Russ Cook & Associates, PC
view our Practice areas

Tips for creating a list of your assets in an estate plan

One of the most helpful tools you can provide to your loved ones in an estate plan is a detailed, updated inventory of your assets. This information can make the probate process easier to navigate, as it can prevent a personal representative from having to spend a lot of time identifying your assets and tracking them down.

As such, an inventory should be in your estate plan, even if you have few assets. Below are some suggestions for how you can create a comprehensive inventory and how to incorporate it into your estate plan.

What property to include

Everything you own is part of your estate and will need to be managed during probate. Online lists like this one from Charles Schwab & Co. can be a good place to start. When listing your property, remember to include:

  • Bank accounts
  • Cars
  • Homes and other real estate property
  • Personal property
  • Retirement accounts
  • Insurance policies
  • Investments
  • Debts
  • Money owed to you
  • Business interests
  • Digital assets

Details to include

Once you have a list of all your assets and liabilities, you should include information on where to find the property and how to access it. This means you will want to record:

  • Bank account numbers
  • Physical location of the property
  • Contact information for the party holding or managing the property
  • Policy numbers
  • Login information and passwords
  • Description of the property
  • Fair market value

Make sure you keep this information secure, which typically means keeping it with your other estate planning documents. You will also want to update it from time to time as your assets or accounts change.

Not only can having a thorough inventory of your assets provide critical guidance to loved ones during probate, it can also help you stay organized. When you know what and how much you have, you can find that it is easier to make decisions about how to distribute all the property as you see fit.

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying About Us

  • “Everyone we came in contact with was wonderful. The staff and Russ treated us like family at all times.”

    - June S.
  • “Being new to the area having moved from out of state, I was searching for an attorney to assist in elder estate planning for my mother. I was referred to Russ Cook & Associates and found the firm as a whole and Russ Cook himself to be very helpful and accommodating to my needs, as well as experienced and very knowledgeable on the matter I was seeking assistance. I would definitely recommend Russ Cook and Associates.”

    - Brad H.
  • “Mr. Cook and his staff were phenomenal to work with on my will. They are extremely professional and friendly and made the process seamless. They go above and beyond!”

    - Amber C.
  • “Russ took the time to answer my questions by email, so that I knew exactly what would take place when I visited his office and his time as well as mine was used efficiently. I appreciated his thoroughness and his professionalism, as well as that of his staff.”

    - JoAnn G.
  • “Overwhelmingly positive experience.”

    - Stephen W.
Email Us For A Response

Schedule An Initial Consultation Today

Contact us today to schedule a consultation by sending us an email or by calling 615-200-9117.
We assist clients throughout the Nashville area.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Brand Contact

5141 Virginia Way
Suite 220
Brentwood, TN 37027

Phone: 615-200-9117
Fax: 615-370-5938
Brentwood Law Office Map

Office Hours:
Monday: 8:00 AM – 4:30 PM
Tuesday: 8:00 AM – 4:30 PM
Wednesday: 8:00 AM – 4:30 PM
Thursday: 8:00 AM – 4:30 PM
Friday: 8:00 AM – 4:30 PM

Summer Hours Office:
8:00 AM - 1:00 PM on Fridays
May 24th Through August 30th

Map Image