California Probate Inventory and Appraisal: Complete Filing Guide

What Is the Inventory and Appraisal? {#what-is-inventory}

The Inventory and Appraisal (Form DE-160/DE-161) is a comprehensive listing of all assets in the probate estate with their fair market values as of the date of death. It serves several critical purposes in California probate:

Legal requirement: California Probate Code Section 8800 mandates filing an inventory within 4 months of Letters being issued.

Estate snapshot: Provides the court, beneficiaries, and creditors with a complete picture of estate assets.

Fee calculation: Statutory fees for the attorney and personal representative are based on the inventory value.

Distribution basis: The inventory determines what's available for distribution to beneficiaries.

Creditor information: Creditors use the inventory to assess whether claims can be paid.

The inventory is one of the most important documents in any probate case. Errors or omissions can cause delays, disputes, and potential surcharge liability.

The 4-Month Deadline {#deadline}

When Is It Due?

The Inventory and Appraisal must be filed within 4 months of the date Letters Testamentary or Letters of Administration are issued.

Example:

• Letters issued: March 15
• Inventory due: July 15

Why This Deadline Matters

Statutory requirement: Missing the deadline violates Probate Code 8800.

Court consequences: Courts can issue orders to show cause, remove personal representatives, and impose sanctions.

Beneficiary issues: Beneficiaries may petition the court to compel filing.

Malpractice exposure: Missing statutory deadlines creates liability.

Calendar It Immediately

The moment Letters are issued:

1. Calculate the 4-month deadline
2. Set reminder at 60 days
3. Set reminder at 90 days
4. Set hard deadline at 110 days (buffer)

Don't wait until month 3 to start gathering information.

Assets to Include {#assets-to-include}

What Must Be Listed

Real property:

• Primary residence
• Rental properties
• Vacant land
• Commercial property
• Out-of-state real property (may require ancillary probate)

Financial accounts:

• Bank accounts (checking, savings, CDs)
• Brokerage accounts
• Stocks and bonds in decedent's name alone
• Mutual funds
• Cryptocurrency

Retirement accounts (if no beneficiary designated):

• IRA
• 401(k)
• Pension benefits

Vehicles:

• Cars
• Motorcycles
• Boats
• RVs
• Aircraft

Personal property:

• Jewelry
• Art and collectibles
• Furniture (if significant value)
• Electronics
• Tools and equipment

Business interests:

• Sole proprietorship assets
• Partnership interests
• LLC membership interests
• Corporate stock (closely held)

Other assets:

• Life insurance payable to estate (not individual beneficiaries)
• Debts owed to decedent
• Tax refunds due
• Legal claims/judgments
• Intellectual property

What NOT to Include

Assets that pass outside probate should not be on the inventory:

Joint tenancy property: Passes automatically to surviving joint tenant

Community property with right of survivorship: Passes to surviving spouse

Trust assets: Administered separately under trust administration

Beneficiary-designated accounts: Life insurance, retirement accounts with named beneficiaries

POD/TOD accounts: Bank accounts with payable-on-death or transfer-on-death designations

Note: If unsure whether an asset is in the probate estate, consult the account documentation or title.

Valuation Rules {#valuation-rules}

Date of Death Value

All assets must be valued as of the date of death, not:

• The date you discovered them
• The date of filing
• Current market value

Who Values What

Probate referee (court-appointed appraiser):

• All real property
• Business interests
• Unique personal property (art, antiques, collectibles)
• Securities not publicly traded

Personal representative (attorney may assist):

• Cash
• Bank accounts (statement balance as of death date)
• Publicly traded securities (closing price on death date)
• Vehicles (fair market value)
• Household items and ordinary personal property

Valuation Standards

Real property: Fair market value (what a willing buyer would pay a willing seller)

Securities: Closing price on date of death (or average of high/low if no closing price)

Vehicles: Fair market value (Kelley Blue Book, NADA)

Personal property: Reasonable fair market value (not replacement cost, not sentimental value)

Getting the Numbers

Bank statements: Request date-of-death balance from each institution

Brokerage statements: Get holdings as of death date with per-share values

Real property: Probate referee will appraise

Vehicles: Use Kelley Blue Book or similar guide

Working with Probate Referees {#probate-referee}

What Is a Probate Referee?

Probate referees are court-appointed appraisers who value certain estate assets. Each county maintains a list of approved referees who are assigned to cases on a rotating basis.

Which Assets They Appraise

Mandatory referee appraisal:

• All real property
• Business interests (partnership, LLC, closely held corporations)
• Unusual personal property

Optional referee appraisal:

• Valuable collections
• Art and antiques
• Any asset where professional appraisal is warranted

The Referee Assignment Process

1. Automatic assignment: When you file your petition or after Letters issue, a referee is assigned
2. Notice: You receive notice of the assigned referee's name and contact information
3. Contact: You contact the referee to arrange appraisal

Working Effectively with Referees

Contact promptly: Don't wait until month 3. Contact the referee within 30 days of receiving Letters.

Provide access: Arrange access to real property. Occupied properties may require coordination with tenants.

Provide information: Give the referee:

• Legal description of real property
• Address and access information
• Any relevant documents (recent appraisals, tax assessments)
• Contact information for property access

Respond quickly: When the referee requests information or access, respond within days, not weeks.

