What is an Inventory and Appraisement?

An Inventory and Appraisement is a critical document in any Texas divorce proceeding. It is a comprehensive, sworn list of all property — both community and separate — owned or claimed by each spouse, along with the estimated fair market value of each item. The Texas Family Code and the Texas Rules of Civil Procedure require each party to disclose this information during the discovery process.

The inventory typically includes real estate, vehicles, bank accounts, retirement accounts, investment portfolios, business interests, household furnishings, jewelry, and any other assets of value. It also lists all debts, including mortgages, credit card balances, student loans, medical bills, and other obligations. Each item must be classified as community property or the separate property of one spouse.

Accuracy and thoroughness are essential. Because the Inventory and Appraisement is a sworn document, any misrepresentation or omission can have serious consequences, including sanctions from the court or an adverse presumption about hidden assets. Both parties have a legal obligation to make a full and fair disclosure of the marital estate.

In practice, the Inventory and Appraisement serves as the starting point for settlement negotiations. By comparing each party's inventory, attorneys and mediators can identify points of agreement and dispute. When a case goes to trial, the court relies heavily on these documents to understand the full scope of the estate and make an informed division.

Preparing a thorough Inventory and Appraisement early in the divorce process is one of the most productive steps a party can take. It provides clarity about the financial landscape, helps identify assets that may require formal appraisal, and positions the case for a more efficient resolution.