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Notice regarding inventory

Information about Probate Court Inventory.

Important notice regarding inventory

    Documents must be typewritten, printed or legibly


    1. The legal description of real estate must be included on the inventory.  Street address or parcel number alone is NOT sufficient.
    2. To value real estate you may: a) double the SEV (State Equalized Value) and attach a copy of a tax bill for the Year of Death or Date of Qualification; or b) provide a written appraisal by a qualified appraiser showing value at date of death or date of qualification; or c) provide a seller’s statement showing sales price if sold within one year of the date of death.  For real property ONLY, if the date of death is on or after March 28, 2013, the gross value of the parcel can be reduced by any lien amount on that parcel; however, the remaining inventory value cannot be less than zero. 
    3. For closely held corporation stock, partnerships, sole proprietorships, etc., you must provide a written verification of the estate’s interest, such as the buy-sell agreement, stock quotes or other documentation to establish value.
    4. Appraisals for automobiles, furniture, and other personal property of value such as antiques, collectibles, etc. are now required.  Printed internet valuation is acceptable.  It is not necessary to itemize miscellaneous household items such as linens, house wares, clothes, etc. 
    5. In a conservatorship, property held by the ward alone or jointly with others must be shown on the inventory with a notation of the name of the co-owner(s).
    6. A copy of the financial institution’s statement as of the date of qualification of the conservator, or date of death in a decedent’s estate, must be provided for any liquid assets, such as bank accounts, brokerage accounts, etc.  Verification must be provided as to both number of stock shares held as well as price per share. 


    You must file all required documentation with the inventory or you will delay the processing of the estate.  If requesting copies or forms to be returned, you must provide a self-addressed, stamped envelope.

    State of Michigan inventory fee calculator

    The following web sites may assist you in determining value. 

    BONDS:  Savings Bond Calculator

    SEV:  access the city/township’s website 

    Kelly Blook Book or Edmunds OR TRUCK: TruckMax

    GUNS:  Guns America 

    VERIFY STOCK VALUES:  Big Charts or Market Watch


    Other available websites, links, forms, and information:

    State Bar Michigan - Probate Guardianship Resources