Family on dock

Automated Estate Settlement

Why is this Important?

The first order of priority required by law to settle an estate is for the Executor/ Trustee to create a current and accurate inventory of assets. They act as fiduciaries and are legally responsible for all the transactions. In addition, states generally mandate strict accounting procedures for all sales or auctions which includes receipts and disbursements. 

Therefore, having an accurate inventory is critically important. Without it, the settlement process can take many months or even years if litigation is involved, resulting in increased cost and time before your Beneficiaries receive anything from your estate. This can impose financial hardships on your family.

That is why Our Family Assets provides a simple and easy to use solution that allows you to record every asset and automates the settlement process.

 

We automate the Estate Settlement Process

The probate or estate settlement process has phases presenting legal challenges and opportunities. Our "Patent Pending" automation feature improves efficiency and ensures accuracy and compliance. Here’s how our automated workflow can help you streamline the process.

 

Lock
Receipt of Death Notice

When Our Family Assets receives a death notice from a State’s Vital Records Department, your Digital Vault is immediately locked, preventing any data alterations. The notice is verified through multiple sources, minimizing reporting errors.  

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Automatic Notification Sent to Executor/Trustee

Next, a notice is sent to your designated Executor/Trustee or Administrator instructing them how to create account credentials so they can securely access all the account data. A Death certificate and biometric ID proofing are required before credentials are issued.

Access
Executor/Trustee Granted Account Access

Then, the Executor/Trustee, or Administrator can use their credentials to securely access the account allowing them to have an accurate inventory of assets. All activity is logged and recorded; asset records can only be viewed, printed or downloaded as needed. NO data in the vault can be altered or deleted.

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Final Settlement Compliance

Upon final settlement, all data is archived to meet individual State requirements.