Get the free THE SIMPLE ESTATE INVENTORY FORM - Agape

THE SIMPLE ESTATE INVENTORY From A Tool Designed to Assist Individuals and Families In Determining Estate Value and Will Preparation This form is designed as a guideline for calculating the current

How to fill out the simple estate inventory

How to fill out the simple estate inventory:

1. Gather all necessary documents: Before starting to fill out the simple estate inventory, make sure you have all the required documents such as the last will and testament, bank statements, property deeds, and any other records related to the assets and liabilities of the estate.
2. Identify and list the assets: Begin by identifying and documenting all the assets owned by the deceased. This includes real estate properties, vehicles, bank accounts, investments, life insurance policies, personal belongings, and any other valuable items. Write down the description, estimated value, and location of each asset.
3. Declare the liabilities: Note down any outstanding debts, loans, mortgages, or other financial obligations of the deceased. Be sure to include the name of the creditor, outstanding balance, and any relevant account numbers.
4. Seek professional assistance if needed: If the estate inventory seems complicated or if you are unsure about certain assets or liabilities, it is recommended to seek the help of a lawyer or a professional estate executor. They can guide you through the process, help clarify any legal complexities, and ensure accuracy in the inventory.
5. Review and update regularly: It is essential to review and update the simple estate inventory regularly. As circumstances change, assets may be acquired or disposed of, and liabilities may be settled. Keeping the inventory up to date will facilitate the distribution of the estate in accordance with the wishes outlined in the will.

Who needs the simple estate inventory:

1. Executors or administrators of the estate: The person responsible for managing and distributing the assets of the deceased needs the simple estate inventory to properly and accurately carry out their duties. It provides them with a comprehensive overview of the estate's assets and liabilities, helping them make informed decisions throughout the probate process.
2. Beneficiaries: The beneficiaries named in the will have a vested interest in knowing the inventory of the estate. It allows them to understand their potential inheritance and ensures transparency in the distribution.
3. Legal authorities and financial institutions: When settling the estate, legal authorities and financial institutions may require the submission of a simple estate inventory. These entities need the inventory to determine the value of the estate, calculate any applicable taxes, and facilitate the transfer of assets.

In conclusion, filling out the simple estate inventory involves gathering all necessary documents, identifying assets and liabilities, seeking professional assistance if needed, and regularly reviewing and updating the inventory. Executors, beneficiaries, legal authorities, and financial institutions are the primary individuals and entities that require the simple estate inventory for various purposes.

For pdfFiller’s FAQs

What is the simple estate inventory?

The simple estate inventory is a list of assets and liabilities of a deceased person at the time of their passing.

Who is required to file the simple estate inventory?

The executor or administrator of the deceased person's estate is required to file the simple estate inventory.

How to fill out the simple estate inventory?

The simple estate inventory can be filled out by listing all the assets (such as bank accounts, properties, vehicles, etc.) and liabilities (such as debts, mortgages, etc.) of the deceased person.

What is the purpose of the simple estate inventory?

The purpose of the simple estate inventory is to provide an accurate snapshot of the deceased person's estate for probate and distribution purposes.

What information must be reported on the simple estate inventory?

The simple estate inventory must include details of all the assets, liabilities, and their corresponding values at the time of the deceased person's passing.

How can I modify the simple estate inventory without leaving Google Drive?

Simplify your document workflows and create fillable forms right in Google Drive by integrating pdfFiller with Google Docs. The integration will allow you to create, modify, and eSign documents, including the simple estate inventory, without leaving Google Drive. Add pdfFiller’s functionalities to Google Drive and manage your paperwork more efficiently on any internet-connected device.

How do I make edits in the simple estate inventory without leaving Chrome?

Add pdfFiller Google Chrome Extension to your web browser to start editing the simple estate inventory and other documents directly from a Google search page. The service allows you to make changes in your documents when viewing them in Chrome. Create fillable documents and edit existing PDFs from any internet-connected device with pdfFiller.

How do I complete the simple estate inventory on an iOS device?

Install the pdfFiller iOS app. Log in or create an account to access the solution's editing features. Open your the simple estate inventory by uploading it from your device or online storage. After filling in all relevant fields and eSigning if required, you may save or distribute the document.