If you’re handling a probate case in Colorado and have been appointed personal representative, you’ll need to file an asset inventory. The Colorado probate asset inventory form requirements aren’t optional they’re a legal step required by the court to ensure transparency, fair distribution, and proper tax reporting. Skipping or rushing this step can delay the entire case, trigger objections from heirs, or even lead to personal liability.

What exactly is the Colorado probate asset inventory form?

It’s a court-required document listing all assets owned solely by the deceased person at the time of death along with their approximate fair market value as of that date. This includes real estate, bank accounts, vehicles, investments, business interests, and personal property like jewelry or furniture. It does not include jointly held assets with rights of survivorship or accounts with designated beneficiaries (like IRAs or life insurance), since those pass outside probate.

When do you need to file it and how soon?

You must file the inventory within 60 days after being officially appointed as personal representative by the court. That deadline is strict. If you miss it, the court may issue a notice to show cause or require you to explain the delay in writing. You can request an extension, but only before the 60-day window closes and only for good reason (e.g., waiting for a property appraisal or locating missing account statements).

What information must be included on the form?

The Colorado Judicial Branch provides standard forms, including JDF 999 (Inventory and Appraisement). Each asset needs:

  • A clear description (e.g., “2018 Toyota Camry, VIN ending in 7X92F”)
  • The date of death value (not what you think it’s worth today)
  • How title is held (e.g., “sole ownership,” “tenancy in common with spouse”)
  • Any liens or debts secured by the asset (e.g., mortgage balance on a house)

For real estate, you’ll need supporting documentation like a recent appraisal or county assessor’s valuation details covered in our guide on probate documentation for real estate. For personal property, a reasonable estimate based on condition and comparable sales is acceptable more detail is available in our page about how to list personal property.

Common mistakes people make

People often forget to list digital assets (like cryptocurrency wallets or domain names) or undervalue collectibles and antiques. Others mix up probate and non-probate assets listing payable-on-death accounts or trust-held property that doesn’t belong in the inventory. Another frequent error: using replacement cost instead of fair market value. A used sofa isn’t worth its original retail price. Also, don’t guess values use bank statements, appraisals, or public records. If you’re unsure, note “value pending appraisal” and follow up promptly.

Where do you file it and who sees it?

You file the completed inventory with the probate court in the county where the decedent lived. A copy must also be mailed to all interested parties typically heirs, beneficiaries named in the will, and creditors who’ve filed claims. The inventory becomes part of the public court record, so avoid including sensitive data like full Social Security numbers or account passwords.

What happens after you file?

The court doesn’t approve or reject the inventory outright but it does review it for completeness. Interested parties have 30 days to object if they believe assets are missing, misvalued, or improperly classified. If someone objects, you’ll need to respond with evidence (e.g., a second appraisal or title documents). You can amend the inventory later if new assets surface or values change significantly, but always file an amended version not just a note.

If you’re just getting started, walk through each phase in our step-by-step overview of the Colorado estate inventory process. And if you’re working directly on your filing right now, refer to our practical tips for completing the asset inventory in your Colorado probate case.

Next step: Gather statements, deeds, titles, and appraisals for all solely owned assets. List them using JDF 999, assign realistic date-of-death values, and double-check that nothing non-probate slipped in. File it with the court and mail copies before day 60.