Probate can feel like a daunting journey, full of legal jargon and what seems like an endless list of to-dos. But let’s reframe it: you’re leading a scavenger hunt—except instead of finding hidden treasure, you’re documenting everything from bank accounts to that lamp that hasn’t worked since the ’70s.

The catch? You’ve got 90 days to complete your list, and the judge is keeping score. Don’t panic—this guide will show you exactly what to hunt for (and what to leave on the shelf).

This guide is meant to be a light hearted approach to explain this serious task in your fiduciary role as personal representative.

THE GAME RULES AT A GLANCE:

• Time Limit: 90 days from your appointment
• Your Mission: List all probate assets with date-of-death values
• The Prize: Court approval, happy heirs, and zero personal liability
• Penalty for Losing: Court sanctions, legal fees, and family drama

Ready? Let’s hunt.

The Great Scavenger Hunt: Your First Big Quest

As Arizona’s Personal Representative (PR), you’re the lead detective on this case—with a ticking clock. Arizona law (A.R.S. § 14-3706) gives you 90 days to inventory all probate assets and their values as of the date of death. Miss that deadline? Court sanctions and potential personal liability. (Not the kind of plot twist anyone wants.)

Your mission is to list all probate assets and their estimated value as of the date of death. This “snapshot” is officially called the inventory and serves several crucial legal purposes: it creates an official court record of the estate’s assets, shows heirs what they might eventually receive, establishes a starting point for estate accounting, and fulfills your fiduciary duty as the PR.

Warning: Incomplete or inaccurate inventories can expose you to personal liability and delay the entire probate process. When in doubt, contact your legal team immediately.

The Rules of the Game: What to Hunt For and What to Ignore

Just like any good scavenger hunt, there are rules. You need to know what to include and, more importantly, what to leave out.

The “In-List”: What to Include

This is where you put on your explorer hat and start digging. The list of items to include in your inventory is broad:

• Bank Accounts: Every checking, savings, and money market account in the decedent’s name only. Yes, even that account with $23.47 they forgot existed. Include the estate account balance and note where the money came from originally.
• Vehicles: Year, make, model, VIN, and Kelley Blue Book value for all cars, trucks, or other vehicles
• Real Property: Obtain a Comparative Market Analysis (CMA) from a realtor or closing statement if already sold. Risk Alert: Property valuations can significantly impact estate taxes—consult your CPA about whether a formal appraisal is needed
• Personal Property: This is where things get interesting. List big-ticket items individually if they’re worth over $250 (jewelry, electronics, that gun collection). Lump the smaller stuff by category—”kitchen items: $300″ beats listing every spatula. Planning to donate or toss items? Take photos first. Trust us on this one.
• Other Assets: Cash, stocks, business interests, collectibles, or any other probate asset.
• Special Assets: Some items require special handling. Firearms may trigger transfer rules. Business interests may require review of shareholder or buy-sell agreements. Digital assets (like email, online accounts, or cryptocurrency) may need special procedures for access. Flag these immediately for your legal team.

Important: Give family members fair opportunity to collect belongings before disposal. Failure to do so can create legal complications.

The “No-Fly Zone”: What to Exclude

Critical Rule: Only list probate assets—those without joint owners or named beneficiaries. This is the #1 rookie mistake, and it gums up everything faster than you can say “revocable trust.”

Exclude these items:

• Life insurance with named beneficiaries
• Retirement accounts with named beneficiaries
• Jointly owned property (such as homes held with spouses)
• Payable-on-Death (POD) or Transfer-on-Death (TOD) accounts
• Any assets that transfer automatically to someone else

Pro Tip:

When in doubt, ask yourself: “Does this automatically go to someone else?” If yes, leave it off your list. If you’re still not sure, text your attorney. That’s what they’re there for.

