Iowa Probate Report and Inventory: What Executors Must File and When

One of the earliest mandatory filings in an Iowa probate is the inventory. It's also one of the most consequential — because it determines how much the estate pays in court costs, and whether the executor is accurately representing the estate's assets under oath.

If you've been appointed as personal representative in Iowa, here's what the inventory requires, when it must be filed, and the costly mistakes to avoid.

What Is the Iowa Probate Inventory?

Under Iowa Code 633.361, the personal representative (executor) must file a verified inventory of the decedent's property with the Iowa District Court. "Verified" means signed under oath — false or incomplete inventories carry legal consequences for the executor personally.

The inventory must list:

• Real estate the decedent owned (solely owned or as tenant in common — not joint tenancy)
• Exempt personal property (certain household goods, tools, and property set aside for the surviving spouse or family)
• All other probate assets — bank accounts, investment accounts, business interests, vehicles, and other personal property that doesn't pass outside of probate

The inventory is a snapshot of what the estate owns as of the date of death. It is not a list of what the estate will eventually distribute — it's a legal accounting of the assets under court supervision.

The 90-Day Filing Deadline

The standard deadline under Iowa Code 633.361 is 90 days from the date the executor was formally qualified by the court (the date Letters of Appointment were issued). This is not 90 days from the date of death — it runs from the appointment date, which is typically a few weeks after death.

Legislative efforts in 2025 and 2026 (including House File 2532) have sought to extend this deadline to 120 days to give executors more time to locate complex assets like retirement accounts, safe deposit box contents, or out-of-state property. Whether that extension has been permanently codified into the Iowa Code depends on the status of that legislation. Confirm the current deadline with the local district court or a probate attorney when you receive your letters.

Even with a potential 120-day window, waiting until the last possible day creates unnecessary risk. Start the asset inventory immediately.

How Court Costs Are Calculated from the Inventory

This is where the inventory has direct financial consequences for the estate. Iowa's judicial branch calculates probate court costs based on the gross estate value listed in the inventory.

The rate is 0.2% — two-tenths of one percent — applied to gross probate assets. On a $150,000 probate estate, that's $300 in court costs. On a $400,000 probate estate, $800.

That may sound modest, but the calculation only applies to probate assets. The executor has a fiduciary duty to correctly exclude non-probate assets from the inventory — and getting this wrong in either direction has consequences.

Exclude from the inventory:

• Real estate held in joint tenancy with right of survivorship (it passes automatically to the surviving co-owner)
• Bank accounts or investment accounts with a payable-on-death (POD) or transfer-on-death (TOD) designation
• Life insurance policies with a named beneficiary (other than "the estate")
• Retirement accounts (IRA, 401k) with a named beneficiary
• Assets held in a living trust

Include in the inventory:

• Solely-owned bank accounts with no POD designation
• Real estate held solely in the decedent's name
• Solely-owned vehicles (transferred through the Iowa DOT process, but still inventoried)
• Personal property, business interests, and other assets without direct beneficiary designations

Incorrectly including non-probate assets inflates the gross estate figure, which inflates court costs. More seriously, including jointly-held assets or trust assets can create legal confusion about what the court actually has authority over.

Simplified vs. Regular Probate and How the Inventory Changes

Iowa has two probate tracks, and the inventory requirement applies to both.

Simplified administration (Iowa Code Chapter 635): Available when gross probate assets are $200,000 or less. This track reduces procedural friction and attorney fee complexity. The inventory is still required, but the overall process moves faster.

Regular administration: Required for estates over $200,000 in gross probate assets, or when the court determines simplified administration isn't appropriate. Full court supervision throughout, with the inventory serving as the cornerstone document.

Note: if the estate is small enough to use the small estate affidavit — personal property of $100,000 or less as of July 1, 2026, with no solely-owned real estate — no inventory is filed because no probate is opened. The affidavit process bypasses the court entirely.

What "Exempt Personal Property" Means in the Inventory

Iowa law sets aside certain personal property for the surviving spouse and dependent children before the general creditor claim process begins. Under Iowa Code 633.374, this exempt property is listed in the inventory but is not subject to general creditor claims — it's earmarked for family use.

This includes household furniture, appliances, and personal effects up to a statutory value limit, as well as vehicles up to a certain value designated for the surviving spouse. The exact exemption amounts and categories are set by Iowa statute and can shift with legislative updates.

Listing exempt property separately in the inventory is important. It preserves the surviving spouse's right to those assets even if the estate is insolvent.

Joint Tenancy Real Estate: A Common Inventory Error

The most frequent inventory mistake involves real estate held in joint tenancy. Joint tenancy property passes automatically to the surviving co-owner by operation of law — it is not a probate asset and does not go through the estate.

Executors sometimes list the family home in the inventory because the decedent lived there. If the home was held in joint tenancy with the surviving spouse, it should not appear in the inventory at all. Including it overstates the gross estate, inflates court costs, and creates potential legal ambiguity about the surviving spouse's title.

To transfer joint tenancy real estate in Iowa, the surviving co-owner typically files an Affidavit of Survivorship with the county recorder. That's a separate, simpler process — not part of probate.

Getting the inventory right protects you as executor from personal liability and keeps court costs accurate. The Iowa Survivor Benefits Navigator includes a step-by-step guide to the full Iowa probate process — from inventory filing through creditor claims, spousal allowances, and the Certificate of Acquittance needed to officially close the estate.

Iowa Probate Inventory Quick Reference

The 90-day deadline doesn't move for complexity. Start the asset audit now.

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