How to Prepare an Arkansas Probate Inventory Affidavit

Filing an Arkansas probate inventory affidavit can feel overwhelming when you’ve just lost a family member. You’re expected to gather every asset, assign values, and submit a sworn statement to the court often within strict deadlines. Getting this document right keeps the estate moving forward without extra hearings or personal liability. This article walks you through exactly what the affidavit requires and how to prepare it without guesswork.

What is an Arkansas probate inventory affidavit?

An Arkansas probate inventory affidavit is a sworn statement the personal representative (executor or administrator) files with the circuit court after being appointed. It lists all probate assets the decedent owned at the time of death, along with their fair market values. The document serves as the official starting point for the final accounting and inventory forms that track everything from initial values to distributions and expenses.

In many cases, the affidavit is filed together with the Inventory and Appraisement form. Arkansas law requires the personal representative to present a complete picture of the estate’s holdings so creditors, heirs, and the court can verify assets are properly managed.

When do you need to file it?

Usually, you must submit the probate inventory affidavit within 60 days after being appointed as personal representative. Small estates or those using a different streamlined procedure may have different timelines. If you’re handling an estate that qualifies as a small estate in Arkansas, you might be able to use simplified accounting forms for small estates instead of a full inventory affidavit. Always confirm the exact due date with the court order appointing you missing the deadline can trigger a show-cause hearing.

How do you actually prepare the affidavit?

Preparation breaks down into four main tasks: identifying probate assets, assigning fair market values, filling out the form accurately, and signing it under oath. Rushing through any one of these can cause delays later.

1. List every probate asset

Start by making a thorough list of everything the decedent owned in their name alone that doesn’t automatically transfer to a beneficiary. Common probate assets include:

Real estate in Arkansas (houses, land, mineral rights)
Bank accounts and certificates of deposit without a payable-on-death designation
Stocks, bonds, and brokerage accounts held solely in the decedent’s name
Vehicles, boats, and trailers titled only to the deceased
Business interests or LLC membership units
Personal property like jewelry, furniture, firearms, and collectibles

Assets that pass by beneficiary designation, joint tenancy with right of survivorship, or to a trust typically do not go on the probate inventory. If you’re not sure whether something belongs, review the instructions for heirs filling out the inventory form, which clarify which items are considered probate property under Arkansas law.

2. Determine fair market value as of date of death

Every asset must be listed at its fair market value on the day the person died. For real estate, that usually means getting a formal appraisal or a comparative market analysis from a licensed agent or appraiser. Bank accounts and investment accounts use the statement balance closest to the date of death. Vehicles can be valued using a recognized guide like Kelley Blue Book or NADA, adjusting for condition and mileage. For household items and personal effects, a reasonable estimation is acceptable unless a particular item has significant value then get an opinion from a dealer or appraiser.

Be consistent. The court can request backup documentation, so keep a file with bank statements, appraisal reports, and valuation notes. You’ll refer to these same numbers when you later compile complete probate accounting reports that track gains or losses on assets sold.

3. Fill out the Inventory and Appraisement form and affidavit

Arkansas courts usually provide a standard Inventory and Appraisement form. The affidavit section asks you to swear that the listed inventory is true, complete, and accurate to the best of your knowledge. Double-check these details before you write anything:

The full legal description of any real property (don’t guess copy it from the deed)
Vehicle identification numbers (VINs) and titles
Account numbers and institutions for financial assets
Separate listings for assets requiring an appraiser (if the court ordered one)

Many personal representatives find it helpful to attach a supplemental spreadsheet when a lot of small items exist. Number each line and match it to the affidavit’s summary. This extra step can make the judge’s review faster and reduce follow-up questions.

4. Sign before a notary or court clerk

The affidavit is not valid until you sign it under oath. You can do this in front of a notary public or at the probate clerk’s office. Bring your personal identification. Once signed and notarized, file the original with the court and keep a conformed copy for your records. Remember to send copies to all interested parties Arkansas rules generally require that heirs and known creditors receive notice when the inventory is filed.

Common mistakes that delay probate

Forgetting safe deposit box contents. If the decedent had a safe deposit box, you need to inventory it with a bank representative present and include those items.
Mixing real property descriptions. Using a tax assessor’s abbreviated description instead of the full legal description from the deed can cause title issues later.
Undervaluing or omitting assets. Even an honest mistake can look like an attempt to hide property. When in doubt, list the item and explain the value.
Using a current value instead of date-of-death value. Market changes after death don’t change the inventory figure only post-death capital gains might adjust in later accounting.
Missing the filing deadline. Courts rarely extend the 60-day window unless you show good cause in advance.

What if you need more guidance?

While many people handle straightforward estates without a lawyer, complex assets or disputes often call for professional help. If the estate includes a business, out-of-state real property, or contested valuations, consider consulting a probate attorney. The official form instructions are accessible through the Arkansas Judiciary website, which also has resources about filing fees and local court rules. Reading through those before you start can save you from simple formatting errors that clerks reject.

After you submit the inventory affidavit, your next responsibility typically involves the estate’s ongoing accounting. The court will expect periodic reports that reconcile the initial inventory values with what you actually receive, spend, and distribute. The details you set down in the affidavit become the baseline for every future financial report. Take the time to get them right, and you’ll spend far less time correcting mistakes down the road.

Quick pre-filing checklist

Confirm all probate assets are listed check deeds, titles, and statements.
Attach backup valuations: appraisals, broker statements, or Blue Book pages.
Use full legal descriptions for real estate and accurate VINs for vehicles.
Complete the affidavit section, swearing to accuracy.
Sign in front of a notary or court clerk.
File the original with the circuit clerk and distribute copies to heirs and known creditors.
Calendar the due date for the next final accounting form so you aren’t caught off guard later.