When creating your Will you can include any savings, share holdings, property, vehicles, intellectual property or even collectibles as part of the assets for your Estate. Liabilities may include mortgages, HECS (university debt) or credit card debts you have accrued in your lifetime. How you determine what constitutes an asset or liability in your own name is a personal decision.
After you pass away the items you include under the assets and liabilities module will be used as a guide to help your executor locate and distribute your deceased estate.
If you do not list your assets and liabilities then your executor may need to use the Australian Death Notification Service to notify various organisations about the your passing.