What is the term for the listing and valuation of a decedent's assets by a personal representative of the estate?

The term that describes the listing and valuation of a decedent's assets by a personal representative of the estate is "Inventory in Probate." This process involves compiling a detailed list of all the assets owned by the deceased, including real estate, personal belongings, financial accounts, and any other valuable items. The inventory also typically includes the valuation of these assets, which is crucial for determining the estate's total worth for taxation and distribution purposes.

During the probate process, the personal representative is responsible for ensuring that all assets are accounted for and valued accurately, as this information will be important for settling debts, paying taxes, and distributing the remaining assets to beneficiaries according to the deceased's will or state law. This distinct process differentiates it from other terms like assessment, appraisal, or estate evaluation, which may relate to similar activities but do not specifically refer to the formal procedure within probate.