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.