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Understanding the inventory.

One of the first major steps in any probate case is preparing and filing the Inventory. The Inventory is a detailed list of everything the deceased person (the “decedent”) owned at the time of their death.

What Should Be Included in the Inventory?

The Inventory must include all assets the decedent owned individually or had an interest in.

This usually includes:

  • Real estate (homes, land, rental properties)

  • Bank accounts (checking, savings, money markets)

  • Investment accounts (stocks, bonds, mutual funds)

  • Personal property (vehicles, jewelry, collectibles, furniture)

  • Business interests (ownership in companies or partnerships)

  • Life insurance policies if payable to the estate

  • Retirement accounts (if no named beneficiary)

  • Any debts owed to the decedent (such as a loan they made to someone)

Important: Assets that pass outside of probate — like accounts with named beneficiaries or jointly owned property with rights of survivorship — are generally not included in the Inventory.

How Detailed Does the Inventory Need to Be?

The Court requires clear descriptions and fair market values as of the date of death.

For example:

  • Instead of listing “car,” you should list “2019 Honda Accord EX, VIN ending XXXX, 45,000 miles.”

  • Instead of listing “bank account,” you should list “U.S. Bank checking account ending in 1234, balance: $5,240.17.”

Real estate usually must be listed with the legal description and a value, often based on an appraisal or tax assessment.

Why the Inventory Matters

The Inventory is not just a checklist — it plays a critical role in the probate process:

  • It sets the starting point for managing and protecting estate assets

  • It helps the Court oversee the estate and ensure proper administration

  • It is used by creditors to determine whether they should file a claim

  • It helps heirs and beneficiaries understand what they may be receiving

Failure to file a complete and accurate Inventory can result in penalties, fines, or removal of the personal representative.

When Does the Inventory Need to Be Filed?

In most Missouri and Kansas probate cases, the Inventory must be filed:

  • Within 30 to 60 days after the personal representative (or administrator) is appointed

    (specific deadlines vary slightly by county and type of estate)

If you need additional time, your attorney may request an extension — but it’s important not to miss this deadline without Court approval.

Helpful Tips for Completing the Inventory

  • Start early: Gathering asset information can take time.

  • Be thorough: Leaving off an asset can cause major delays later.

  • Keep supporting documents: Bank statements, deeds, titles, and appraisals may need to be provided.

  • Ask for help: An experienced probate attorney can help you correctly list and value all assets.

Sample Inventories

May of the Missouri Court's forms can be found online, for example, an inventory filed in Jackson County, Missouri would go on this form: https://www.16thcircuit.org/forms-5 (search INVENTORY), while an inventory filed in Clay County, Missouri would go on this form: https://www.circuit7.net/forms/?office=PRO (search INVENTORY AND APPRAISEMENT).

The Inventory is the foundation of the estate.

Taking the time to prepare it carefully makes the entire probate process smoother — and protects you, as the personal representative, from unnecessary risk.

Legal Disclaimer: This information is provided for general educational purposes only and does not constitute legal advice. Please consult an attorney for advice specific to your situation.