DEFINITIONS:
• Real property means land, including a building or house that is built on the land.
• Personal property means everything that a person owns except real property. Personal property includes bank accounts
and checking accounts.
INSTRUCTIONS TO COMPLETE THE INVENTORY:
1. List all real and personal property in the column "Personal Property and Real Property Description."
2. When listing real property, provide the legal description of the property and the name of any other owner.
a. If real property has been used to secure a loan (including an equity line of credit), show the nature and amount of the lien,
and reduce the gross value (value as of date of death) by the amount of the lien, but the inventory value cannot be less
than zero.
b. If the value of real property is determined by an appraisal, include the appraiser's name and address and a description of
the property appraised.
c. If this form is filed in a guardianship, real property that the ward owns jointly or in common with others must be listed along
with the type of ownership. The court may require additional information to support the value of property that is stated in
the inventory.
d. For each parcel of real property, calculate the value individually.
3. When listing personal property, provide enough detail to adequately determine the value. Some items should be listed
separately and some items should be combined under one category. Provide the name and address of each financial
institution listed. The address of a financial institution shall be either that of the institution's main headquarters or the branch
used most frequently by the personal representative.
Do not provide financial account numbers on this form. If an account number is necessary to distinguish between accounts,
put it on form MC 97.
a. Examples of items that should be listed and valued separately are:
• Automobiles • Life insurance if payable to the estate
• Jewelry • Annuities
• Bank accounts • Mutual funds
• Antiques • Stocks and bonds
• Any other individual item of high value
b. Examples of items that can be listed in categories are household items such as dishes, flatware, curtains, linens, utensils,
clothing, furnishings, etc. These items can be grouped into several categories or combined into one category.
c. If personal property has been used to secure a loan, show the nature and amount of the lien, but do not deduct the lien
amount from the gross value (value as of the date of death) of any item of personal property.
d. If the value of personal property is determined by an appraisal, include the appraiser's name and address and a description
of the property appraised.
e. If this form is filed in a guardianship, personal property that the ward owns jointly or in common with others must be listed
along with the type of ownership. The court may require additional information to support the value of property that is
stated in the inventory.
