Executor's Guide to Estate Inventories in Texas

If you've been named as the executor of an estate in Texas, one of your first real responsibilities is completing an estate inventory. This document lists everything the deceased person owned at the time of their death their bank accounts, real estate, vehicles, personal belongings, and debts owed to them. Getting it right matters because the probate court uses it to verify that you're handling the estate properly, and errors or omissions can expose you to personal liability. Whether the estate is simple or complicated, the inventory sets the foundation for everything that follows.

What exactly is a Texas estate inventory, and why does the court require it?

An estate inventory is a sworn legal document filed with the probate court that details every asset belonging to the decedent as of their date of death. Under the Texas Estates Code Section 309.001, an executor or administrator must prepare and file this inventory, appraisement, and list of claims. The court requires it to protect the rights of beneficiaries and creditors and to hold the executor accountable.

Think of it this way: the inventory is your report card as executor. It shows the court exactly what was in the estate so everyone involved can trust that nothing was hidden, given away, or overlooked.

You can learn more about the specific form requirements the Texas probate court expects before you start filling anything out.

When does the executor need to file the inventory?

Texas law is strict about timing. The inventory is generally due 90 days after you qualify as executor meaning 90 days after the court officially appoints you and you take the oath. If you need more time, you can request an extension from the court, but you should file that request before the deadline passes.

Missing this deadline can result in the court holding you in contempt or removing you as executor. For a detailed breakdown of the filing timeline, see our article on the deadline for filing executor inventory documents in Texas.

What assets do you have to include on the inventory?

Almost everything the decedent owned or had a right to at the time of death goes on the inventory. This includes:

Real property homes, land, rental properties, mineral rights, and timeshares
Bank accounts checking, savings, CDs, and money market accounts in the decedent's sole name
Investment accounts brokerage accounts, stocks, bonds, and mutual funds
Retirement accounts IRAs, 401(k)s, and pensions that do not pass by beneficiary designation
Life insurance only policies payable to the estate, not those with named beneficiaries
Personal property vehicles, furniture, jewelry, art, electronics, firearms, and collectibles
Business interests sole proprietorships, partnerships, or LLC membership interests
Debts owed to the decedent money others borrowed from the decedent
Cash on hand any physical currency found in the home or safe deposit box

If you're unsure what qualifies, our guide on what assets must be listed on a Texas executor estate inventory covers this in more detail.

How do you value each asset on the inventory?

Texas requires you to list the fair market value of each asset as of the date of death. Fair market value means the price the property would sell for between a willing buyer and a willing seller, with neither being forced to act.

Assets with clear market values

For bank accounts and publicly traded stocks, the value is straightforward use the account balance or closing stock price on the date of death. Request statements from financial institutions as documentation.

Assets that need appraisal

Real estate, business interests, jewelry, art, and collectibles often need a professional appraisal. A licensed appraiser gives you a defensible number that the court, beneficiaries, and creditors can accept. This isn't an area to guess. If a beneficiary later questions a value you estimated on your own, you could face personal liability for the difference.

Common valuation approaches for different assets

Real estate: Hire a licensed real estate appraiser. County tax appraisals are usually not accepted because they often don't reflect true market value.
Vehicles: Use Kelley Blue Book or NADA Guides for fair condition values. Print and save the lookup.
Household contents: For everyday furniture and electronics, fair market value is typically much less than what the decedent paid. Use estate sale or thrift store comparable pricing.
Collectibles and jewelry: Get a formal written appraisal from a certified appraiser.
Business interests: A business valuation expert is almost always necessary here.

What does the Texas inventory form actually look like?

The inventory is organized into a structured format with specific columns and categories. The form typically requires:

A description of each asset
The value of the asset as of the date of death
Whether the asset is community property or separate property
Any liens, debts, or claims against the asset

Texas provides a standardized format, though some counties may have local variations. The key is to be detailed and specific "checking account at Chase Bank ending in 4532" is acceptable; "bank account" is not.

Independent executors in particular should review the document requirements specific to independent executors, since the process can differ slightly from dependent administration.

What is the step-by-step process to complete the inventory?

