Real-world examples of executor duties: inventorying estate property

Let’s start with what this looks like in real life, not in a law textbook. Here are some real-world examples of executor duties: inventorying estate property that people run into all the time:

Think about an adult child named as executor for a parent who passed away in 2024. The parent owned a modest house, a car, a 401(k), some savings, and a small stash of jewelry. The executor’s inventory duties include walking through the house room by room, listing furniture and artwork, checking the glove box and trunk for car documents, pulling retirement account statements, and asking siblings if anyone knows where the old wedding ring set is.

Now imagine a different example of executor duties: inventorying estate property for someone who ran a small landscaping business. The executor has to identify and list not just personal items, but also mowers, trailers, contracts, outstanding invoices, and business bank accounts. They might need to talk to employees or customers to figure out what equipment belongs to the business and what was personally owned.

Another common situation: an executor in 2025 dealing with digital-heavy estates. The deceased owned cryptocurrency, online-only savings accounts, and a PayPal balance. The executor duties here include tracking down password managers, checking email for account alerts, and listing digital assets in the same formal inventory that covers the house and car.

These are all examples of executor duties: inventorying estate property in action. The details look different in each case, but the core idea is the same: identify, locate, value, and document everything that belongs to the estate.

Examples include physical property: homes, vehicles, and everyday items

When people think of estates, they often jump straight to the house. That’s fair, because real estate is usually the largest asset. But the best examples of executor duties: inventorying estate property go far beyond the front door.

For a home, the executor usually:

• Locates the deed and mortgage statements.
• Confirms ownership (sole, joint, or with a trust).
• Orders a professional appraisal if required by the probate court or for tax purposes.
• Notes any home equity loans or liens.

In practice, that might look like calling a local appraiser, pulling property tax records from the county website, and listing the property in the inventory as “Single-family residence at 123 Oak Street, Anytown, appraised at $420,000.”

Vehicles are another clear example of executor duties: inventorying estate property. The executor needs to:

• Gather titles and registration documents for cars, motorcycles, RVs, or boats.
• Check whether there are outstanding loans.
• Verify whether anyone else is on the title.

Imagine an executor who discovers two older cars in the garage and an unpaid car loan statement in the mail. They must list both vehicles, note the fair market value (often using sources like Kelley Blue Book), and record the loan balance as a separate liability.

Even everyday household items matter. Courts don’t expect a line item for every spoon, but they do expect reasonable grouping and valuation of furniture, electronics, and other personal property. For example:

• “Living room furniture and electronics, estimated resale value $2,000.”
• “Bedroom sets and mattresses, estimated resale value $1,500.”

The probate process and inventory expectations can vary by state, so it’s wise to check your state court’s website or guidance. Many state courts publish plain-language probate guides; for example, the U.S. Courts provide general information on federal courts, and most states link to their probate rules from their own .gov domains.

Financial assets: more examples of executor duties in inventorying estate property

Financial accounts are where a lot of executors feel intimidated. The good news: this part is usually paper-driven and very traceable.

Common examples of executor duties: inventorying estate property on the financial side include:

• Listing checking and savings accounts at every bank or credit union.
• Documenting CDs, brokerage accounts, and retirement accounts (401(k), IRA, etc.).
• Identifying life insurance policies and whether the estate is the beneficiary.
• Listing pensions or annuities that pay benefits to the estate.

A real example: an executor finds three bank statements in the mail from different institutions. The executor contacts each bank’s estate department, provides a death certificate, and requests date-of-death balances. Those balances go into the inventory, with account numbers partially masked for privacy.

Retirement accounts can be tricky. If the account names a living individual as beneficiary, that asset might pass outside probate and never appear on the formal probate inventory. On the other hand, if the estate is the beneficiary, or there is no valid beneficiary, the executor must list that account as part of the estate.

The IRS expects accurate reporting of estate values when estate tax applies. While most estates fall below the federal estate tax threshold, it’s still smart for executors to understand federal rules. The IRS provides detailed instructions and forms on its site, including Form 706 information at irs.gov.

Digital and modern assets: newer examples of executor duties

Estate law is slowly catching up to modern life, but executors are already dealing with 2024–2025 realities. Some of the best examples of executor duties: inventorying estate property now involve digital assets and online accounts.

Common digital asset examples include:

• Online-only bank accounts and investment platforms.
• PayPal, Venmo, Cash App, or similar payment balances.
• Cryptocurrency wallets and exchange accounts.
• Monetized social media or content accounts (YouTube, Twitch, Substack, etc.).
• Domain names and websites that generate ad or affiliate income.

Here’s a very 2025 example of executor duties: inventorying estate property. The deceased ran a popular YouTube channel and earned ad revenue each month. The executor must:

• Identify the Google AdSense account.
• Determine whether revenue continues after death.
• List the account and its value as an asset of the estate.

Cryptocurrency is another modern headache. If the deceased held Bitcoin or other crypto on an exchange, the executor can usually contact the platform with proof of authority. But if the crypto is in a private wallet, the executor may only be able to inventory it if they have the seed phrase or private keys. Without those, the asset might be effectively lost, even though it exists in theory.

Law schools and digital estate planning clinics increasingly publish guidance on handling digital assets. For instance, the University of Chicago Law School and similar institutions often host articles on digital estate planning on their .edu domains, which can be helpful background reading.

Debts and liabilities: the “other side” of inventorying

An accurate inventory is not just a list of what the person owned; it’s also a list of what they owed. Another example of executor duties: inventorying estate property is making a parallel list of debts and obligations.

This usually includes:

• Mortgages and home equity loans.
• Car loans and personal loans.
• Credit card balances.
• Medical bills and long-term care facility bills.
• Unpaid taxes.

