Bank Accounts, Savings and Loan Accounts, Cash

Schedule G — All Other Interests

Include other tangible or intangible property owned by the Decedent that passes by testate or intestate succession under § 7-201(b)(7).

Verification of Personal Representative

I solemnly affirm under the penalties of perjury that the contents of this inventory are true to the best of my knowledge, information, and belief and that any property I had authority to appraise as personal representative has been valued completely and correctly in accordance with law.

Attorney address and telephone, if applicable: [________________________________]

Verification of Independent Appraiser

Complete for each independent appraiser, using a separate supporting schedule or verification if needed. I solemnly affirm under the penalties of perjury that I appraised the property identified as [ITEM NUMBERS] on [__/__/____] impartially and to the best of my skill and judgment.

Later-discovered or misstated property: Under § 7-203, the personal representative files a supplemental inventory or appraisal with the court if omitted property becomes known or an original value is learned to be erroneous or misleading; include the data relied on. Section 7-204 separately permits a court petition to revise an inventory value before the estate closes.