Estate Inventory and Appraisement (New Jersey)

INVENTORY AND APPRAISEMENT OF THE ESTATE

SURROGATE'S COURT OF [____________________] COUNTY, NEW JERSEY
(SUPERIOR COURT OF NEW JERSEY, CHANCERY DIVISION — PROBATE PART)

1. CAPTION AND CASE INFORMATION

2. PERSONAL REPRESENTATIVE INFORMATION

3. DECEDENT INFORMATION

4. STATEMENT OF DUTY AND FILING DEADLINE

Pursuant to N.J.S.A. 3B:16-2, a personal representative may make and file a true and perfect inventory of the real and personal property of the decedent that has come to the representative's hands, possession, or knowledge (or into the hands of any other person for the representative), and shall do so if required by the court or if the family exemption under N.J.S.A. 3B:16-5 is to be set off. The court shall not require an inventory and appraisal to be filed until three (3) months after the grant of letters, except that if an exemption is to be set off, the inventory and appraisal shall be made within the three (3) months. Under N.J.S.A. 3B:16-1, an inventory must be full and specific in its details.

☐ This inventory is filed on demand of / as required by the court.
☐ This inventory is made to set off the family exemption under N.J.S.A. 3B:16-5 (made within 3 months of the grant of letters).
☐ This inventory is made voluntarily.

5. APPRAISAL METHOD AND APPOINTMENT OF APPRAISERS (N.J.S.A. 3B:16-3)

If an inventory and appraisal is to be filed, the appraisers are chosen by the personal representative subject to the approval of the Superior Court or surrogate. Where the family exemption is to be set off, the surrogate of the county in which the decedent resided at death (or the Superior Court) shall appoint two discreet and impartial persons as appraisers who are neither interested in the estate nor related to the decedent's surviving spouse/partner or child. Before acting, each appraiser shall be sworn to faithfully, honestly, and impartially appraise the property according to its true and intrinsic value, without reference to what the property might bring at a public sale, valued as of the date of the decedent's death.

☐ Appraisers approved / appointed by the Surrogate or Superior Court on [__/__/____].

SCHEDULE A — REAL PROPERTY

Schedule A Subtotal (gross value): $[________________]

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: $[________________]

6. RECAPITULATION / SUMMARY

7. VERIFICATION OF PERSONAL REPRESENTATIVE

I, [PERSONAL REPRESENTATIVE FULL LEGAL NAME], of full age, being duly sworn according to law, depose and say that I am the [☐ executor ☐ administrator] of the Estate of [DECEDENT FULL LEGAL NAME]; that I have made a diligent search and reasonable inquiry for the property of the decedent; and that the foregoing is a true and perfect inventory — full and specific in its details (N.J.S.A. 3B:16-1) — of all the real and personal property of the decedent that has come to my hands, possession, or knowledge, or into the hands of any other person for me, valued as of the date of the decedent's death. I certify that the foregoing statements made by me are true; I am aware that if any of the foregoing statements made by me are willfully false, I am subject to punishment.

Sworn / certified on [__/__/____] at [MUNICIPALITY], New Jersey.

Signature of Personal Representative: ______________________________________

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

8. APPRAISERS' CERTIFICATE (N.J.S.A. 3B:16-3)

We, the undersigned appraisers, having been duly sworn, certify that we have faithfully, honestly, and impartially appraised the property listed above according to its true and intrinsic value as of the date of the decedent's death, without reference to what the property might bring at a public sale.

Appraiser 1 Signature: ______________________________ Date: [__/__/____]
Printed Name / Address: [____________________]

Appraiser 2 Signature: ______________________________ Date: [__/__/____]
Printed Name / Address: [____________________]

9. CERTIFICATE OF FILING / SERVICE

Where required, the inventory and appraisal is filed with the Surrogate's Court of [COUNTY] County (or the Superior Court, Chancery Division — Probate Part) per N.J.S.A. 3B:16-2. Copies furnished as indicated below.

Signature: ______________________________________
Printed Name: [PERSONAL REPRESENTATIVE / ATTORNEY NAME]
NJ Attorney ID: [________________] (if attorney)
Address / Telephone / Email: [________________________________]

ATTACHMENTS CHECKLIST

☐ Date-of-death statements for each bank, investment, and retirement account (Schedules C–E)
☐ Deed / block-and-lot reference for each parcel of real property (Schedule A)
☐ Appraisers' sworn certificate (N.J.S.A. 3B:16-3) — where an appraisal is filed
☐ Surrogate's / Superior Court approval or appointment of appraisers, if applicable
☐ Family-exemption set-off documentation, if applicable (N.J.S.A. 3B:16-5)
☐ Court order or demand requiring the inventory, if applicable (N.J.S.A. 3B:16-2)

SOURCES AND REFERENCES

• N.J.S.A. 3B:16-1 — General requisites; an inventory must be full and specific in its details.
• N.J.S.A. 3B:16-2 — Inventory and appraisal to be made and filed; on demand, when required, or to set off the family exemption; not required to be filed until 3 months after the grant of letters.
• N.J.S.A. 3B:16-3 — Appointment of appraisers; two discreet and impartial persons; oath to appraise according to true and intrinsic value.
• N.J.S.A. 3B:16-5 — Exemption for the benefit of the family of the decedent.
• New Jersey Surrogate's Court / Superior Court, Chancery Division — Probate Part: https://www.njcourts.gov/