Quick Answer: Every California probate estate requires an Inventory and Appraisal (Form DE-160) listing everything the decedent owned. The executor appraises cash-type assets directly, bank accounts, money, and insurance or retirement proceeds paid to the estate in a lump sum, while a court-appointed probate referee appraises everything else, real estate, securities, and personal property. This split exists specifically to keep the process fair: the executor never sets the value on assets they might personally benefit from.
Getting the numbers right on this form matters more than most people realize. It sets the baseline for what each heir eventually receives, what the estate owes in fees, and whether a beneficiary later has grounds to challenge the executor’s handling of the estate.
How the Inventory and Appraisal Process Works
Once the court issues Letters Testamentary or Letters of Administration, the executor has four months to file the Inventory and Appraisal under Probate Code Section 8800. The form itself is split into two required attachments:
- Form DE-160: The cover sheet, filed with the court, summarizing the total appraised value from both attachments
- Form DE-161: The Inventory and Appraisal Attachment, where each individual asset is listed with a description and value
Both forms are available directly from the California Courts DE-160 form page. Only the executor and probate referee sign it, not the heirs, though heirs are entitled to review it once filed since it becomes part of the public court record.
Who Appraises What: Executor vs. Probate Referee
California splits appraisal responsibility between two people specifically to prevent the executor from having final say over the value of assets they might stand to inherit or manage.
| Asset Type | Who Appraises It | Listed On |
|---|---|---|
| Cash, currency, bank accounts | Executor | Attachment 1 |
| Life insurance and retirement proceeds paid to the estate | Executor | Attachment 1 |
| Real estate | Probate Referee | Attachment 2 |
| Stocks, bonds, and securities | Probate Referee | Attachment 2 |
| Vehicles, jewelry, and other personal property | Probate Referee | Attachment 2 |
For the details on how a referee is assigned, what they charge, and how to challenge a valuation you believe is wrong, see our full guide on what a California probate referee does.
What Happens If the Inventory Deadline Is Missed
Missing the four-month deadline isn’t just a paperwork slip. Under Probate Code Section 8800, any interested person, including an heir who feels the estate is moving too slowly, can petition the court to compel the executor to file, and in serious or repeated cases, ask the court to remove the executor entirely. Executors who need more time can ask the court for an extension before the deadline passes rather than simply letting it lapse.
Why Accuracy and Fairness Matter to Heirs
The appraised values on this form aren’t just a formality, they directly shape what happens next. Distributions, any inheritance-related tax calculations, and the executor’s final accounting to the court all trace back to these numbers. If an asset is undervalued or omitted, an heir’s eventual share shrinks along with it.
Heirs who believe an asset was appraised incorrectly, or left off the inventory altogether, aren’t without options. You can raise the issue directly with the executor, request a reappraisal through the court, or object during the executor’s periodic accounting. If the pattern looks like more than an honest mistake, deliberately low values, missing assets, or an executor who won’t explain the numbers, that can factor into a petition for removal for breach of fiduciary duty. Our guide to heirs’ rights during estate administration covers the removal process and accounting rights in more depth.
Need Cash Before the Inventory Process Wraps Up?
The inventory and appraisal is often just the beginning of a long administration timeline, and formal probate in California commonly runs 9 to 18 months from start to finish. If you’re an heir facing bills now and don’t want to wait on the court’s schedule, a probate cash advance lets you access a portion of your expected inheritance before the estate closes. It’s not a loan, there’s no monthly payment, and it’s repaid directly out of your share once distribution happens. Read more about how probate advances work to see if it fits your situation.
Frequently Asked Questions
Who decides which probate referee gets assigned to an estate?
Referees are assigned by the county on a rotating basis from a list appointed by the state Controller’s office, the executor doesn’t get to pick or request a specific referee.
Can an heir formally object to a specific value on the Inventory and Appraisal?
Yes. An heir who disputes a value can request the executor pursue a reappraisal, or raise the discrepancy when the executor files their accounting with the court, which gives interested parties a formal opportunity to object before the estate is closed.
Does real estate get reappraised again before it’s sold?
Often yes. If a probate sale happens more than a year after the original inventory, or the market has shifted materially, the court can require a new appraisal (sometimes called a reappraisal for sale) to make sure the sale price reflects current value.
Are retirement accounts always appraised by the referee?
Not always. Retirement plan proceeds paid to the estate as a lump sum go on Attachment 1 and are valued by the executor, but if the account passes to a named beneficiary outside probate entirely, it doesn’t appear on the Inventory and Appraisal at all.
What if I think the executor undervalued an asset on purpose?
Document the specific asset and your reasoning, then raise it directly with the executor or their attorney first. If that doesn’t resolve it, an interested person can petition the probate court, and a pattern of consistently low or missing values can support a petition to remove the executor for breach of fiduciary duty.
Whether you’re an executor trying to get the inventory right or an heir waiting on a fair valuation, understanding how the appraisal process works helps you know what to expect and when to push back. If probate is dragging on longer than you can afford to wait, ProbateLend can help bridge the gap with a straightforward cash advance against your inheritance.