What is an
An Inventory is an official list filed or submitted to the
Probate Court that describes all the property owned by a Decedent,
Protected Individual, or an Individual with Developmental Disabilities and
includes accurate values for the property. Personal Representatives, Conservators, and Guardians of the Estate
of an Individual with Developmental Disabilities must prepare an
Used – PC577, Inventory (Decedent Estate)
PC647, Inventory (Conservatorship or
Guardian of the Estate of an Individual with Developmental Disabilities)
Forms may be found at Michigan Court - Court Forms where you can search for a specific form number (i.e. pc571). A list of Probate forms is available at the Numerical Index of Probate Court Forms page.
When does an
Inventory have to be filed or submitted?
For Unsupervised Administration (DE) – Must be submitted within 91 days of the date the Personal Representative’s Letters of
Authority were issued. Note: The Probate Court will review the Inventory to determine if it appears to
be accurate and complete, and to officially calculate the inventory
fee. The Inventory will be returned
to the Personal Representative unless they would like to file it with the
For Supervised Administration (DA) – Must be filed within 91 days of the date the Personal Representative’s Letters of
Authority were issued.
Must be filed within 56 days of the date the
Conservator’s Letters of Authority were issued.
Guardian of the
Estate of an Individual with Developmental Disabilities
Must be filed within 56 days of the date the Guardian
of the Estate’s Letters of Authority were issued.
What has to be
listed on an Inventory?
For Decedent Estates, all the assets owned by the Decedent
at the date of death.
For Conservatorships or Guardianships of the Estate for an
Individual with Developmental Disabilities, all the assets owned by or held
jointly\in common with others by the Protected Individual or the Individual
with Developmental Disabilities at the date the fiduciary’s Letters of
Authority were issued.
For real estate, include the street address and the complete
legal description as reflected on the deed.
For motor vehicles, boats, trailers, or motor homes, include
the year, make, model, and vehicle identification number (VIN).
For ordinary items, combine them into categories (i.e.,
clothing, furniture, etc.).
For items with special value, list them separately (i.e.,
antiques, coin\stamp collections, art, fine dishes\silverware).
Note: For Conservatorships, list the property the Protected
Individual owns with others, along with the type of ownership (i.e., joint
tenancy, tenancy in common, etc.).
For additional information, see the instructions contained
on the Inventory forms (PC 577 or PC 674).
How are assets on
an Inventory valued?
For all assets, use the fair market value as of the date of
death (for Decedent Estates) or the date the fiduciary received their
Letters of Authority (for Conservatorships and Guardianships of the Estate
for an Individual with Developmental Disabilities).
For real estate, use any of the following methods: (1) two
times the State Equalized Value (SEV), (2) a value based on a full
narrative appraisal by a licensed appraiser within one year of the date of
death, or (3) a sales price if the property was sold within one year of the
date of death.
If you use an appraisal for any item(s), include a copy of
the appraisal with the Inventory.
List the amount and type of any mortgage, lien, or
encumbrance on any particular asset.
Is there a fee for
filing an Inventory?
For Decedent Estates – Yes.
For Conservatorships and Guardianships of Estates of
Individuals with Developmental Disabilities – No.
Important Note #1: For decedents dying before March 28,
2013, no deduction is allowed for any mortgage, lien or encumbrance on any
Important Note #2:
For decedents dying on or after March 28, 2013, the inventory fee is based
on the value of the estate less any lien(s) on parcel(s) of real
estate. No parcel of real estate can
be valued at less than zero, and there is no carryover to other estate
Important Note #3: The inventory fee must be paid within one
year of the date the Personal Representative received their Letters of
Authority or the filing of a Sworn Statement to Close Administration or
Petition for Complete Estate Settlement, whichever is earlier.
The inventory fee for Decedent Estates is based on the value
of the property pursuant to a schedule according to Michigan law. To determine the fee, go to the Inventory
Fee Calculator on the Court’s website.
Note: There is a $5 inventory fee for an estate with a value of
Note: Fees can be paid by cash, check, or money order payable to
the Wayne County Probate Court. Payment can be made in person via MasterCard or Discover. No other credit cards, debit cards, or
out of state checks are accepted.
Who has to receive copies of an Inventory?
The interested persons for the particular type of case. See the initial petition filed in your
proceeding for more information.