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Set an asset or liability to pass outside the estate

By default all inventory items pass through the estate. This article explains how to mark an asset or liability as passing outside the estate — for example, insurance or registered accounts paid directly to beneficiaries.

Steps

  1. Click Inventory or Accounting in the left-hand menu.

  2. To create a new item: click the Asset button in the top menu. To modify an existing item: click the three-dot menu next to the item and select Edit.

  3. Enter the asset or liability details.

  4. Toward the bottom of the form, find the This item passes dropdown and select Outside of the Estate.

  5. Scroll to the top and click Save to return to the inventory screen, or Save and add new to enter another item.

Conclusion

The item is now marked as passing outside the estate and is excluded from the probateable estate value. Contact [email protected] if you need help.

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