What it asks for
The value column takes fair market value with nothing taken off for what is owed. A mortgage or lien goes in the encumbrance column beside it, and line 26 subtracts it.
| Part | What goes there |
|---|---|
| A, items 1–6 | Real property, with book and page if recorded and the nature of the interest |
| B, items 7–17 | Tangible personal property: vehicles, furniture, belongings |
| C, items 18–25 | Intangible personal property: bank accounts, investments, money owed to the individual |
| 26 | Gross value of real and personal property, less their encumbrances, gives the net value |
| 27 | Appraisers you hired, their addresses, and the items each appraised |
| 28 | The items you appraised yourself |
Attach extra sheets if the lines run out. No bank statements are required. EZ-File charges $7 for each filing, per maineprobate.net (opens in a new tab).
The statute asks you to swear or affirm that the inventory is complete. §5-420(1) (opens in a new tab)
Common mistakes
Values as of the filing date
Use the values on the day of your appointment, even if you file weeks later.
Full account numbers
For a bank account, give the bank, the last four digits and the type of account.
Appraisals left unnamed
Items 27 and 28 ask who valued each item: an appraiser you hired, or you.
Your first account
Item 1 of your first PP-407 (opens in a new tab) account takes its net values from line 26 of this inventory. That account goes with your yearly PP-412 report.
Sources
- PP-406, Inventory (opens in a new tab), Maine Probate Courts
- PP-407, Conservator Account (opens in a new tab), where the inventory’s figures go next
- 18-C M.R.S. §5-420 (opens in a new tab), when the inventory is due and who gets notice
- Maine Rules of Probate Procedure (opens in a new tab), Rule 92.3, electronic filing
Also for Maine: PP-412, Conservator's Report
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