When someone dies in Louisiana, their estate often goes through probate a court-supervised process to settle debts and distribute assets. One of the first and most important tasks for the executor or administrator is filing an asset inventory with the court. This isn’t just paperwork; it’s a legal requirement that affects how smoothly the estate moves forward. Missing or misreporting assets can delay distributions, trigger disputes, or even lead to personal liability.

What exactly is a Louisiana probate asset inventory?

The asset inventory is a detailed list of everything the deceased person owned at the time of death that’s subject to probate. This includes real estate in Louisiana, bank accounts without payable-on-death (POD) designations, personal property like vehicles or jewelry, and business interests. It does not include assets that pass outside of probate like life insurance with a named beneficiary, retirement accounts with designated beneficiaries, or property held in a living trust.

The inventory must show each asset’s fair market value as of the date of death. For example, if the decedent owned a house in Baton Rouge, you’d need a recent appraisal or comparable sales data not just the tax assessor’s value. Similarly, a 2018 pickup truck might be listed at $12,000 based on Kelley Blue Book, not what the decedent paid for it years ago.

When do you need to file this inventory?

In most Louisiana successions (the state’s term for probate), the inventory must be filed within 90 days after the court appoints the executor or administrator. If you’re handling a small succession under Louisiana’s simplified procedures (for estates under $125,000 in net value), the rules are less strict but you may still need to submit a sworn description of assets. Timing matters: late filings can result in court penalties or objections from heirs.

Step-by-step: How to prepare and file the inventory correctly

  1. Identify all probate assets. Start by gathering deeds, bank statements, vehicle titles, stock certificates, and business records. Don’t assume something isn’t part of the estate review ownership carefully. Jointly owned property with rights of survivorship, for instance, usually bypasses probate.
  2. Determine accurate values. Use professional appraisals for real estate, collectibles, or business interests. For everyday items like furniture or electronics, reasonable estimates based on condition and market value are acceptable but be prepared to justify them.
  3. Classify assets properly. Louisiana law distinguishes between “separate” and “community” property, especially in marriages. Misclassifying can affect who inherits what. If the decedent was married, you’ll need to note which assets belong to the estate versus the surviving spouse’s share.
  4. Complete the judicial district’s required form. Each parish may have slight variations, but most use a standard inventory form that lists asset type, description, location, and value. Be specific: “192 Main St., New Orleans” is better than “house in New Orleans.”
  5. Swear to the inventory’s accuracy. The executor or administrator signs under oath before a notary. False statements can have legal consequences.
  6. File with the court and serve interested parties. Submit the original to the clerk of court in the parish where the decedent lived. You must also provide copies to heirs, legatees, and sometimes creditors, depending on the case.

If you’re unsure how to classify or value certain items, our guide on how to complete an asset inventory for Louisiana probate cases walks through common scenarios with real examples.

Common mistakes to avoid

  • Omitting digital assets. Email accounts, cryptocurrency wallets, and online payment accounts (like PayPal) are part of the estate if they don’t have transfer-on-death instructions.
  • Using outdated values. A home appraisal from five years ago won’t suffice. Values must reflect the date of death.
  • Confusing non-probate assets. Just because an asset is in the decedent’s name doesn’t mean it goes through probate. Check beneficiary designations and titling carefully.
  • Failing to update the inventory. If you discover new assets after filing, you must submit a supplemental inventory. Ignoring this can undermine the entire succession.

For more on distinguishing what belongs in the inventory, see our overview of Louisiana estate planning asset documentation guidelines, which explains how proper planning can simplify this step later.

What if the estate has debts or complex holdings?

If the decedent owned a small business, rental properties, or had significant debt, the inventory becomes more involved. You may need to list outstanding mortgages, liens, or partnership interests. In these cases, working with a Louisiana succession attorney early on can prevent errors that delay closing the estate. The court expects accuracy not perfection but major omissions raise red flags.

The step-by-step filing documents guide includes templates and parish-specific tips for handling complicated asset types during the inventory phase.

Next steps after filing the inventory

Once the inventory is filed and accepted, the court typically issues an order confirming the assets. From there, you can begin paying valid debts, filing tax returns (if needed), and preparing for distribution. Keep detailed records of every transaction you’ll need them for the final accounting.

If you’re acting as executor and feel overwhelmed, review the proper procedures for listing assets in Louisiana probate filings to ensure your approach aligns with local court expectations.

For official forms and deadlines, refer to the Louisiana Supreme Court’s form repository.

Before you file, double-check this short checklist:

  • All probate assets are identified and described clearly
  • Each asset has a date-of-death value supported by evidence
  • Non-probate assets (like POD accounts) are excluded
  • Community vs. separate property is correctly noted (if applicable)
  • Inventory is signed under oath and notarized
  • Copies are sent to all required parties

If anything on this list feels uncertain, it’s worth consulting a local probate professional. Getting the inventory right the first time saves time, money, and stress down the road.