The inventory is of paramount importance in the process of estate liquidation.
First, it allows the heirs to determine whether the estate is clearly solvent or insolvent, and thus exercise their option to accept or renounce the inheritance depending on whether it is solvent or deficient.
The inventory must therefore be established to the best of our knowledge to avoid exaggerating or underestimating the value of the assets or liabilities. A realistic evaluation of the inventory will also facilitate the task of the liquidator when he submits his account rendering at the end of his administration.
The liquidator has a period not exceeding six months from the date of death to prepare the inventory of the estate. The testator cannot exempt the liquidator from preparing the inventory. However, the beneficiaries can do so. In this case, they will then all be liable for the debts of the estate and, if necessary, beyond the value of the assets in the deceased person's estate.
The content of the inventory must reflect, as accurately as possible, the situation of the deceased person's estate. The inventory provides information on the deceased's assets and liabilities, as well as a summary to determine whether the estate is solvent or not.
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