An estate inventory (boedelbeschrijving) is an overview of all assets and debts of an estate on the date of death: bank balances, the property, household effects, investments, and outstanding claims on one hand — and mortgages, loans, unpaid invoices, and funeral costs on the other. The estate inventory is mandatory when one or more heirs have accepted the inheritance under benefit of inventory (beneficiair aanvaard): the estate must then be settled according to legal rules, and the overview shows creditors and co-heirs what the estate contains. Even without this obligation, compiling an estate inventory is highly recommended — it forms the basis for the distribution of the estate as well as the inheritance tax return. This guide explains what must be included, who prepares it, and where it must be filed.
What exactly is an estate inventory?
It is an inventory of the estate as of the date of death. All assets are listed and valued: balances of bank and savings accounts, the property (offset against the outstanding mortgage debt), vehicles, household effects and valuables, investments, business assets, and claims on others. This is offset by the debts of the estate, which also include funeral costs and any tax liabilities. The net balance determines whether the inheritance is positive or negative — which is precisely why this overview is critical in the case of an acceptance under benefit of inventory.
When is an estate inventory mandatory?
The law mandates an estate inventory as soon as an inheritance is accepted under benefit of inventory — meaning acceptance under the privilege of an inventory, whereby heirs are not personally liable for the debts of the estate with their private assets. The heirs (acting as liquidators) must prepare the overview and make it available for inspection, either at the court registry or at a civil-law notary, so that creditors can consult it. If, during the liquidation process, it becomes apparent that the debts exceed the assets, this must be reported to the subdistrict court (kantonrechter) as soon as possible. You can read how acceptance under benefit of inventory works in our guide on accepting or rejecting an inheritance.
Who prepares the estate inventory?
Usually, the heirs or the executor prepare it themselves as a private deed — a clear document listing all items, their value per item, and the reference date is sufficient in most cases. In some situations, a notarial estate inventory is required or advisable, for example, if the heirs disagree, if not everyone has free access to the necessary information, or if the law prescribes it for that specific situation. If an executor has been appointed, preparing the estate inventory is one of their primary duties.
What do you include in an estate inventory?
Work by category and record the value of each item on the date of death. This includes: balances per bank account (request the day statements as of the date of death), the WOZ value (municipal property valuation) or market value of the property along with the remaining mortgage debt, vehicles with license plate details, household effects — with valuable items listed separately — jewelry and collections, investment portfolios, and claims such as tax refunds. Debts include the mortgage, personal loans, outstanding invoices, funeral costs, and taxes due. Also include ongoing matters of financial value or cost, such as a business or a rented property.
Why is the estate inventory also important for tax purposes?
The inheritance tax return is based on the same inventory: the net value of the estate determines how much inheritance tax each beneficiary pays above their personal tax-free allowance. A meticulous estate inventory prevents disputes with the tax authorities as well as among the heirs themselves. How allowances and tax rates work can be found in our overview of inheritance law.
Frequently asked questions about the estate inventory
Is a notary mandatory for an estate inventory?
No, usually not — a private estate inventory is sufficient for most estates. A notarial deed may be required in the event of disputes or specific legal circumstances.
Which value should you use: purchase value or current market value?
The value on the date of death (reference date). For real estate, the WOZ value is commonly used for inheritance tax purposes.
What happens if the debts turn out to be greater than the assets?
In the case of acceptance under benefit of inventory, you must report this to the subdistrict court as soon as possible. Heirs who have accepted under benefit of inventory are not liable with their private assets.
Must every heir have access to the estate inventory?
Yes. The overview is specifically intended to provide all parties involved — both heirs and creditors — with the same clear picture of the estate.
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