Assets and Liabilities

23/04/2026
Knowledge

How To

Assets & Liabilities is a new app available in applicable LEAP matters. It provides a single, structured place to record and manage all assets, liabilities, and testamentary expenses by removing the need to create individual cards, duplicate data across table types, or track progress outside of LEAP.

Assets & Liabilities is particularly suited to complex or high-value estates where multiple assets and liabilities must be tracked, verified, and finalised efficiently.

Replacing the Existing Workflow

How it Worked Before

Previously, users were required to manage assets and liabilities across three separate table sections within the matter:

Assets - Users could enter assets without a linked institution or card under Assets held.
Assets held - Users added a card to the Assets section, then completed the asset details layout for each card. The same layout is applied to every asset category, with no customisation based on the type of asset being recorded.
Liability - Liabilities required a separate card, with users completing the liability details layout. The data fields were the same regardless of the type of liability being recorded.

The core limitations of the previous approach were:

Data was spread across three separate sections, making it difficult to see the full picture of an estate at a glance.
The asset and liability detail layouts were not customised to each category - users saw the same fields whether entering real estate, bank accounts, shares, or superannuation.
There was no centralised workflow for tracking the status of items, generating correspondence, or producing a combined export summary.
There was no net estate total available at a first glance.

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The Assets, Assets held, and Liability sections (shown above, outlined in red) are replaced by the single Assets & Liabilities app (shown in green).

What's New

Assets & Liabilities consolidates all of the above into a single location within the matter. There is now one place to enter, track, and manage every asset, liability, and testamentary expense. Fields adapt dynamically based on the category selected, so users only see the information relevant to what they’re recording.

Transition Period

The existing Assets, Assets held, and Liability tables will remain on matters during a transition period to allow firms to move across at their own pace.

From Thursday, 23 April 2026 - the Assets & Liabilities table is automatically added to all new NSW Estate Administration matters.
From Monday, 11 May 2026 - Assets, Assets held, and Liability will be removed as default tables from any new matters created.
After 11 May 2026 - the existing tables can still be added to matters manually if a firm prefers. A date for their complete removal will be confirmed in due course, following usage and feedback.

Available Matter Types

Assets & Liabilities is available in the following NSW matter types:

Estate Administration - General Advice
Estate Dispute
Family Provision Claim
Letters of Administration
Probate
Reseal
Survivorship

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Support for additional matter types and jurisdictions will be considered in future releases.

Key Features

Feature	What it does
Centralised table	All assets, liabilities, and testamentary expenses are managed in one place. No more creating individual cards or duplicating data across table types. The net estate value is displayed throughout the app, on the export summary and on the table within the matter.
Dynamic field capture	Fields adapt based on the type of entry you select. Real estate shows property address and ownership details; bank accounts show BSB and account details; and so on for shares, superannuation, business interests, and more.
Workflow & progress tracking	Track the status of each asset and liability, what’s been called in, what’s outstanding, and what still needs action.
Integrated letter generation	Generate correspondence directly from the Assets & Liabilities Dashboard. Letters are linked to the relevant asset or liability record.
Export summary	Generate a summary export that aligns with the NSW Supreme Court portal format, including the net estate figure. We understand the requirement and have created this summary to assist with any data entry within the portal until any direct integration is available.

Available Categories

The following categories are available when adding entries to Assets & Liabilities. Fields adjust automatically based on the category selected.

Assets	Liabilites	Testamentary Expenses
Real Estate	Mortgages	Funeral Expenses
Bank Accounts	Other Loans	Legal Fees / Disbursements
Personal Effects	Credit Cards	Other Testamentary Expenses
Motor Vehicles	Other Liabilities
Cash
Superannuation
Life Insurance
Refundable Accommodation Deposit
Loans Receivable
Shares - Public
Shares - Private
Interest in Partnerships
Foreign Assets
Assets Held as Trustee
Other Assets

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To request an additional category, please provide feedback in accordance with the Support & feedback section below.

How to Access Assets & Liabilites

Assets & Liabilities is accessed from within applicable LEAP matters by following the below steps:

Open an eligible NSW Estate Administration matter.
Double click Assets & Liabilities from the list of available tables.
In the event that a matter was created prior to the release, Assets & liabilities can be added to the matter by adding the table type manually:
1. Right click on Matter Details
2. Select Edit Table Types > search for “Assets & liabilities”
3. Tick active
4. Select OK

How it Works

Assets & Liabilities is the central tool for preparing the estate’s inventory, generating correspondence to institutions, tracking asset and liability progress, and producing export summaries for the Dashboard and the NSW Supreme Court portal.

A typical workflow proceeds as follows:

Add entries for each asset, liability, or testamentary expense using the relevant category for the estate.
Track the progress of calling in each item by the built-in Dashboard based on the requirements of the estate.
Generate correspondence directly from the Dashboard as required.
Use the export summary as required.

Managing the Inventory

Adding items - Quick Add

Use Quick Add to add an item directly from the table without first navigating to a specific category.

Select Quick Add from the top-right of the Assets, Liabilities, or Testamentary Expenses section.
Select the relevant category for the item.
Enter the required details and select Save.

Adding items — by category

Use this method to add an entry directly within a specific category.

Select a category from the menu on the left (e.g. Real Estate, Bank Accounts, Mortgages, Legal Fees / Disbursements).
Select the Add icon from the top-right of the category section.
Enter the required details and select Save.

Editing or deleting items

To update an item, select the Edit icon next to it.
To remove an item, select the Delete icon next to it.

Dashboard

The Dashboard provides a consolidated view of all institutions and the progress of each item. Where an institution appears across multiple categories, it is grouped as a single entry.

Select the institution name to view all items within that grouping.

From the Dashboard you can:

Generate the initial letter to the institution.
Record the date the initial letter was sent.
Record the date the response was received.
Record the date any forms and requirements were returned.
Set a follow-up date if required.
Set a status for the institution.

Generate Letter

Select Dashboard from the left-side menu.
Navigate to the relevant institution in the list.
Select Generate to generate the letter.
Finalise the letter.
Select Save & Close.
Follow the standard firm process of emailing or posting the letter.

Support & Feedback

How to Guide

A How to Guide can be found within Assets & Liabilities in the bottom left corner, with further information on each function.

For assistance or to report an issue, please contact the team through any of the following:

LEAP Estates team by emailing estates@leap.com.au
Client Support by emailing support@leap.com.au
Client Support via LiveChat at leap.com.au

Feedback is valued and can be submitted via this LEAP Feedback Form

Submit feedback via — LEAP Feedback Form

Last Modified Date

23/04/2026 1:15 pm

Title

Assets and Liabilities

URL Name

Assets-and-Liabilities-App-AU

Resolution