Inventory And Schedules

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Inventory And Schedules is a commonly used form within Iowa. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Inventory And Schedules

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Inventory And Schedules:

• This form pertains to the State of Iowa

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about Iowa’s Form PMF 400 - Inventory And Schedules up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct Iowa form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some Iowa probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form PMF 400, take a break, and then review. Probate and estate settlement processes in IA are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form PMF 400 online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form PMF 400 witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Inventory And Schedules to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

👉 Find and Contact your Local Probate Court

👉 What is a Domicile Jurisdiction?

Sponsored by Atticus App

Need help with Iowa Probate?

Join all the other families who have trusted Atticus through probate, and experience the peace that comes from knowing you're taking the right steps, spending the least amount of money, and not wasting a single second.

Start for free

Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in Iowa.

5 reasons you should submit PMF 400 as quickly as possible:

1. The sooner you begin, the faster Iowa can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in Iowa. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of Iowa is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for Iowa probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local Iowa probate clerk or court for exact answers regarding Form PMF 400, and when in doubt— consult a qualified trust & estates lawyer for that area.

Inventory And Schedules is one of the many probate court forms available for download through Atticus.

It may also be available through some Iowa probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within Iowa.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form PMF 400 - Inventory And Schedules f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the Iowa probate court office.

Inventory And Schedules is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any Iowa-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on Iowa Form PMF 400 - Inventory And Schedules. You can use this to get an idea of the context of the form and what type of information is needed.

