Houston Estate Planning and Elder Law Attorney Blog
After a Texas probate court appoints an executor or administrator, one of the first legal obligations is to prepare and file an inventory, appraisement, and list of claims. Under Texas Estates Code § 309.051, the personal representative must file this document within 90 days of receiving Letters Testamentary or Letters of Administration. The inventory serves as a comprehensive snapshot of everything the estate owns and everything it owes — and it plays a central role in how the estate is administered from that point forward.
McCulloch & Miller, PLLC has helped executors and administrators prepare and file probate inventories in Harris County Probate Courts and courts throughout the greater Houston metro area for over 35 years. The firm offers flat fee pricing on many probate matters, and founding partner Thomas McCulloch’s dual credentials as an attorney and a CPA provide a distinct advantage when inventories involve complex asset valuations or tax-sensitive property.
What Does a Texas Probate Inventory Include?
A probate inventory is a sworn document that lists and values every asset the decedent owned at the date of death. It must also include a list of claims — debts owed by the estate to creditors and debts owed to the estate by third parties. The inventory covers all categories of property: real estate, bank accounts, investment and brokerage accounts, vehicles, personal property, life insurance payable to the estate, business interests, and any other asset that the decedent owned in their individual name.
Each asset must be described with enough specificity that the court and the beneficiaries can identify it. Real property should include the legal description and street address. Financial accounts should include the institution name and approximate value as of the date of death. Personal property of significant value — such as jewelry, artwork, or collectibles — should be individually listed and appraised.
The inventory must be verified by the executor or administrator under oath. Filing an inaccurate or incomplete inventory can expose the personal representative to liability, including removal by the court. McCulloch & Miller, PLLC works closely with executors in Houston and Harris County to ensure every asset is properly identified, valued, and documented before the inventory is filed.
When Is the Inventory Due?
Under Texas Estates Code § 309.051, the inventory must be filed within 90 days after the date the personal representative qualifies — meaning the date the court issues Letters Testamentary (for executors) or Letters of Administration (for administrators). The court can grant an extension for good cause, but the personal representative must request it before the deadline passes.
Missing the 90-day deadline without an extension can have consequences. Beneficiaries or creditors can petition the court to compel the filing, and in dependent administrations, the court may take additional supervisory action. For independent executors, the consequences are less immediate but no less important — failing to account for the estate’s assets can erode trust among beneficiaries and invite challenges to the executor’s management.
How Is Property Valued in the Inventory?
Texas law requires that estate assets be listed at their fair market value as of the date of the decedent’s death. Fair market value is defined as the price a willing buyer would pay a willing seller, with both parties having reasonable knowledge of the relevant facts and neither being under any compulsion to act.
For some assets, establishing fair market value is straightforward. Bank account balances, publicly traded securities, and vehicle values can be documented with account statements and standard valuation guides. For other assets — real estate, closely held business interests, mineral rights, artwork, and antiques — the executor may need to hire a professional appraiser.
The dual JD/CPA credential that founding partner Thomas McCulloch holds is particularly valuable in this context. Accurate valuations affect not only the probate inventory but also estate tax calculations, income tax basis for beneficiaries, and the equitable distribution of assets. Getting the numbers right at the inventory stage prevents costly corrections later.
Is the Inventory Required in Every Texas Probate?
The inventory requirement depends on the type of probate proceeding. In a dependent administration, the inventory is mandatory and must be filed with the court. The court reviews and approves it, and it becomes part of the public record.
In an independent administration — the most common form of probate in Harris County and across Texas — the executor is still required to prepare an inventory. However, under Texas Estates Code § 309.056, an independent executor may file the inventory with the court or, alternatively, provide a verified, detailed inventory to each beneficiary of the estate. Many independent executors choose the latter option to keep the estate’s financial details out of the public record.
In a muniment of title proceeding, no inventory is required because no executor is appointed and no formal administration takes place. The court simply admits the will and issues an order transferring title.
| Proceeding Type | Inventory Required? | Filed with Court? |
|---|---|---|
| Dependent Administration | Yes | Yes — court reviews and approves |
| Independent Administration | Yes | Optional — may provide to beneficiaries instead |
| Muniment of Title | No | N/A |
| Small Estate Affidavit | No (asset list included in affidavit) | Included in affidavit filing |
What Happens If Assets Are Discovered After the Inventory Is Filed?
It is not uncommon for additional assets to surface after the initial inventory has been filed — a forgotten bank account, an unexpected life insurance policy, or real property in another county. When this happens, the executor must file a supplemental inventory with the court (or provide a supplemental accounting to beneficiaries in an independent administration). The supplemental inventory follows the same format and valuation requirements as the original.
Promptly identifying and reporting newly discovered assets protects the executor from claims of mismanagement and ensures that all beneficiaries receive their proper share. A Houston probate attorney can advise on the best approach when assets are discovered after the initial filing.
Frequently Asked Questions
Can beneficiaries see the probate inventory in Texas?
In a dependent administration, the inventory is filed with the court and becomes part of the public record, accessible to anyone. In an independent administration, the executor may choose to provide the inventory directly to beneficiaries rather than filing it with the court, which keeps the details private. Either way, beneficiaries are entitled to receive the inventory information.
What happens if the executor does not file an inventory?
If the executor fails to file the inventory within 90 days (or an extended deadline granted by the court), any interested party — including beneficiaries and creditors — can petition the court to compel the filing. In a dependent administration, the court may also impose sanctions or consider removing the executor for failing to comply.
Does the executor need a professional appraisal for every asset?
Not necessarily. Professional appraisals are typically needed for real estate, business interests, and unique personal property such as art or collectibles. Standard assets like bank accounts, publicly traded securities, and vehicles can be valued using account statements and recognized valuation tools. The goal is to establish a fair market value that can withstand scrutiny from the court, beneficiaries, and tax authorities.
Talk to a Houston Probate Attorney
Preparing a probate inventory requires attention to detail, accurate valuations, and an understanding of what the court and beneficiaries expect. The attorneys at McCulloch & Miller, PLLC have guided executors through this process in Harris County, Fort Bend County, and courts across the Houston metro area for more than three decades. The firm’s approach combines legal knowledge with the financial expertise of founding partner Thomas McCulloch, whose JD/CPA credentials ensure that valuations are both legally sound and tax-efficient. Flat fees are available for many probate matters.
Call (713) 333-8900 or schedule a consultation online to discuss your probate case.