Estate Inventory and Appraisement (Minnesota)

IMPORTANT: CONFIRM LOCAL COURT PRACTICE

Confirm the court's filing instructions and any local form before submission.
Minn. Stat. § 524.3-706 requires the personal representative to prepare an
inventory and file or mail it, and to furnish copies to the people it names.

INVENTORY AND APPRAISEMENT OF THE ESTATE

1. PERSONAL REPRESENTATIVE INFORMATION

2. DECEDENT INFORMATION

3. DUTY AND FILING DEADLINE

Pursuant to Minn. Stat. § 524.3-706, within 6 months after appointment, or 9 months after the death of the decedent, whichever is later, a personal representative who is not a special administrator or a successor to a representative who has previously discharged this duty shall prepare and file or mail an inventory of property owned by the decedent at the time of death, listing it with reasonable detail and indicating, as to each listed item, its fair market value as of the date of death and the type and amount of any encumbrance.

The personal representative shall mail or deliver a copy to the surviving spouse (if any), to all residuary distributees, and to interested persons or creditors who request a copy.

4. APPRAISAL METHOD

Under Minn. Stat. § 524.3-707, the personal representative may employ a qualified and disinterested appraiser to assist in ascertaining the fair market value, as of the date of death, of any asset the value of which may be subject to reasonable doubt; different persons may be employed to appraise different kinds of assets. The names and addresses of any appraiser shall be indicated on the inventory with the item or items appraised.

Record the valuation source for each item in the supporting records. Section 524.3-707 permits a qualified and disinterested appraiser for an asset whose value may be subject to reasonable doubt and requires the appraiser's name and address with each appraised item.

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 declare under penalty of perjury that everything I have stated in this document is true and correct. I have prepared this inventory to list the decedent's property at death, its date-of-death value, and each item's encumbrances as required by Minn. Stat. § 524.3-706.

Personal Representative Signature: ______________________________________

Date: [__/__/____] County and state where signed: [____________________________________]

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

Supplementary inventory, if applicable: Describe each newly discovered item or corrected value or description, the appraiser or other data relied upon, the date-of-death value, and the persons interested in the new information: [ATTACHED SUPPLEMENT / NONE]. Furnish them the supplement or information and file it with the court if the original inventory was filed (Minn. Stat. § 524.3-708).

12. APPRAISER'S VALUATION RECORD (OPTIONAL)

I appraised the items identified below and provided the values shown as of the decedent's date of death. This supporting record is optional and does not replace the inventory's item-by-item appraiser identification.

13. CERTIFICATE OF FILING / SERVICE

Pursuant to Minn. Stat. § 524.3-706, the personal representative has (check all that apply):

☐ Filed this inventory with the District Court, County of [COUNTY]; or
☐ Mailed this inventory rather than filing it, under Minn. Stat. § 524.3-706.

In either case, I ☐ mailed ☐ delivered copies to the surviving spouse, all residuary distributees, and interested persons or creditors who requested one, as listed below.

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

14. ATTACHMENTS CHECKLIST

☐ Appraisal report(s) for assets appraised under § 524.3-707
☐ Bank / brokerage statements as of date of death
☐ Real estate deed(s) and county property records
☐ Vehicle and titled-asset records
☐ Supplementary Inventory (§ 524.3-708), if property was omitted or a value or description was erroneous or misleading
☐ Proof of mailing/delivery to spouse, residuary distributees, and requesting parties
☐ Estate-tax workpapers, if applicable

SOURCES AND REFERENCES

• Minn. Stat. § 524.3-706 — Inventory and appraisement: https://www.revisor.mn.gov/statutes/cite/524.3-706
• Minn. Stat. § 524.3-707 — Employment of appraisers: https://www.revisor.mn.gov/statutes/cite/524.3-707
• Minn. Stat. § 524.3-708 — Supplementary inventory: https://www.revisor.mn.gov/statutes/cite/524.3-708
• Minn. Stat. § 524.1-310 — Probate document verification: https://www.revisor.mn.gov/statutes/cite/524.1-310
• Minn. Stat. § 358.116 — Court-document declarations: https://www.revisor.mn.gov/statutes/cite/358.116