PMF 400 IN THE IOWA DISTRICT COURT FOR COUNTY IN THE MATTER ) ) Probate No. __________________ OF THE ESTATE OF ) ) REPORT AND INVENTORY , ) Deceased. ) The undersigned Personal Representative, whose post office address is , reports as follows: Name of Decedent Age Last Known Address Date of Death 1.The designated attorney is, whose address and telephone number is . 2 .Amount of gross estate for Federal Estate Tax purposes: $ Will a Federal Estate Tax Return be filed? __Yes __ No 3.The decedent died ___________. 4 .If testate, was a child born to or adopted by the decedent after execution of the Will? __ Yes __ No 5.Did the decedent leave a surviving spouse? __ Yes __ No 6.List (a) surviving spouse, if any; (b) beneficiaries under the decedent's Will; (c) heirs at law; (d) transferees; and (e) surviving joint tenants. Name Age Post Office Address Relationship to the Decedent PMF 400 Estate of ___________________________________ SCHEDULE A--REAL ESTATE (Jointly owned property must be disclosed on Schedule E) Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL. Enter in Recapitulation .................................................... SCHEDULE A PMF 400 Estate of ___________________________________ SCHEDULE B--STOCKS AND BONDS (Jointly owned property must be disclosed on Schedule E) Item Number Description Including Face Amount of Bonds or Number of Shares and Par Value Where Needed for Identification Unit Value Alternate Value Value at Date of Death TOTAL. Enter in Recapitulation .................................... SCHEDULE B PMF 400 Estate of ___________________________________ SCHEDULE C--MORTGAGES, NOTES AND CASH (Jointly owned property must be disclosed on Schedule E) Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL. Enter in Recapitulation SCHEDULE C PMF 400 Estate of ___________________________________ SCHEDULE D--INSURANCE ON THE DECEDENT'S LIFE Identify policy or contract, designated beneficiary, amount, and show value. Also identify each item as to whether it is includible or excludible in the estate subject to Iowa inheritance tax. Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL Less amounts excluded for Iowa Inheritance Tax Amount subject to Iowa Inheritance tax. Enter in Recapitulation SCHEDULE D PMF 400 Estate of ___________________________________ SCHEDULE E - JOINTLY OWNED PROPERTY WITH SURVIVING SPOUSE ONLY Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL of Schedule E AMOUNT INCLUDED (One-half). Enter on the recapitulation SCHEDULE E PMF 400 Esta te of ___________________________________ SCHEDULE E-1 - ALL OTHER JOINT INTERESTS (INCLUDING PROPERTY HELD WITH SURVIVING SPOUSE AND ONE OR MORE THIRD PARTIES) State the name and address of each surviving co-tenant. If there are more than 5 surviving co-tenants, list the additional co-tenants on an attached sheet. Name Address (Number and Street, City, State, and ZIP Code) Item No. Enter Letter for Co- Tenant Description (Include Alternate Valuation Date, If Any) Percentage Includible Includible Alternate Valuation Includible Value at Date of Death TOTAL of Schedule E-1. Enter on the Recapitulation SCHEDULE E-1 PMF 400 Estate of ___________________________________ SCHEDULE F--MISCELLANEOUS PROPERTY NOT REPORTABLE UNDER ANY OTHER SCHEDULE (Jointly owned property must be disclosed on Schedule E) 1. Did the decedent, at the time of death, own any articles of artistic or collectible value in excess of $3,000 or any collections whose artistic or collectible value combined at date of death exceeded $3,000? If Yes, full details must be submitted on this schedule Yes No 2. Has the decedent's estate, spouse, or any other person, received (or will receive) any bonus or award as a result of the decedent's employment or death? If Yes, full details must be submitted on this schedule 3. Did the decedent at the time of death have, or have access to, a safe deposit box? If Yes, state locations, and if held in joint names of the decedent and another, state name an d relationship of joint depositor. If any of the contents of the safe deposit box are omitted form the schedules in this return, explain fully why omitted. 4. Did the decedent, at the time of death, own any other miscellaneous property not reportable under any other schedule? If Yes, full details must be submitted on this schedule. Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL. Enter in Recapitulation ........................................................... SCHEDULE F-1 --MISCELLANEOUS PROPERTY EXEMPT FROM EXECUTION Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL. Enter in Recapitulation ..................................... SCHEDULE F PMF 400 Estate of ___________________________________ SCHEDULE G - TRANSFERS DURING THE DECEDENT'S LIFE THIS FORM NOT FOR USE WITH FEDERAL FORM 706. Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death A. List all gifts made within three years of death in excess of the gift tax exclusions allowable under I.R.C. Section 2503(b) and (e). Indicate the name and relationship of the donee, and date gifts were made. 1. B. List all transfers in which the decedent retained a life estate or interest, or which were to take effect in possession or enjoyment at death. List the date of the transfers, the description of the property transferred, the consideration, if any, the value of the property at death, or the alternate value if elected, a nd the name and relationship of the transferee. 