Estate Inventory Affidavit Guide for Texas Executors

When someone dies in Texas and leaves behind an estate, the person named as executor has a long list of legal responsibilities. One of the most important and most misunderstood is filing an estate inventory and affidavit with the probate court. If you skip this step or do it wrong, you could face court sanctions, removal as executor, or personal liability. Getting the estate inventory affidavit right protects you, the beneficiaries, and the estate itself.

What Is an Estate Inventory Affidavit?

An estate inventory affidavit is a sworn legal document filed with the Texas probate court that lists all assets owned by the deceased person at the time of their death. It is signed under oath by the executor (also called the independent administrator or personal representative) and notarized.

Under the Texas Estates Code, the inventory must include a detailed description and fair market value of each asset as of the date of death. This includes real property, bank accounts, investment accounts, vehicles, personal belongings, business interests, and any debts owed to the estate.

The affidavit portion is what makes the document legally binding. By signing it, the executor swears that the inventory is complete and accurate to the best of their knowledge. Filing a false affidavit even accidentally can lead to serious legal consequences.

When Does a Texas Executor Need to File This?

Texas law generally requires the executor to file the inventory and affidavit within 90 days after qualifying as executor. That 90-day clock starts when the court officially appoints you not when the person dies, and not when probate is first opened.

However, there are some exceptions:

Independent administration: If the will names you as an independent executor, you still need to file the inventory unless all beneficiaries waive their right to receive it. Even then, the court can require it.
Waivers from beneficiaries: In some independent administrations, all distributees can sign a written waiver agreeing that no inventory needs to be filed. But this waiver must be signed by every person who would inherit.
Dependent administration: If you are serving as a dependent administrator, the inventory is mandatory with no exceptions.

The key point: even when a waiver is possible, many executor duties around the estate inventory still apply. You should never assume you can skip this step without confirming with the probate court.

What Goes Into the Inventory?

The inventory must be thorough. Texas courts expect a complete picture of the decedent's estate. Here's what you typically need to list:

Real property: Homes, land, rental properties listed with address, legal description, and estimated market value at the date of death.
Bank accounts: Checking, savings, CDs, money market accounts with institution name and balance on the date of death.
Investment accounts: Brokerage accounts, stocks, bonds, mutual funds, retirement accounts (401k, IRA) if they are part of the probate estate.
Personal property: Vehicles, jewelry, art, furniture, electronics, collectibles anything of value.
Business interests: Ownership in LLCs, partnerships, sole proprietorships, or closely held corporations.
Debts owed to the estate: If anyone owed the deceased money, that must be listed as an asset.
Life insurance or death benefits: Only if payable to the estate, not if they have a named beneficiary.

For larger or more complex estates, using the proper forms for larger estates can save you significant time and reduce the chance of errors.

How Do You Determine Fair Market Value?

Every asset in the inventory must be listed at its fair market value on the date of death not the purchase price, not the tax-assessed value, and not what you think it might sell for months later.

For common assets, here's how valuation usually works:

Bank accounts: Get the balance as of the date of death from the bank. This is straightforward.
Real estate: A formal appraisal is the strongest approach. At minimum, use comparable sales data from a real estate agent. Tax-assessed values are often too low and may not hold up in court.
Vehicles: Use NADA or Kelley Blue Book values for the date of death.
Investments: Use closing prices from the date of death from the brokerage firm.
Personal property: For items of significant value (jewelry, art, antiques), consider hiring an appraiser. For everyday household items, a reasonable estimate is usually acceptable.

Keep documentation for every valuation. If a beneficiary or the court questions a number, you want to be able to show how you arrived at it.

What Happens After You File?

Once you file the estate inventory with the probate court, the judge reviews it. In most independent administrations, there is no formal hearing the court simply receives and files the document. In dependent administrations, the court may scrutinize it more closely.

After filing, beneficiaries and other interested parties have the right to review the inventory. If someone believes the inventory is incomplete or inaccurate, they can file a motion to compel a more complete inventory or challenge specific valuations.

The inventory also serves as a baseline for the executor's accounting. When you eventually close the estate, the court and beneficiaries will compare what was in the inventory to what was distributed. Any unexplained discrepancies can lead to problems.

Common Mistakes Executors Make

Having worked with many Texas executors, here are the errors that come up most often:

Missing the 90-day deadline: Life gets complicated after a death, and many executors don't realize how quickly this deadline approaches. Mark it on your calendar the day you're appointed.
Forgetting assets: Small accounts, safe deposit boxes, digital assets (cryptocurrency, online payment accounts), and property in other states frequently get overlooked.
Using wrong values: Listing the tax-assessed value instead of fair market value for real estate is one of the most common errors and it can make the executor look careless or dishonest.
Not including debts owed to the estate: If someone borrowed money from the deceased, that's an asset and must be listed.
Listing exempt property incorrectly: Certain property is exempt from creditor claims under Texas law (homestead, personal property up to certain limits). This is important for understanding how the affidavit affects your duties, but you still need to list exempt property in the inventory.
Filing without notarization: The affidavit must be notarized. A filing without proper notarization may be rejected by the court.

Do You Need a Lawyer to Prepare the Affidavit?

Technically, no. Texas law does not require you to hire a lawyer to prepare and file the estate inventory affidavit. But practically, it is one of the most common areas where executors make costly mistakes.

A probate attorney can help you:

Identify all assets that need to be listed
Determine proper valuations
Use the correct court forms for your county
Meet filing deadlines
Handle objections from beneficiaries

If the estate has real property, business interests, or significant assets, the cost of hiring an attorney is almost always worth it. For very small, simple estates with cooperative beneficiaries, some executors handle it successfully on their own using the court-required forms and guidelines.

What If You Discover New Assets After Filing?

This happens more often than you'd think. An executor files the inventory, then finds a forgotten bank account or discovers the deceased owned cryptocurrency they never mentioned.

Texas law allows you to file an amended or supplemental inventory. You should do this as soon as you discover the new asset. Waiting or hiding it even unintentionally can create legal liability. File the supplement, get it notarized, and submit it to the same probate court.

Practical Checklist for Texas Executors

Use this checklist to make sure you're on track:

Note your appointment date and calculate your 90-day filing deadline immediately.
Gather account statements from all financial institutions as of the date of death.
Inventory all real property and get appraisals or comparable market analyses.
List all personal property of value don't forget vehicles, jewelry, and digital assets.
Check for business interests and debts owed to the estate.
Determine fair market value for every asset using the date of death.
Prepare the inventory using the correct form for your county.
Sign the affidavit before a notary do not skip this step.
File with the probate court before the 90-day deadline.
Keep copies of everything for your records and for the final accounting.

If you're unsure about any step, consult with a Texas probate attorney before filing. The small cost of a legal review is far less than the cost of fixing a mistake after the fact.