Manage Assets

Assets include real estate, stocks, mutual funds, jewelry, furniture, cars, and so forth: anything that's worth money (see Managing Assets for a general discussion on the topic).

List Assets

To manage assets using EstateExec, begin by listing all significant and relevant assets in the Assets tab (see Enter Asset for specific EstateExec instructions, and Taking Inventory for some practical advice).

Asset Planning

Next you will want to plan the disposition of those assets: by the end of the estate settlement process, no assets should remain in the estate. To help you with this, the Assets table contains a Plan column, which you can set to one of the following:

  • Discard: The asset has no value and no heir wants it, so you plan to simply throw it away (this is uncommon: there's no need to individually list a bunch of small worthless items as assets).
  • Distribute: You plan to distribute this asset to one or more heirs.
  • Sell: You plan to sell this asset and deposit the proceeds into the estate account, for use to pay estate expenses or make cash distributions.
  • Transfer: You plan to transfer the value from this asset to another (perhaps consolidating accounts). Note that you can transfer a portion of value from one asset to another, and then apply any of the other settlement actions to the remainder of that original asset. In such cases, the Plan is what you intend to do with the remainder (e.g., Distribute).

Asset Disposition

Once you have a complete plan (or even before), you can take action to "settle" individual assets:

  1. Select the desired asset by clicking its selection checkmark in the leftmost cell of the asset's row
  2. Click the Settle button at the top of the table, and choose the desired outcome
  3. Fill in the dialog that appears, and press OK

You can also directly access the desired settlement dialog by clicking the corresponding cell in the asset's row (e.g., Distributed).

Monitoring Progress

The Estate Disposition chart on the Overview tab provides feedback on your overall plan and status in implementing that plan. Eventually, all assets should have a plan, and all plans should have been carried out. The Heir Allocation charts provide feedback on how your plan is meeting the percentage heir allocation targets.

Further Details

The following topics provide more detailed instruction on using EstateExec to manage assets:

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