Imagine an executor who finds a stack of medical bills from a hospital, plus a notice from the IRS about unpaid income taxes from the prior year. Those debts don’t get buried; they get listed in the estate’s inventory and later paid (if possible) before heirs receive distributions.

The inventory doesn’t decide who gets what. It simply paints a full financial picture so the court, creditors, tax agencies, and beneficiaries can see what the estate really looks like. The Consumer Financial Protection Bureau offers guidance for people handling a loved one’s finances, which can help executors understand their responsibilities when paying debts from an estate.

Step-by-step flow: how executors actually build the inventory

While every jurisdiction has its own forms, the practical workflow of executor duties is surprisingly similar, whether you’re in California, Texas, or New York.

First, the executor gathers documents. That often means checking:

• File cabinets and desk drawers.
• Email accounts for financial alerts and statements.
• Safe deposit boxes (with the bank’s help).
• Tax returns from the last few years to identify accounts, businesses, and charitable donations.

Next, the executor walks through the home and any other properties. This is where those real examples of executor duties: inventorying estate property come to life: opening closets, checking the garage, photographing valuables, and noting serial numbers for higher-value electronics or tools.

Then, the executor contacts institutions: banks, brokers, insurers, and sometimes employers. They ask for balances as of the date of death and confirm whether the asset belongs to the estate or passes directly to a named beneficiary.

Finally, the executor fills out the inventory form required by the probate court, attaches supporting documents if required, and files it by the deadline. Many states require this filing within a set number of days after appointment as executor, so it’s smart to look up your state probate court rules early.

Throughout this process, organized recordkeeping is part of the job. A simple spreadsheet or estate administration software can help track each asset, its value, and supporting documents. This makes it easier to answer questions from the court, the IRS, or frustrated family members.

Avoiding common mistakes when inventorying estate property

Learning from other people’s missteps can save you a lot of stress. Some of the best examples of executor duties: inventorying estate property come from seeing what went wrong in other estates.

Common pitfalls include:

• Overlooking digital or online-only accounts because there are no paper statements.
• Ignoring small retirement accounts from old jobs.
• Forgetting about safe deposit boxes.
• Failing to check for unclaimed property held by the state.

Many U.S. states maintain unclaimed property databases where forgotten bank accounts, paychecks, or refunds end up. Executors can search these databases (often through the state treasurer’s or comptroller’s .gov site) to see if the deceased had any funds waiting to be claimed.

Another mistake is guessing values instead of documenting them. While courts may allow reasonable estimates for everyday household items, they expect appraisals or solid market data for real estate, valuable jewelry, collectibles, and business interests. Getting those appraisals early makes everything else smoother.

If the estate is large or complex, or if there’s family conflict, executors often benefit from working with a probate attorney or accountant. Law schools, bar associations, and nonprofit legal aid organizations often publish guides or host clinics to help families navigate probate.

2024–2025 trends affecting executor inventory duties

Executor work is changing as our financial lives change. Several trends are shaping modern examples of executor duties: inventorying estate property:

• More digital assets: People now hold significant value in online accounts, from investment apps to crypto and creator platforms.
• Gig and freelance income: Executors must track down unpaid invoices, platform balances (like Uber, DoorDash, Etsy), and business tools.
• Remote administration: It’s increasingly common for executors to live in a different state than the deceased, relying on online records, local agents, and video calls for appraisals.
• Greater emphasis on documentation: Courts and tax authorities expect clearer, well-supported inventories, especially as estates become more complex.

These shifts don’t change the core job, but they do add layers. Modern executors need to think beyond paper bank statements and the family home. The best examples of executor duties: inventorying estate property in 2025 involve both the physical world and the digital one, often with professionals (appraisers, accountants, attorneys) helping with the trickier pieces.

FAQ: examples of executor duties when inventorying an estate

Q: What are some common examples of executor duties when inventorying estate property?
Some of the most common examples include listing the home and getting it appraised, identifying all bank and investment accounts, documenting vehicles and their titles, grouping and valuing household belongings, listing retirement accounts that belong to the estate, and identifying outstanding debts like mortgages, medical bills, and credit cards.

Q: Can you give an example of inventorying digital assets?
Yes. Suppose the deceased had a high-yield online savings account, a PayPal balance, and a small cryptocurrency wallet on an exchange. The executor would contact each platform with proof of death and authority, obtain the date-of-death balances, and list each account and its value in the estate inventory. If there is a private crypto wallet, the executor would list it only if they can access and confirm the holdings.

Q: Do executors have to list every small household item?
Usually not individually. Courts typically allow executors to group everyday items into categories like “household furniture,” “kitchenware,” or “clothing,” with a reasonable total value. High-value items like artwork, jewelry, or collectibles should be listed separately, often with an appraisal.

Q: What happens if the executor misses an asset in the inventory?
If an asset is discovered later, the executor may need to file an amended or supplemental inventory with the court. Honest mistakes can usually be corrected, but intentional hiding of assets can lead to legal consequences and removal as executor. Keeping detailed notes and double-checking records reduces the risk of missing something.

Q: Are there examples of executor duties that involve working with professionals?
Absolutely. Executors often hire real estate appraisers, jewelry or art appraisers, accountants to help with tax-related valuations, and attorneys to make sure the inventory meets court requirements. These professional fees are typically paid from the estate, not from the executor’s personal funds.

If you’re feeling overwhelmed, that’s normal. Inventorying an estate is a serious responsibility, but it’s also a process you can break into manageable steps. Use these real examples of executor duties: inventorying estate property as a roadmap, lean on professional help when needed, and remember that your job is to create an honest, well-documented snapshot of the estate so everything that follows is fair and transparent.