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Now Live - Illinois Probate Assets & Liabilities Super Layout
Nov 21, 2023 - 0 comments
Illinois probate attorneys will soon have a new and improved way to record the assets & liabilities of estates in LEAP. This new system makes it easier than ever to efficiently manage estate finances, automatically calculate totals, maintain accurate records, comply with legal requirements, and provide transparent reporting to fiduciaries and interested parties.
This new feature has been expertly developed by the LEAP Content team of attorneys and Estates & Trusts specialists, and is part of LEAP's commitment to providing software that helps simplify the complexities of running your legal practice, while improving productivity and efficiency.
The super layout will provide financial accounting functionality that is crucial for accurately managing and tracking the financial aspects of an estate throughout the probate process. Here are some key features:
- Asset Management – Record and organize all estate assets in a variety of asset classes, including real property, bank accounts, investments, personal property, and more. Input and track asset details, such as descriptions, valuations, and ownership information.
- Liabilities and Debts Tracking – Manage estate liabilities and outstanding debts, including loans, mortgages, and other financial obligations. Input and track debt details, including creditor information and amounts owed.
- Estate Accounting – Capable of automating accurate and comprehensive financial statements for the estate that are essential for probate court filings, such as inventories and distributions.
- Client Collaboration – Securely request details for the Assets & Liabilities super layout directly from clients via the LEAP Client Connect App and save all details directly to the matter in LEAP.
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