The executor will need to determine the extent of the deceased’s Estate by going through the deceased’s personal papers to discover the nature and whereabouts of the deceased’s assets and liabilities. The deceased’s last tax return is usually a good place to start.
Assets include real property such as houses or flats, the contents of bank accounts, motor vehicles, boats, shares, furniture and household contents, jewellery, antiques and artworks.
A solicitor can help you to search for these assets, and you can usually obtain searches to land titles on line. You may need to get legal advice on how to interpret them.Click here for more information.
Each asset will need to be valued. For most assets, the value will be quite obvious, such as with the value of a bank account. However, assets such as a house, flat, furniture or jewellery may require a formal valuation, and again a solicitor can arrange this.