WAIVER OF INVENTORY AND APPRAISEMENT
August 10, 2010 § 3 Comments
[This information comes from the outline of a presentation made by Bob Williford to the Chancery Judges Spring Conference earlier this year. Used with his permission.]
- The goods and personal estate shall be inventoried unless the court or clerk “for good cause,” not require that it be filed. § 91-7-109, MCA.
- If appraisement is not required, an inventory pursuant to § 91-7-93, MCA, shall be made within 90 days of the issuance of Letters of Administration.
- If personal property not included in the original inventory comes into possession of the Administrator, a supplemental inventory describing those items shall be returned within 30 days. § 91-7-95, MCA.
- An Administrator who fails to file a timely inventory may be removed. §91-7-105, MCA.
- Inventory may be waived “for good cause” under § 91-7-109, MCA, or if the Executor is a residuary legatee under § 91-7-43, MCA.
- Although the statutes do not expressly provide that inventory can be waived by the Will of the testator, it is common practice for the court to recognize the request. Perhaps the “good cause” exception is broad enough to allow waiver of the requirement by the Will. § 91-7-109, MCA.