What is an estate inventory?

An estate inventory is a record of all the assets belonging to a deceased person in the state of Washington. It is typically filed as part of the probate process, and must be approved by the court. The inventory includes all the assets of the deceased, such as cash, stocks, bonds, real estate, jewelry, and artwork. It also lists any debts, such as mortgages, credit card balances, and other loans. This information is important for several reasons. First, it determines the value of the estate, which is crucial for tax purposes and establishing the amount of inheritance that each beneficiary will receive. Second, the inventory helps ensure that the deceased’s wishes are honored, as the court can use it to verify that all assets are accounted for in accordance with their will or trust. Lastly, the inventory can reveal any hidden assets that may have been overlooked during the planning process.

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