1. TOTAL. Enter on the Recapitulation SCHEDULE H - POWERS OF APPOINTMENT Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death 1. TOTAL. Enter on the Recapitulation SCHEDULE G & H PMF 400 Estate of ___________________________________ SCHEDULE I - ANNUITIES List the full amount of each annuity payable as a result of the decedent's death. As part of the description of the annuity, identify the amount payable and the beneficiary of the annuity. If any annuity is payable from a qualified plan or IRA, identify the amount of each qualified plan or IRA excluded for Iowa inheritance tax purposes. Deduct the total of all exclusions where indicated. Item Number Description Alternate Valuation Date Alternate Value Value at Date of Death TOTAL Less amounts excluded for Iowa inheritance tax Amount subject to Iowa inheritance tax. Enter on the Recapitulation SCHEDULE I PMF 400 QUESTIONNAIRE AND RECAPITULATION Answer all questions ATTACH ONLY SCHEDULES APPLICABLE. If Schedule is not attached, state NONE. A. Did the decedent at time of death own any real estate not held in joint tenancy? If yes, complete Schedule A. H. Did the decedent possess a general power of appointment over any property, or did the decedent exercise or release a general power of appointment, within three years of death? If yes, complete Schedule H. B.Did decedent at time of death own any stocks or bonds not held in joint tenancy? If yes, complete Schedule B. I.Did the decedent own or have an interest in any annuities, supplementary or other income contracts, retirement benefits or pension funds? If yes, complete Schedule I. C. Did decedent at time of death own any mortgages, notes or cash not held in joint tenancy? If yes, complete Schedule C. SUBTOTAL GROSS ASSETS OF THE ESTATE listed in the probate inventory for determination of fees under Iowa Code §633.197 (equal to subtotal less value of property shown on Schedules G and H, and Schedule D assets not payable to the decedent’s estate) D. Is there any insurance on the life of decedent? If yes, complete Schedule D. TOTAL IOWA GROSS ESTATE for determination of court costs under Iowa Code §633.21(2)(k) (equal to subtotal less value of property shown on Schedules E, E-1, G, H and Schedule D and I assets not payable to the decedent’s estate) Less exclusions, if any (before exemptions and deductions) E. Did decedent at time of death own any property held in joint tenancy with spouse? If yes, complete Schedule E. SUBTOTAL NO. 2 Less Mortgages and estimated debts E-1. Did decedent at the time of death own any property held in joint tenancy with others? If yes, complete Schedule E-1. TOTAL F. Did decedent at time of death own any other property not shown on any other schedule? If yes, complete Schedule F. INFORMATION RESPONSIVE TO SECTIONS 633.361.9, .12 AND .13, THE CODE. F-1. If intestate or surviving spouse is taking elective share, did decedent at the time of death own any property exempt from execution? If yes, complete Schedule F-1. 1. Did the decedent die owning real estate located outside the State of Iowa not otherwise reported? If yes, attach Schedule showing extent of interest, legal description, and estimated value. G. Did the decedent make any gift within three years of death in excess of the gift tax exclusions allowable under I.R.C. Section 2503(b) and (e)? Did the decedent, prior to death, make any transfer where the decedent retained a life estate or interest, or which were to take effect in possession or enjoyment at death? If yes, complete Schedule G. 2. Is any other property required to be reported for federal estate tax or Iowa inheritance tax purposes which has not been reported on Schedules A through I? If yes, attach Schedule showing items and values. 3. Was any gift made by decedent that reduced the amount of the unified credit available for federal estate tax purposes? If yes, attach Schedule showing the description and value of the gift, date and amount of unified credit claimed. CERTIFICATION I certify under penalty of perjury and pursuant to the laws of the State of Iowa that the preceding is true and correct. Date Capacity or Title Signature Personal Representative Estate of , deceased. PMF 400 ISBA P706 Schedule Applicable to Small Estates Administered under Iowa Code Chapter 635 The gross value of the probate assets of decedent subject to Iowa jurisdiction is as follows: A. Gross value of Schedule A assets of the decedent subject to Iowa jurisdiction $ B.Gross value of Schedule B assets of the decedent subject to Iowa jurisdiction $ C.Gross value of Schedule C assets of the decedent subject to Iowa jurisdiction $ D.Gross value of Schedule D assets of the decedent subject to Iowa jurisdiction $ E.Gross value of Schedule E assets of the decedent subject to Iowa jurisdiction $ E- 1. Gross value of Schedule E-1 assets of the decedent subject to Iowa jurisdiction $ F.Gross value of Schedule F assets of the decedent subject to Iowa jurisdiction $ F- 1. Gross value of Schedule F-1 assets of the decedent subject to Iowa jurisdiction $ G.Gross value of Schedule G assets of the decedent subject to Iowa jurisdiction $ H.Gross value of Schedule H assets of the decedent subject to Iowa jurisdiction $ I. Gross value of Schedule I assets of the decedent subject to Iowa jurisdiction $ TOTAL gross value of the probate assets of the $ decedent subject to Iowa jurisdiction The gross value of the probate assets of the decedent subject to Iowa jurisdiction does not exceed $100,000.00. Thus, this estate constitutes a small estate under Iowa Code Chapter 6 35. PMF 400 CERTIFICATION I certify under penalty of perjury and pursuant to the laws of the State of Iowa that the preceding is true and correct. Date Capacity or Title Signature Personal Representative E state of , deceased. COMMENTS 1.This schedule should be attached to the questionnaire and recapitulation for small estates being administered under Iowa Code Chapter 635. 2.A decedent’s estate may be administered as a small estate if “the gross value of the probate assets of a decedent subject to the jurisdiction of this state does not exceed one hundred thousand dollars.” The phrase, “gross value of the probate assets of a decedent subject to the jurisdiction of this state,” appears nowhere else in the Code, and is not defined in the Code. 3.Assets listed on Schedule E, E-1, and G are never subject to Iowa jurisdiction. Therefore, the amount shown on the line for the gross value of Schedule E, E-1, and G assets of the decedent subject to Iowa jurisdiction should always be $0.00.