Here's how to work through it from start to finish:

Step 1: Gather documents and information

Collect the death certificate, will, financial statements, property deeds, vehicle titles, insurance policies, and tax returns. Go through the decedent's mail, email, and safe deposit box. Contact banks, brokerage firms, and insurance companies to get account statements.

Step 2: Make a complete list of every asset

Write down everything you find. Don't filter or judge value yet just list. Include the account number, property address, VIN, or other identifying information for each item.

Step 3: Determine community vs. separate property

Texas is a community property state. If the decedent was married, you need to classify each asset as community property or the decedent's separate property. This distinction affects how assets are distributed. Community property means the surviving spouse already owns half. Only the decedent's half goes into the estate for distribution under the will or intestate succession.

Step 4: Get appraisals and fair market values

As discussed above, obtain professional appraisals for real estate and high-value items. Use statements and standard reference tools for financial accounts and vehicles.

Step 5: Prepare the formal inventory document

Fill out the inventory form with every asset, its description, value, and property classification. Double-check that nothing is missing.

Step 6: Sign the inventory under oath

You must sign the inventory under oath before a notary public, swearing that the inventory is complete and accurate to the best of your knowledge. This is a sworn statement falsifying it is a criminal offense.

Step 7: File the inventory with the probate court

File the completed, signed, and notarized inventory with the clerk of the probate court within the required deadline. Keep copies for your own records and provide copies to beneficiaries as required.

What are the most common mistakes executors make on the inventory?

Forgetting assets: Executors sometimes miss safe deposit boxes, digital assets (cryptocurrency, online payment accounts), mineral interests, or debts owed to the decedent. Even a Venmo balance counts.
Guessing at values: Using made-up numbers instead of getting appraisals leads to problems. If you undervalue an asset, beneficiaries may accuse you of hiding estate value. If you overvalue it, you could be liable for taxes or distribution errors.
Mixing up community and separate property: Misclassifying property in a community property state like Texas can throw off the entire distribution. This is one area where a probate attorney earns their fee.
Filing late: Missing the 90-day deadline without requesting an extension puts you at risk of court sanctions or removal.
Listing assets that aren't part of the probate estate: Assets with beneficiary designations like life insurance or retirement accounts with named beneficiaries typically bypass the estate and should not appear on the inventory.
Not accounting for debts and liens: If a property has a mortgage or a car has an auto loan, you need to disclose those encumbrances on the inventory.

Do you need a lawyer to complete the inventory?

Texas law does not technically require you to hire a lawyer, but the inventory process involves legal classifications, valuation standards, and sworn statements that carry real consequences. A probate attorney can help you avoid costly mistakes, especially when community property rules, business interests, or disputes among beneficiaries are involved.

Many Texas probate attorneys will handle the inventory as part of a flat-fee probate package. For a straightforward estate, you may be able to manage on your own if you're organized and detail-oriented. For anything more complex, professional help is worth the cost.

What happens after you file the inventory?

Once filed, the inventory becomes a public record. Beneficiaries and creditors can review it. The court uses it to monitor your work as executor. As you sell assets, pay debts, and distribute property, you'll reference the inventory values for your final accounting.

Filing the inventory doesn't close the estate it's an early milestone in the probate process. You still need to pay valid debts, file final tax returns, and distribute remaining assets before you can close the estate and be discharged as executor.

Quick checklist for completing your Texas estate inventory

✅ Obtain certified copies of the death certificate
✅ Locate the will and any prior estate planning documents
✅ Contact all financial institutions to gather account statements
✅ Search for safe deposit boxes and digital assets
✅ List every asset with identifying details (account numbers, addresses, VINs)
✅ Classify each asset as community or separate property
✅ Arrange professional appraisals for real estate and high-value items
✅ Use fair market value as of the date of death not purchase price
✅ Disclose debts, liens, and encumbrances on each asset
✅ Exclude assets that pass outside probate by beneficiary designation
✅ Complete and review the inventory form for accuracy
✅ Sign the inventory under oath before a notary public
✅ File with the probate court before the 90-day deadline
✅ Keep copies for your records and distribute to beneficiaries as required

Next step: Start by gathering every financial document you can find bank statements, deeds, titles, tax returns, insurance policies and make a master list. Then cross-reference that list with the assets Texas requires you to include. If anything feels unclear, schedule a consultation with a Texas probate attorney before your filing deadline approaches.