Schedule of Assets
The Schedule of Assets is a listing of all your assets and liabilities. It is a document that we compile for our clients along with each and every will and LPA that we do.
The Court needs it
When an estate is about the commence administration, the Court will require a Schedule of Assets compiled based on the current status of the deceased's estate. This should include details such as bank account numbers, insurance policy numbers, property addresses and also, most importantly, the estimated value of each of these assets.
Handling of Assets
The main function of a will is handling the estate of the deceased. There are a few steps to this:
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Settlement of outstanding debts and liabilities
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Division of remaining assets to beneficiaries
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Instructions for certain vulnerable beneficiaries with regard to management of inheritance by trustee
Alternative Scenarios
The main function of a will is handling the estate of the deceased. There are a few steps to this:
​​
-
Settlement of outstanding debts and liabilities
-
Division of remaining assets to beneficiaries
-
Instructions for certain vulnerable beneficiaries with regard to management of inheritance by trustee
Schedule of Assets
The main function of a will is handling the estate of the deceased. There are a few steps to this:
​​
-
Settlement of outstanding debts and liabilities
-
Division of remaining assets to beneficiaries
-
Instructions for certain vulnerable beneficiaries with regard to management of inheritance by trustee