What is included in the inventory prepared by a personal representative?

The inventory prepared by a personal representative is a comprehensive document that includes detailed information about the assets of the estate. This inventory serves multiple purposes, such as identifying the property that is part of the estate and providing a basis for evaluating its value for the purposes of distribution and legal compliance.

Including details of the property along with its fair market value is essential because it offers a transparent overview of what the estate consists of, enabling the personal representative to manage the estate effectively. This information is critical not just for the personal representative's administration of the estate but also for informing beneficiaries and any involved parties about the estate’s financial standing.

In contrast, focusing solely on the total value of the estate, names of all heirs, or just community property does not fulfill the comprehensive requirement of an estate inventory. While those aspects might be components of the larger estate administration process, they do not encompass the breadth of information required in the inventory, which is crucial for an accurate and constructive overview of the estate's entirety.