Michigan Estate Inventory Form with Instructions

When someone passes away in Michigan and leaves behind assets, the personal representative is legally required to document everything the estate owns. That's where the Michigan estate inventory form comes in. If you're handling a loved one's estate, you need to list every bank account, piece of real estate, vehicle, and personal belonging with an accurate value. Missing this step or filling it out incorrectly can delay probate, trigger court objections, or even put you at legal risk. Having a free printable Michigan estate inventory form with clear instructions can save you hours of confusion and help you meet court deadlines without hiring an attorney for every question.

What Is a Michigan Estate Inventory Form?

A Michigan estate inventory form (also called the Inventory under MCL 700.3706) is a court document that the personal representative of an estate must file with the probate court. It lists every asset the deceased person owned or had an interest in at the time of death, along with the fair market value of each item as of the date of death.

The form is required by Michigan probate law and must be filed within 91 days of the personal representative's appointment. It covers:

Real property homes, land, commercial buildings
Financial accounts checking, savings, CDs, investment accounts
Personal property vehicles, jewelry, furniture, collectibles
Business interests ownership in LLCs, partnerships, or sole proprietorships
Debts owed to the decedent loans made to others, pending settlements
Other assets life insurance payable to the estate, retirement accounts in some cases

The form doesn't require you to list property that passes outside probate, such as assets held in a living trust, jointly owned property with rights of survivorship, or accounts with designated beneficiaries. Understanding what goes on the form and what doesn't is where most people get stuck. You can find more detail in our guide on Michigan probate court forms and instructions for personal representatives.

When Do You Need to File This Form?

You need to file the estate inventory if you've been appointed as the personal representative (sometimes called executor) of an estate in Michigan probate court. This applies whether the person died with a will (testate) or without one (intestate).

Here are the most common situations where this form is required:

You opened a formal probate estate in a Michigan circuit court
The court issued you Letters of Authority naming you as personal representative
The estate includes assets that need to go through probate meaning they aren't already transferred by beneficiary designation or joint ownership

If the estate qualifies for Michigan's simplified probate process for small estates, you may not need the full inventory form at all. In that case, review our Michigan small estate affidavit form guide to see if that simpler path applies to your situation.

How Do You Get Accurate Values for Estate Assets?

The biggest source of stress when filling out the inventory is figuring out what things are worth. Michigan law requires fair market value as of the date of death, not the purchase price or what you think something might sell for months later.

Here are practical approaches for common asset types:

Real Estate

Use the county tax assessment as a starting point, but keep in mind that assessed values often lag behind market conditions. For a more accurate number, look at recent comparable sales in the neighborhood through public records or real estate websites. If the property is unusual or high-value, a licensed appraisal is the safest option.

Bank and Investment Accounts

Request statements as of the date of death from each financial institution. Most banks and brokerage firms will provide a date-of-death valuation letter if you ask. This is the most reliable way to document these assets.

Vehicles

Check the vehicle's value on Kelley Blue Book using the date of death, the car's year, make, model, mileage, and condition. Print or save the result for your records in case the court requests documentation.

Personal Property and Household Items

For everyday household items like furniture, clothing, and appliances, reasonable estimates are generally acceptable. For items with significant value jewelry, art, antiques, firearms, collectibles you may need a professional appraisal, especially if other heirs could challenge the values.

Step-by-Step: How to Fill Out the Michigan Estate Inventory Form

The form itself is organized into sections. Here's how to approach each part:

Header information Fill in the estate's case number, the decedent's full name, the county where the probate case is filed, and your name as personal representative.
Real property section List each parcel with its address, legal description (you'll find this on the deed), and fair market value. Include a brief description of the property type.
Personal property section This is typically the longest section. List bank accounts, vehicles, household goods, and other personal items. Group similar items when practical (for example, "household furniture and furnishings" with a total value) rather than listing every chair and lamp individually.
Debts and obligations owed to the estate If anyone owed the decedent money, list those amounts here.
Totals and signature Add up all values, sign the form, and include the date. Some courts require a notarized signature check your local court's requirements.

For a more detailed walkthrough of petition forms and related court filings, see our step-by-step guide to filling out Michigan probate court petition forms.

What Are the Most Common Mistakes People Make?

Filing an estate inventory seems straightforward, but errors happen frequently. Here are the ones that cause the most problems:

Using the wrong valuation date. Values must reflect the date of death, not the current market value or the value when you inherited or sold the item. If six months have passed since the date of death, real estate values may have shifted use the date-of-death number regardless.
Omitting assets. People commonly forget about safe deposit boxes, digital assets (cryptocurrency, PayPal balances), stored value gift cards, pending tax refunds, and money owed to the decedent. Leaving something off can result in a court objection or personal liability.
Listing non-probate assets. Life insurance with a named beneficiary, jointly held bank accounts, and retirement accounts with a designated beneficiary usually don't belong on the inventory. Including them creates confusion and overstates the estate.
Not filing on time. Michigan gives you 91 days from appointment. Missing this deadline can result in a court order compelling you to file, and repeated failures can lead to removal as personal representative.
Failing to list encumbrances. If real estate has a mortgage, you should still list the full fair market value of the property. The mortgage is a debt of the estate, but the inventory should reflect the gross value of the asset.

Our guide on common mistakes when completing Michigan probate forms covers additional errors that trip people up across all probate filings, not just the inventory.

Do You Need to List Everything Separately, or Can You Group Items?

Michigan law doesn't require you to list every fork and picture frame individually. The court needs enough detail to understand what the estate contains and what it's worth. A reasonable approach:

List high-value items individually vehicles, real estate, bank accounts, valuable jewelry, art, or collections.
Group low-value household items "Household furniture and personal effects" with a lump-sum estimate is typically acceptable.
Provide account-level detail for financial assets list each bank or investment account separately with the institution name and account number.

When in doubt, provide more detail rather than less. If an heir or creditor objects to the inventory, having documentation for every number protects you.

What Happens After You File the Inventory?

Once the inventory is filed, it becomes part of the probate court record. Here's what to expect next:

Court review The court may review the inventory for completeness, especially if the estate is large or contested.
Creditor access Creditors of the estate can review the inventory to determine whether to file claims.
Heir notification Interested parties (heirs, beneficiaries, creditors) may receive notice and have the opportunity to object.
Ongoing duty to update If you discover additional assets after filing, you may need to file a supplemental inventory.
Settlement planning The inventory values help determine how debts are paid, whether property needs to be sold, and how remaining assets are distributed to heirs.

Practical Checklist Before You File

Use this checklist to make sure your estate inventory is complete and accurate:

Gather all deeds, bank statements, vehicle titles, and investment account statements as of the date of death
Check for safe deposit boxes by contacting the decedent's bank
Search for digital assets email accounts, online financial accounts, cryptocurrency wallets
Review tax returns from the last three years to find accounts or income sources you might have missed
Get date-of-death valuation letters from financial institutions
Appraise high-value personal property (jewelry, art, firearms, collectibles) if needed
Distinguish probate assets from non-probate assets before listing
Calculate fair market values using the date of death, not current prices
Double-check that every asset category is accounted for real property, financial accounts, personal property, debts owed to the estate
Verify your local court's filing requirements some courts want the original signed form, some accept electronic filing
Mark your calendar for the 91-day filing deadline from the date of your appointment
Keep copies of the completed form and all supporting documents for your records

For the complete set of Michigan probate forms and how to approach each one, visit our overview of Michigan probate court forms with instructions for personal representatives. Starting with the right form and filling it out carefully the first time is the single best way to keep the probate process moving without unnecessary delays.