Assessing Assets and Liabilities

Include all bank accounts, investments, properties, vehicles, business interests, and debts.

Keep the spreadsheet updated with new information as it becomes available.

Group similar items together for easier reference (e.g., real estate, personal property).

Include the current market value of each asset.

Periodically review and adjust entries to reflect any changes in value or status.

Create a detailed inventory of all personal belongings and valuables.

Determine which items to keep, sell, donate, or distribute to beneficiaries.

Obtain appraisals for high-value items.

If selling items, organize an estate sale or use online platforms.

Clean and maintain the property until it is sold or transferred.

Obtain a professional appraisal to determine the market value of the property.

Decide whether to sell the property or transfer it to beneficiaries.

List the property for sale with a real estate agent.

Review and negotiate offers from potential buyers.

Complete the sale process and transfer proceeds to the estate account.

List all vehicles owned by the deceased.

Get a market value estimate for each vehicle.

Transfer vehicle ownership to beneficiaries or new owners.

If selling, list the vehicles and complete the sale process.

Pay off any outstanding loans or leases on the vehicles.

List all bank accounts held by the deceased.

Inform banks of the death and provide the necessary documentation.

Close accounts that are no longer needed.

Transfer funds to the estate account or beneficiaries as directed.

Maintain records of all transactions and communications with banks.

List all business interests and shares held by the deceased.

Seek advice from legal and financial advisors on managing these assets.

Obtain valuations for business interests and shares.

Decide whether to sell, transfer, or retain business interests.

Document Decisions: Record all decisions and actions taken regarding these assets.

Inform the postal service of the deceased’s passing and request mail redirection.

Submit necessary documentation, such as the death certificate and proof of authority.

Arrange for mail to be redirected to the executor’s address.

Regularly check redirected mail for important documents and communications.

Update addresses for ongoing services and accounts as needed.

Identify all online accounts, subscriptions, and memberships.

Contact service providers to inform them of the death.

Submit necessary documentation, such as the death certificate.

Cancel accounts and subscriptions to prevent further charges.

Ensure that personal data is secured or deleted as needed.

List all contracts and agreements signed by the deceased.

Review the terms and conditions of each contract.

Inform the other parties to the contracts of the death.

Terminate or transfer contracts as appropriate, following legal requirements.

Maintain records of all communications and actions taken.

List all superannuation funds the deceased had.

Inform the superannuation fund administrators of the death.

Submit necessary documentation, such as the death certificate and proof of beneficiary status.

Complete and submit claim forms to the superannuation funds.

Ensure the benefits are distributed according to the deceased’s wishes or legal requirements.

Review and complete the inventory of all assets.

Obtain appraisals for valuable items as needed.

Ensure all assets are documented, including descriptions and values.

Develop a plan for distributing assets to beneficiaries.

Consult with legal and financial advisors to ensure accuracy and compliance.

Execute the distribution plan according to the will or legal guidelines.