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How to Make an Asset Inventory for the Purpose of Managing Y

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How to Make an Asset Inventory for the Purpose of Managing Y

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  1. Calgary legal Wills Frequently Asked Question

  2. Question: How to Make an Asset Inventory For The Purpose Of Managing Your Estate?

  3. Answer: It is important to talk to your Alberta wills and estate planning lawyer before drafting your will so that you can include all the necessary information with regards to asset distribution and other related matters. Below is a simple guide on how to make an asset inventory.

  4. Answer (contd): 1. List all your assets in a worksheet or spread sheet and categorize them according to asset types (e.g. real property, personal property, etc). You can ask your wills and estate planning lawyer about the types of documentation you may need to make the job of your executor easier.

  5. Answer (contd): 2. Create a folder for your insurance files. It should contain important documents and information with regards to the following: § All types of insurance you have § Beneficiaries § List of dependents § Current cash value of all your insurance policies.

  6. Answer (contd): 3. Make a list of obligations and liabilities. You should create a spreadsheet that contains all the information with regards to the type of liability/obligation, worth, location and the name of person or company involved. 4. Make a comparison of your assets and liabilities. Determine the current worth of your assets minus the obligations.

  7. As an experienced Calgary estate planning lawyer, Russ Weninger can help with any of your estate planning needs.

  8. For more information on Wills and Estate Planning in Alberta, visit http://calgarylegalwills.com or Call Russ Weninger at (403) 265-4496.

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