Referee Fees

Referees charge fees based on the value of assets appraised:

• Statutory fee: 0.1% of appraised value (minimum fee applies)
• Additional fees possible for complex valuations
• Paid from estate assets

Referee Timeline

Typical timeline:

• Contact referee: Week 1-2 after Letters
• Property inspection: Week 3-6
• Appraisal report received: Week 6-10
• Review and include in inventory: Week 10-14
• File inventory: Before 4-month deadline

Build in buffer time. Referee delays are one of the most common reasons for late inventories.

Completing Form DE-160 {#completing-de-160}

The Form Structure

Form DE-160 (Inventory and Appraisal) consists of:

Header: Case caption, decedent information

Attachment 1: Assets appraised by personal representative

Attachment 2: Assets appraised by probate referee

Summary: Total values

Signatures: Personal representative and probate referee

Form DE-161

For continuing inventories (very large estates), use Form DE-161 as continuation pages.

Step-by-Step Completion

1. Complete the header:

• Case number
• Decedent name
• Check box for original or supplemental inventory

2. List Attachment 1 assets: Each item needs:

• Item number
• Description (specific and complete)
• Appraised value
• Appraisal method (if securities, indicate source)

Example entries:

Item 1: Bank of America Checking Account #XXXX1234 - $15,432.00 Item 2: 2019 Honda Accord VIN: 1HGCV1F34KA123456 - $18,500.00

3. List Attachment 2 assets: Same format, but these are referee-appraised:

Item 1: Real property at 123 Main Street, Los Angeles, CA 90001 (APN: 1234-567-890) - $650,000.00

4. Calculate totals:

• Attachment 1 total
• Attachment 2 total
• Grand total

5. Obtain signatures:

• Personal representative signs declaration
• Probate referee signs appraisal certification

Filing

• File original with court
• Serve copies on interested parties
• Keep copy for file

Supplemental Inventories {#supplemental-inventories}

When Required

File a supplemental inventory when you discover assets not listed on the original inventory:

Common situations:

• Previously unknown bank account discovered
• Tax refund received
• Inheritance from another estate
• Legal claim settled
• Asset previously thought to pass outside probate

How to File

Same process as original inventory:

• Use DE-160 (check "Supplemental" box)
• List only newly discovered assets
• Get referee appraisal if required
• File with court

No Deadline (But Be Prompt)

There's no statutory deadline for supplemental inventories, but:

• File promptly when assets discovered
• Don't wait until closing to file multiple supplements
• Late-discovered assets delay final distribution

Common Mistakes to Avoid {#common-mistakes}

Missing Assets

Problem: Incomplete inventory creates issues at distribution.

Solution:

• Thorough intake questionnaire
• Review decedent's tax returns (shows income sources)
• Order credit report (shows accounts)
• Check decedent's mail for statements
• Ask family about assets

Wrong Values

Problem: Incorrect values affect fees and distributions.

Solutions:

• Use date-of-death values, not current values
• Get documentation for all values
• Securities: use closing price on death date
• Bank accounts: get date-of-death statement from bank

Missing Referee Signature

Problem: Inventory rejected for missing referee signature.

Solution: Don't file until referee has returned signed appraisal.

Including Non-Probate Assets

Problem: Listing joint tenancy or beneficiary-designated assets inflates the estate.

Solution: Verify title/beneficiary on every asset before listing.

Inadequate Descriptions

Problem: Vague descriptions cause problems later.

Solution: Include:

• Full legal descriptions for real property
• Account numbers (last 4 digits)
• VIN for vehicles
• Specific identification for valuable items

Waiting Too Long to Start

Problem: Starting in month 3 doesn't leave time for referee delays.

Solution: Begin asset identification immediately. Contact referee within 30 days.

Extensions and Late Filing {#extensions}

Requesting an Extension

If you cannot meet the 4-month deadline:

File petition: Request extension before deadline passes

Show cause: Explain why extension is needed (waiting for referee, complex assets, etc.)

Propose timeline: State when you expect to file

Courts generally grant reasonable extensions when requested timely and with good cause.

Late Filing Without Extension

If you miss the deadline without an extension:

• File as soon as possible
• Be prepared for court inquiry
• Document reasons for delay
• May need to file explanation with inventory

Consequences of Very Late Filing

• OSC (Order to Show Cause) from court
• Removal petition from beneficiaries
• Potential surcharge
• Malpractice exposure

Don't let this happen. Calendar the deadline and work backward from there.

Practice Tips {#practice-tips}

Create a Standard Checklist

Asset categories to investigate:

• [ ] Real property (check with county recorder)
• [ ] Bank accounts (check mail, statements)
• [ ] Investment accounts
• [ ] Retirement accounts
• [ ] Life insurance
• [ ] Vehicles (check DMV records)
• [ ] Business interests
• [ ] Valuable personal property
• [ ] Debts owed to decedent
• [ ] Tax refunds

Request Documentation Early

At intake, request:

• Last 2-3 years of tax returns
• Recent bank/brokerage statements
• Vehicle titles
• Real property deeds
• Insurance policies

Build Referee Relationships

If you practice regularly in a county:

• Get to know the referees
• Understand their preferences
• Communicate clearly and promptly
• They'll prioritize responsive attorneys

Use Software

ProbateYoda helps with:

• Asset tracking and categorization
• Deadline calculation and reminders
• Form generation with proper formatting
• Referee coordination tracking
• Supplemental inventory identification

Document Everything

Keep records of:

• Where each value came from
• Date documentation obtained
• Any assumptions or estimates
• Referee communications

This protects you if values are questioned later.

The Inventory and Appraisal may seem like paperwork, but it's foundational to proper estate administration. A complete, accurate, timely inventory sets up the rest of the case for success.