Section 473.233

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 23 May 1996, see footnote   

  473.233.  Inventory and appraisement — classification of property. — 1.  Within thirty days after letters are granted, unless a longer time is granted by the court, the personal representative shall make and return an inventory and appraisement, in one written instrument, of all of the property of the decedent, including exempt property, which comes to his possession or knowledge, a statement of all encumbrances, liens, and other charges on any item, and all other property possessed by decedent at the time of his death.  The property shall be classified therein as follows:

  (1)  Real property, with plat or survey description and the street address or approximate direction and distance from any city or town, and the popular name thereof, if any;

  (2)  Furniture, household goods, and wearing apparel, but no detailed appraisement or listing of the items thereof is required;

  (3)  Corporate stocks described by name, number of shares, class of stock;

  (4)  Mortgages, bonds, notes, and other written evidences of debt, together with interest due thereon, described by name of debtor, recording data, and other identification;

  (5)  Bank accounts, insurance policies payable to the personal representative, and money;

  (6)  All other personal property accurately identified, including a statement of the decedent's proportionate share in any partnership and of its net value as shown in the inventory required by section 473.220.  No detailed appraisement or listing of the assets of the partnership property is required in the inventory filed by the personal representative;

  (7)  All property possessed but not owned by the decedent at his death shall be listed in the inventory, but separately from other property, together with a statement as to the knowledge of the personal representative as to its ownership.

  2.  At any time when it appears necessary, the judge or clerk may authorize the personal representative to employ a qualified and disinterested appraiser to assist him in ascertaining the fair market value, as of the date of the decedent's death, of any asset the value of which may be subject to reasonable doubt.  Different persons may be employed to appraise different kinds of assets included in the estate.  The name and address of any appraiser shall be indicated on the inventory with the item or items he appraised.

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(L. 1955 p. 385 § 97, A.L. 1957 p. 829, A.L. 1959 S.B. 141, A.L. 1980 S.B. 637, A.L. 1981 S.B. 117, A.L. 1996 S.B. 494 merged with S.B. 869)

Effective 5-23-96 (S.B. 494); 8-28-96 (S.B. 869)