Inventory of Assets

An Inventory of Assets is a comprehensive list of all your possessions and financial accounts. This important document:

1. Details personal property, real estate, vehicles, and valuables

2. Lists bank accounts, investments, and retirement funds

3. Includes insurance policies and their beneficiaries

4. Notes debts and liabilities

5. May include digital assets and online accounts

6. Can be used alongside a will or trust

Creating an Inventory of Assets simplifies estate planning and administration. It helps executors locate and manage your assets, ensures nothing is overlooked, and can expedite the probate process. This document should be regularly updated and stored securely, with its location known to your executor or trusted family members. An accurate inventory can also be valuable for insurance purposes and financial planning during your lifetime.