How to Complete the West Virginia Estate Appraisement and Inventory Form

When you are appointed as the executor or administrator of an estate in West Virginia, one of your most critical and time-sensitive duties is taking inventory. Before any inheritances can be paid out, the local government needs a complete snapshot of everything the deceased person owned at the exact moment they passed away.

This is accomplished through the Appraisement of the Estate form. Whether you are dealing with a small apartment in Fairmont or a large farm in Greenbrier County, the rules remain the same. This document is heavily scrutinized by the Fiduciary Supervisor's office. This guide breaks down how to classify assets, handle difficult appraisals, and meet your statutory deadlines.

The 90-Day Deadline and General Requirements

Under W. Va. Code § 44-1-14, the executor or administrator is required to complete and file the official appraisement forms within 90 days of qualifying for their position. The paperwork is not filed with a traditional court, but rather with the Office of the Fiduciary Supervisor in the county where the probate was opened (for example, the Marion County Fiduciary Supervisor, Fairmont or the Raleigh County Fiduciary Supervisor, Beckley).

The state uses two distinct documents: Form ET 6.01, West Virginia, State Tax Department, Appraisement of the Estate, and Form ET 6.02, West Virginia, State Tax Department, Nonprobate Inventory. You must file both parts, even if the deceased had no non-probate assets. These forms establish the baseline value of the estate for potential creditor claims and tax purposes.

Step-by-Step: Completing the Appraisement Form

Accuracy is paramount. You are signing these documents under oath. If you guess the value of an asset or purposely leave something out, you can face severe legal consequences.

Non-Probate vs. Probate Assets

The primary source of confusion for executors is knowing which asset goes on which form.

• Probate Assets (Form ET 6.01): These are assets owned solely by the deceased with no designated beneficiary. Examples include a checking account only in their name, a vehicle titled solely to them, or real estate they owned completely.
• Non-Probate Assets (Form ET 6.02): These are assets that automatically transfer to someone else upon death. Examples include life insurance policies with a named beneficiary, 401(k) accounts, and real estate owned as 'joint tenants with right of survivorship'.

Both types of assets must be reported to give the state a full picture, but only the probate assets are subject to the claims of the deceased's creditors.

How to Appraise Rural Real Estate in WV

West Virginia requires you to report the fair market value of real estate as of the exact date of death. For a standard home in Morgantown, you might rely on recent property tax tickets or a real estate agent's comparative market analysis (CMA). However, rural real estate, timberland, or properties with mineral rights are much more complex. For large tracts of land, it is highly recommended to hire a certified appraiser. If you undervalue mineral rights, the heirs could face steep capital gains taxes when they eventually sell the property.

Handling Cash Found in a Safe or Home

If you find physical cash in the deceased's home or a personal safe, it must be meticulously counted and reported on Form ET 6.01 under Schedule C (Bank Accounts and Cash). Never pocket this cash or distribute it to family members immediately. As the executor, you should deposit this physical cash into the official estate bank account. Hiding cash from the appraisement is illegal and constitutes a breach of your fiduciary duty.

Penalties for Missing the 90-Day Deadline

The 90-day deadline is strictly enforced. If you fail to file the Appraisement and Inventory, the Wood County Commission, Parkersburg (or your local commission) will issue a warning. Continued failure to comply can result in your immediate removal as executor. Furthermore, any interested party-such as a beneficiary who has not received their inheritance or a creditor waiting to be paid-can sue you personally for negligence.

Costs and Timeframes

Filing the appraisement forms themselves generally incurs a small recording fee at the Fiduciary Supervisor's office, usually under $50. However, the costs associated with preparing the form can be higher if you need professional help.

• Professional Appraisals: $300 to $1,000 for real estate or valuable antiques.
• Attorney Fees: Hiring a local probate lawyer from our directory to prepare and file the documents usually costs between $1,500 and $3,000, which can be paid out of the estate's funds, not your personal pocket.

Frequently Asked Questions (FAQ)