The personal representative of an estate must procure from the person or persons to whom real property subjected to a homestead estate has descended a description of such property and must appraise the same at its value at the time of the death of the decedent. If necessary, the personal representative shall cause the boundaries thereof to be ascertained and marked in the personal representative’s presence by a competent surveyor. If the personal representative finds that it has been selected in such form as will materially diminish the value of any remaining part of the property, the personal representative may modify its boundaries so as to avoid such    injury if it can be done without material injury to the homestead property. Should the personal representative find that the property selected as a homestead exceeds in value any limitation in value fixed by law, the personal representative in like manner shall set off the homestead in such form as to exclude the excess unless the personal representative further finds that the property cannot be divided without material injury. The personal representative shall make a full report of all the personal representative’s findings in relation to the homestead and annex the same to the inventory.