Arkansas's Form 17 estate inventory, explained

Arkansas probate runs through the circuit court's probate division, since probate merged into the circuit courts under Amendment 80. Form 17, Inventory of Decedent's Estate, is a sworn snapshot of what the decedent owned on the day of death. The form comes from Administrative Order No. 12, which supplies the caption and affidavit block the form prints only as a placeholder.

Filing the inventory is mandatory within two months after your appointment, unless all distributees, and the guardians of the estates of any incompetent distributees, have filed written waivers of inventory and the court finds no need for filing. Code Ann. § 28-49-110). A written demand from someone asserting a claim or interest will reinstate the duty.

Under Ark. Code Ann. § 28-49-110, a complete inventory of the property the decedent owned at death, with your appraisal of date-of-death fair market values, is generally due within two months after your appointment, unless all distributees have filed written waivers of inventory; confirm the exact due date and whether a waiver applies with your attorney.

The notice of appointment work runs in the same weeks. Under Ark. Code Ann. § 28-40-111, the notice of appointment generally must be published promptly after letters are granted, and copies typically must then be served on known unpaid creditors within one month after first publication. Each heir and devisee whose name and address are known generally must be served with a copy of the published notice within that same month. Confirm the publication and service dates with your attorney.

Form 17 opens with real estate, split into Homestead and Other real estate, then takes personal property in three subsections, Household Goods and Personal Effects, Other Tangible Personal Property, and Intangible Personal Property, under one combined subtotal. Values are your own appraisement of fair market value as of the date of death; no court-appointed appraiser is involved in the inventory itself (Ark. Code Ann. § 28-49-110(a)(1)).

Some parts only you can supply. Mark the homestead. Give real property its legal description, since a street address is not one. Put any mortgage or lien in the encumbrance column and reduce the Net Value to match. Leave off survivorship joint property and beneficiary-designated benefits unless they are payable to the estate. An asset found later goes on a supplemental inventory or into the next accounting.

Usually less than one attorney hour, and typically reimbursable by the estate. These are court-style documents, not court forms, and the estate's attorney reads the account before it is filed.