Estate Inventory and Appraisement (Mississippi)

IMPORTANT: CONFIRM WHETHER THE INVENTORY IS REQUIRED OR WAIVED

Under Miss. Code § 91-7-93, no inventory is required if the requirement is waived in
the testator's will, and the chancellor may waive it in an intestate estate on the
administrator's petition. Even after a waiver, the chancellor may later order an
inventory on a beneficiary's or interested party's petition. Where an inventory IS
required, it is filed (verified by oath) with the Chancery Court / Chancery Clerk
within 90 days of the grant of letters unless the court or clerk allows more time.
Mississippi does not mandate a statewide inventory form; confirm local Chancery Court
practice. This template provides the substantive content to help you prepare.

INVENTORY AND APPRAISEMENT OF THE ESTATE

1. EXECUTOR / ADMINISTRATOR INFORMATION

2. DECEDENT INFORMATION

3. DUTY AND FILING DEADLINE

Pursuant to Miss. Code § 91-7-93, the executor or administrator shall, within ninety (90) days of the grant of letters (unless further time is allowed by the court or clerk), file an inventory, verified by oath, of the money and property owned by the decedent at the time of death, listing it with reasonable detail and indicating, as to each listed item, its market value as of the date of death and the type and amount of any encumbrance.

There is no requirement to file an inventory if the requirement is waived in the testator's will, and the court or chancellor may waive the requirement in an intestate estate upon the administrator's petition. Even after a waiver, the chancellor may later order an inventory upon petition of a beneficiary or interested party if the chancellor determines it is necessary or advisable.

4. APPRAISAL METHOD

Under Miss. Code § 91-7-109, the executor or administrator 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.

• Cash, deposit balances, and exchange-listed securities may be valued directly by the fiduciary.
• Real property, closely held business interests, and unique items ordinarily warrant a qualified appraiser.
• Market value is determined as of the decedent's date of death.

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 / OATH

STATE OF MISSISSIPPI
COUNTY OF [COUNTY]

Personally appeared before me, the undersigned authority in and for the said county and state, [FIDUCIARY FULL LEGAL NAME], who, being first duly sworn, on oath states that the foregoing is a true, complete, and accurate inventory of all the money and property owned by the decedent at the time of death of which the affiant has knowledge, fairly valued at market value as of the date of death, to the best of the affiant's knowledge, information, and belief.

Affiant Signature: ______________________________________
Printed Name: [FIDUCIARY FULL LEGAL NAME]

SWORN TO AND SUBSCRIBED before me this [____] day of [MONTH], [YEAR].

______________________________________
Notary / Chancery Clerk
My commission expires: [__/__/____]

12. APPRAISER'S CERTIFICATE

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

13. CERTIFICATE OF FILING / SERVICE

This Inventory and Appraisement, verified by oath, is filed with the Chancery Clerk of [COUNTY] County, Mississippi, within 90 days of the grant of letters (Miss. Code § 91-7-93). Copies are furnished to interested parties as required or as ordered by the chancellor.

Signature: ______________________________________
Printed Name: [FIDUCIARY / ATTORNEY NAME]
Mississippi Bar No. (if applicable): [________________]

14. ATTACHMENTS CHECKLIST

☐ Verified inventory (Chancery Court filing)
☐ Order or will provision waiving inventory (if applicable, in lieu of filing)
☐ Appraisal report(s) for assets appraised under § 91-7-109
☐ Bank / brokerage statements as of date of death
☐ Deed(s), land records, and mineral/royalty documentation
☐ Vehicle and titled-asset records
☐ Petition and order for extension of time (if granted under § 91-7-93)
☐ Supplemental inventory, if after-discovered property

SOURCES AND REFERENCES

• Miss. Code § 91-7-93 — Inventory of money and property owned by decedent (90-day deadline; waiver in will or by chancellor)
• Miss. Code § 91-7-109 — Inventory and appraisement by qualified disinterested persons
• Miss. Code § 91-7-1 — Venue (chancery court of decedent's county of residence)