Preparing an estate inventory: recording assets, debts and missing documents

1. Establish the estate being inventoried

Start with the name, death date and relevant authority documents. An overview prepared as a relative does not mean you may independently act for the estate. Check who may request information: joint heirs, an authorised representative, executor or liquidator. Record responsibilities so institutions do not receive conflicting requests.

Clarify the list's purpose too. You may collect data for an acceptance choice, formal liquidation or later distribution. These aims are related but distinct. After acceptance under benefit of inventory, have formal liquidation requirements assessed. Preparing the right list and making it available in the right place are separate steps.

2. Identify assets and receivables systematically

Consider current and savings accounts, investments, property and valuable movables. Investigate money owed to the deceased, for example a loan or back payment. Use account statements, ownership documents and agreements. A valuable collection may require investigation unlike ordinary used household items. Identify the valuation used and its date.

Mark possible entitlements uncertain if their inclusion is not established. Insurance or joint accounts require attention to entitlement and agreements. A name on a policy or account is insufficient. Seek expert assessment if uncertain rather than listing the entire amount as freely available. This prevents arithmetic from hiding an ownership question.

3. Investigate what actually belonged to the deceased

Notaris.nl warns that a joint account's entire balance does not automatically enter the estate. Agreements and matrimonial property position matter. Separate estate property from a partner's or other account holder's property. A home may be jointly owned too. Record the share and its evidence instead of only total sale value.

The same applies to borrowed items, things held for safekeeping or disputed ownership. Explain uncertain entries separately and identify who disagrees. An inventory need not conceal an existing dispute to look tidy. Visible uncertainties reveal where investigation is needed before calculating a definitive inheritance share.

4. Record debts and administration costs verifiably

Investigate loans, mortgage, unpaid bills and tax obligations. Rechtspraak explains that certain expenses after death may also be estate debts. Record each creditor, claim and supporting document. An automatic debit is an indication but does not always reveal the complete outstanding balance.

Ask known creditors for statements and continue following incoming post. A debt mentioned by a relative also needs support. Mark disputed claims clearly and do not quietly pay as though established. Distinguish a submitted invoice, acknowledged obligation and paid item. Payment order and priority are not determined merely by sorting the list by receipt date.

5. Preserve evidence and track every change

Refer each item to evidence and identify who checked the data. Store statements, valuations and correspondence securely in a shared location insofar as authorised parties may access them. Do not put full personal details in a public spreadsheet. A readable structure also helps explain later changes to an earlier overview.

Where assets are sold to pay debts, record proceeds and costs separately. Rechtspraak stresses tracking what was sold and at what price. Do not confuse the original financial position with later cash movements. A new debit may alter current cash without fully explaining the original debt position. Add transaction records where administration has already begun.

6. Do not treat the balance as distributable too soon

A positive account does not prove every debt can be paid. Assets and obligations must first be sufficiently known. Rechtspraak warns in liquidation against payment without a complete picture, treating funeral costs separately. A provisional list is therefore no invitation to pay all heirs already. Have solvency doubts assessed specifically.

Where liquidation reveals a negative estate, Rechtspraak mentions reporting to the subdistrict court. Making the inventory available for inspection may also be part of liquidation rules. This is not a general obligation fulfilled identically by every informal family list. Ask which regime applies. Business assets, a minor or serious conflict make specialist help more appropriate.

7. Fictional example: a joint account and missing loan

Suppose two heirs count an entire joint account and notionally divide it in half. Later, part belongs to the surviving partner and a loan remains outstanding. Their first overview was misleading despite correctly copying the balance. The problem was scope and a missing obligation.

A better inventory records account agreements, allocation of the balance and the evidenced loan. Uncertain entries stay visible until assessed. This example prescribes no fixed percentage for joint accounts. It shows why inventorying requires more than addition and why the remainder for distribution can be discussed only after proper administration.

8. Checklist for a usable inventory

Send an adviser the overview, sources and uncertainties. State whether this is preparation, liquidation or a distribution dispute. Assessment can then match the correct stage.

• Authorised preparer, death date and overview's purpose.
• Assets and receivables with evidence, value and applicable valuation date.
• Ownership shares, account agreements and clearly marked disputed entries.
• Debts, creditor responses, administration costs and payments already made.
• Missing documents, transaction overview and questions about formal liquidation steps.