Your Essential Action Checklist

Immediate Steps (Within 30 days of appointment):

• Research inventory requirements (you’re doing it right now—gold star!)
• Secure and photograph all personal property (yes, even the weird stuff)
• Obtain 3-6 months of bank statements before closing accounts
• Order death certificates (get at least 10—everyone wants one)
• Start a tracking spreadsheet (Excel, Google Sheets, or even paper—we don’t judge)

Ongoing Tasks (Complete within 90 days):

• Obtain property valuations (CMA or appraisal)
• Get vehicle valuations via Kelley Blue Book
• Document and photograph valuable personal items
• Watch for new assets (refund checks, dividends, correspondence from financial institutions)
• Maintain detailed records of all distributions or disposals

Final Steps:

• Draft the inventory to file with the Court
• Print final version single-sided, sign in blue ink before notary
• Email to your attorney

What Happens When the Hunt is Over

Once you’ve completed your draft inventory, send it to your legal team for review. They’ll help finalize it and provide execution instructions. In Arizona, the inventory must be properly notarized and filed with the probate court.

Special Note: If you’re both the sole heir and Personal Representative, you may waive the formal inventory requirement. However, your legal team still needs a complete asset list to represent the estate properly, prepare for sales or transfers, and provide accurate information to banks, title companies, and tax professionals.

Managing Risks and Complications

Common Pitfalls to Avoid:

• Missing the 90-day deadline (can result in court sanctions)
• Undervaluing assets (potential breach of fiduciary duty)
• Including non-probate assets (creates confusion and delays)
• Failing to update inventory when new assets are discovered
• Poor documentation of asset distributions

When to Contact Your Legal Team Immediately:

• You discover significant assets not previously known
• Family disputes arise over asset valuations or distributions
• You’re unsure whether an asset is probate or non-probate
• The 90-day deadline is approaching and the inventory isn’t complete
• You receive unexpected claims against the estate

PLOT TWISTS: When Your Scavenger Hunt Gets Complicated

The Mystery Asset:

Six months in, you discover a storage unit full of vintage comic books. File a supplemental inventory. Arizona law expects this.

The Family Feud:

Sister thinks Mom’s ring is worth $10,000. You got it appraised at $800. Document everything. Get it in writing. Keep your attorney in the loop.

The Ticking Clock:

Day 85 and you’re still waiting on that property appraisal? Call your attorney immediately. Extensions exist, but you have to ask before the deadline passes.

Why Accuracy Matters

Your inventory isn’t just paperwork—it’s the foundation for the entire probate process. It affects:

• Heirs and Beneficiaries: Their expectations of what they may inherit
• Creditors: Their ability to assess the estate’s capacity to pay claims
• The Court: Its confidence that you are fulfilling your fiduciary duties as PR

Keeping detailed records (valuations, appraisals, bank statements, and photos) protects you from disputes and shows you’ve acted diligently.

Your Next Steps

• Today: Contact our office to schedule your inventory consultation and receive your customized asset tracking spreadsheet.
• This Week: Begin gathering financial statements and identifying all potential estate assets.
• Within 30 Days: Complete your draft inventory and submit for legal review.

Remember, this process doesn’t have to be perfect on the first try. If you discover additional assets later, you can file supplements or amendments. However, it’s far better to be thorough initially than to deal with complications later.

Final Words of Reassurance

You’re not expected to have all the answers. Your role is to gather and disclose; your legal team helps with valuations, filings, and resolving disputes. No one completes this process perfectly on the first try, and Arizona law allows for updates when needed.

The most important thing is maintaining open communication with your legal team throughout the process. We’re here to guide you through every step and ensure you meet all legal requirements while protecting yourself from potential liability.

Questions? Don’t wait—contact Rahnema Law immediately at [phone number] or schedule your consultation online. In probate matters, time is literally of the essence, and we’re here to make sure you stay on track.

Happy hunting! And remember: you’re not supposed to know all this stuff—that’s why we went to law school. When in doubt (or even when you’re pretty sure), give us a call. We’d rather answer a “dumb question” at the beginning than untangle a mess at the end.

Now go find those assets. The clock is ticking, but you’ve got this.

Legal Disclaimer: This information is for educational purposes only and does not constitute legal advice. Arizona probate law is complex and varies based on individual circumstances. Always consult with a qualified probate attorney for guidance specific to your situation.