Missouri Probate Inventory and Appraisal Forms

When someone dies in Missouri and leaves behind property, bank accounts, or personal belongings, the court needs a clear record of everything the deceased owned and what it's worth. That's where the probate inventory and appraisal comes in. If you've been named as a personal representative (executor) of an estate, this is one of the first responsibilities the court will expect you to handle and getting it wrong can delay the entire probate case or expose you to personal liability.

What Is a Probate Inventory and Appraisal in Missouri?

A probate inventory is a written list of every asset the deceased person owned at the time of death. The appraisal part assigns a fair market value to each item. Together, they give the Missouri probate court a snapshot of the estate so it can oversee the proper distribution of assets to heirs and creditors.

Under Missouri law (specifically RSMo § 473.230), the personal representative must file this inventory with the court within a set timeframe after being appointed. This isn't optional it's a legal requirement, and failing to file can result in removal from the role or court sanctions.

The inventory typically includes:

Real property – homes, land, commercial buildings
Personal property – vehicles, jewelry, furniture, collectibles
Financial accounts – bank accounts, investment portfolios, retirement funds
Business interests – ownership stakes in companies or partnerships
Debts owed to the deceased – promissory notes, receivables
Life insurance or death benefits payable to the estate

When Does the Inventory Need to Be Filed?

In Missouri, the personal representative generally has 30 days after receiving letters of administration (the court document granting authority) to file the inventory. The court may grant extensions in certain situations, but you shouldn't count on it. Missing the deadline without explanation can raise red flags with the judge.

This timeline is part of the broader step-by-step Missouri probate process, and the inventory is one of the earliest tasks you'll face as a personal representative.

What Forms Do You Actually Need?

Missouri doesn't use a single statewide standardized inventory form that applies in every county. Some circuits have their own local forms, while others accept a general format as long as it meets the statutory requirements. You'll want to check with the probate division of the specific circuit court handling the case.

At minimum, the inventory document must include:

A description of each asset
The fair market value of each asset as of the date of death
A statement of any liens, mortgages, or encumbrances on property

Some courts provide fillable PDF forms or templates. If your county doesn't, you can prepare a document that follows the format laid out in RSMo § 473.230. The key is making sure nothing gets left out.

How Do You Appraise the Assets?

For most household items and personal property, you can estimate fair market value yourself that's the price the item would sell for between a willing buyer and a willing seller. Online marketplaces, recent sales data, and common sense go a long way here.

But for certain assets, the court may require or strongly recommend a professional appraisal:

Real estate – A licensed appraiser should determine value, especially if the property has a mortgage or is a significant part of the estate.
Business interests – Valuing a business requires specialized knowledge.
Antiques, art, or collectibles – Items with subjective or hard-to-determine value benefit from expert assessment.
Vehicles – NADA or Kelley Blue Book values are commonly accepted.

The cost of professional appraisals comes out of the estate, not your personal funds. Keep all receipts and documentation.

What Counts as an Estate Asset?

This is where personal representatives often get confused. Not everything the deceased person touched or used is part of the probate estate. You need to distinguish between probate assets and non-probate assets.

Probate assets (included in the inventory):

Property owned solely by the deceased
Bank accounts without a payable-on-death designation
Personal belongings, vehicles, and household goods titled in the deceased's name

Non-probate assets (typically excluded):

Life insurance with a named beneficiary
Retirement accounts with designated beneficiaries
Property held in joint tenancy with right of survivorship
Assets in a living trust

If the estate is small enough, the heirs might be able to use a small estate affidavit instead of going through formal probate, which skips the inventory requirement entirely.

Common Mistakes That Cause Problems

Over the years, certain errors come up again and again in Missouri probate cases:

Forgetting assets – Leaving out a bank account, vehicle, or piece of property looks suspicious and can delay proceedings. Search thoroughly for all accounts and titled property.
Overvaluing or undervaluing property – Inflated values can increase court costs and taxes. Low values can shortchange heirs or creditors and lead to legal disputes.
Mixing estate assets with personal assets – As a personal representative, you must keep the deceased's property completely separate from your own.
Ignoring debts and encumbrances – Mortgages, liens, and secured debts should be noted on the inventory.
Missing the filing deadline – Late filings can result in court orders, fines, or removal as personal representative.
Not filing in the correct county – The inventory goes to the court where probate was opened. This seems obvious, but mistakes happen, especially when property spans multiple counties.

Do You Need an Attorney to Prepare the Inventory?

Missouri law doesn't require you to hire a lawyer, but probate involves real legal obligations and potential personal liability. For straightforward estates with clearly titled assets, many personal representatives handle the inventory themselves using court-provided forms or guidance from the probate clerk's office.

For estates with business interests, multiple properties, contested assets, or complex financial arrangements, an attorney's help is worth the cost. The fees come from the estate, not your pocket.

The required documents for executors go beyond just the inventory, so having someone guide you through the full set of paperwork can save time and reduce stress.

What Happens After You File the Inventory?

Once filed, the inventory becomes part of the probate record. Here's what typically follows:

Court review – The judge or probate commissioner reviews the filing for completeness.
Creditor review – Creditors can examine the inventory to understand the estate's ability to pay outstanding debts.
Heir review – Beneficiaries can review and, if necessary, object to valuations or question missing assets.
Amendments – If you discover additional assets after the initial filing, you must file an amended inventory promptly.

After the inventory is accepted, the probate case moves toward paying debts, filing taxes, and distributing assets. If you need help with the full filing process, our guide on how to file probate court forms in Missouri walks through the mechanics of submitting documents to the court.

Quick Checklist Before You File

Use this checklist to make sure your inventory and appraisal is complete and accurate:

✅ Gather death certificates, property deeds, vehicle titles, and bank statements
✅ Search for all accounts using the deceased's name (check mail, email, and tax returns)
✅ Separate probate assets from non-probate assets
✅ Determine fair market value for each item as of the date of death
✅ Hire professional appraisers for real estate, businesses, and high-value collectibles
✅ Note all liens, mortgages, and debts attached to assets
✅ Check your county court's local forms and requirements
✅ File the inventory within 30 days of receiving letters of administration
✅ Keep copies of everything you submit
✅ File an amended inventory if you discover assets later

Next step: Contact the probate division of your Missouri circuit court to confirm whether they have a local inventory form, and gather all financial documents for the deceased as early as possible. The sooner you start, the fewer headaches you'll have down the road.