What goes into a Texas Inventory, Appraisement, and List of Claims?
Every known estate asset, including all personal property regardless of where it sits, listed at fair market value as of the date of death and identified as community or separate property. It must be verified and filed with the court clerk before the 91st day after the representative qualifies, and once approved it becomes the official inventory of the estate for all purposes under Estates Code § 309.051.
Is a professional appraisal mandatory for every Texas estate?
No. The personal representative may self-value routine assets using account statements or published pricing guides, and formal appraisals become more common in dependent administrations or where the court appoints appraisers. Art, antiques, high-value collectibles, and closely held business interests are the categories where professional valuation is usually needed.
What is the Texas Small Estate Affidavit threshold?
$75,000, excluding the homestead and exempt property. Qualifying estates can use the streamlined affidavit procedure and generally avoid formal appraisal requirements, though families often still value significant personal property informally to divide it fairly.
Can the 90-day inventory deadline move in Texas?
Yes, in both directions. The court may extend the filing period or, for good cause, order an earlier filing. When the court does appoint appraisers, Texas names one to three disinterested residents of the county, and each is entitled to a statutory per diem of at least $5 paid from the estate, a vintage but still-codified rule.