After the court appoints you to manage someone’s affairs after death, one of your first tasks is figuring out what the person owned and what those items were worth when they died. In Kentucky probate, that information goes into an estate inventory. This list helps the court and beneficiaries understand what is available before debts are paid and assets are transferred.
What assets should you list?
The form should list assets the person owned at death that must go through probate. These may include:
- Real estate in Kentucky: Include land, a home or other property owned in the person’s name.
- Personal property: List vehicles, household goods, jewelry, tools, collections or valuable items.
- Money and accounts: Include bank accounts, stocks, bonds or other financial assets that must go through probate.
- Debts owed to the estate: List loans, unpaid notes or other amounts someone owed the person who died.
These categories help organize the filing, but not every asset goes through probate. For harder-to-value assets, such as real estate, artwork, jewelry or a business interest, a professional appraiser can help support the amount listed.
Some property may transfer without probate, such as an account with a named beneficiary, property with a surviving joint owner or an asset with a transfer-on-death designation. For very small estates, the state offers a shorter process called a Petition to Dispense With Administration, which can avoid the full court process for certain assets.
When and how do you file the inventory?
State law requires you to file two copies of the inventory within two months of qualifying as personal representative. You can use Form AOC-841, Inventory and Appraisement of Estate.
Before filing, gather deeds, titles, account statements, appraisals and records that support the values listed. The inventory must be signed under oath before a notary or circuit clerk. If the filing is late, the court may send a notice and set a new deadline. If the problem continues, the court may refuse payment for your work, remove you from the role or impose a daily fine.
Keeping the estate organized
A complete inventory can reduce confusion while probate moves forward. Timely filing and accurate valuations prevent unnecessary delays and maintain transparency for beneficiaries.
