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How to Handle Make a List of Personal Assets Step by Step

When make a list of personal assets leaves you confused, worried, or unsure what it means, a clear step-by-step approach can help you sort the signal from the stress. This guide explains how to understand the situation, reflect on what matters, choose a practical next step, and know when to ask for trusted support.

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Part 1

Writing Your List

Select a record-keeping system.

There are two main ways you can document your list. You can do it by hand in a notebook. This has the benefit of being accessible at any time when the notebook is in hand and can be kept in a safe place. The other option is to use an electronic spreadsheet to keep records, which is convenient and can be easily changed. An electronic list can also be printed, downloaded into the Cloud, or stored on a thumb drive.

There are two main ways you can document your list.
You can do it by hand in a notebook.
This has the benefit of being accessible at any time when the notebook is in hand and can be kept in a safe place.
The other option is to use an electronic spreadsheet to keep records, which is convenient and can be easily changed.
An electronic list can also be printed, downloaded into the Cloud, or stored on a thumb drive.

Separate your physical assets.

There are two main types of assets. The first is physical assets. These are the tangible properties you own such as your home, furnishings, automobiles, artwork, clothes, and other items that you can see and feel. The evidence of your ownership of physical assets is documented in legal documents including deeds and titles. [1] X Research source

There are two main types of assets.
The first is physical assets.
These are the tangible properties you own such as your home, furnishings, automobiles, artwork, clothes, and other items that you can see and feel.
The evidence of your ownership of physical assets is documented in legal documents including deeds and titles.
[1] X Research source

Distinguish your financial assets.

The second type of assets are financial assets. These are your intangible properties that represent ownership of bank accounts, securities, insurance policies, stocks and bonds, and other evidence of value for those assets that affect your income or wealth. [2] X Research source

The second type of assets are financial assets.
These are your intangible properties that represent ownership of bank accounts, securities, insurance policies, stocks and bonds, and other evidence of value for those assets that affect your income or wealth.
[2] X Research source
The second type of assets are financial assets.
These are your intangible properties that represent ownership of bank accounts, securities, insurance policies, stocks and bonds, and other evidence of value for those assets that affect your income or wealth.

Document personal information.

On your inventory list, you should document a good amount of your personal information. This will help attach you to your assets through the documentation. You should include your name, passport number, income tax number, location of your will, and signature.

On your inventory list, you should document a good amount of your personal information.
This will help attach you to your assets through the documentation.
You should include your name, passport number, income tax number, location of your will, and signature.
On your inventory list, you should document a good amount of your personal information.
This will help attach you to your assets through the documentation.

Describe the items.

Once you start your personal inventory, you need to include as much information as possible about each physical asset. This includes a detailed description of each item. You should create categories under physical assets in your list in order to keep your assets straight. You can have a category for automobiles, jewelry, entertainment equipment, and valuable collections. You should also include the fair market value of each item you list. [4] X Research source

Once you start your personal inventory, you need to include as much information as possible about each physical asset.
This includes a detailed description of each item.
You should create categories under physical assets in your list in order to keep your assets straight.
You can have a category for automobiles, jewelry, entertainment equipment, and valuable collections.
You should also include the fair market value of each item you list.

Provide evidence of ownership.

In addition to the list, you need to give evidence of intangible assets such as deeds, titles, certificates, insurance policies, and financial accounts. [6] X Research source These should be identified with account numbers and owner details such as name, address, and Social Security numbers. You should also include the names of any persons that have legal authority to manage, sell, or otherwise dispose of each financial asset.

In addition to the list, you need to give evidence of intangible assets such as deeds, titles, certificates, insurance policies, and financial accounts.
[6] X Research source These should be identified with account numbers and owner details such as name, address, and Social Security numbers.
You should also include the names of any persons that have legal authority to manage, sell, or otherwise dispose of each financial asset.
In addition to the list, you need to give evidence of intangible assets such as deeds, titles, certificates, insurance policies, and financial accounts.
[6] X Research source These should be identified with account numbers and owner details such as name, address, and Social Security numbers.

Provide acquisition details when necessary.

For some items, especially the more costly items, you may need to include acquisition information. If you remember where you got certain items, you should list the elements of acquisition including the name, address, and phone number of the seller as well as the price.

For some items, especially the more costly items, you may need to include acquisition information.
If you remember where you got certain items, you should list the elements of acquisition including the name, address, and phone number of the seller as well as the price.
For some items, especially the more costly items, you may need to include acquisition information.
If you remember where you got certain items, you should list the elements of acquisition including the name, address, and phone number of the seller as well as the price.
For some items, especially the more costly items, you may need to include acquisition information.

Include location information.

The location of items or important documents should also be listed in your personal asset inventory. For each of your physical assets, you should note the place that physical items are kept or stored along with special security required. For your financial accounts, you should identify them with the name, address, and phone number of the custodian, broker, or bank where the account is located.

The location of items or important documents should also be listed in your personal asset inventory.
For each of your physical assets, you should note the place that physical items are kept or stored along with special security required.
For your financial accounts, you should identify them with the name, address, and phone number of the custodian, broker, or bank where the account is located.
The location of items or important documents should also be listed in your personal asset inventory.
For each of your physical assets, you should note the place that physical items are kept or stored along with special security required.

Finish your inventory list.

Once you have all of your physical and financial assets listed, listed all personal information, and attached copies of relevant documentation, you need to finish up your list. This includes adding any additional items that did not specifically fit into either of the categories but that you want listed. After you finish the last of the list, you should date your inventory.

Once you have all of your physical and financial assets listed, listed all personal information, and attached copies of relevant documentation, you need to finish up your list.
This includes adding any additional items that did not specifically fit into either of the categories but that you want listed.
After you finish the last of the list, you should date your inventory.
Once you have all of your physical and financial assets listed, listed all personal information, and attached copies of relevant documentation, you need to finish up your list.
This includes adding any additional items that did not specifically fit into either of the categories but that you want listed.

Part 2

Protecting Your List

Attach a list of legal representatives or authorized agents.

You should list the individuals that can help with your affairs if you are unable to. In the event of an emergency or in a time where you are unable to conduct your own affairs, you need to document the names, addresses, and contact information of your advisers or family members who have authority to act on your behalf.

You should list the individuals that can help with your affairs if you are unable to.
In the event of an emergency or in a time where you are unable to conduct your own affairs, you need to document the names, addresses, and contact information of your advisers or family members who have authority to act on your behalf.
You should list the individuals that can help with your affairs if you are unable to.
In the event of an emergency or in a time where you are unable to conduct your own affairs, you need to document the names, addresses, and contact information of your advisers or family members who have authority to act on your behalf.
You should list the individuals that can help with your affairs if you are unable to.

Scan or photocopy all of your receipts.

To keep your property safe, you should keep as many receipts as possible, especially on high ticket items. If you are using an electronic list, scan your receipts so you can have electronic copies of them. If you made a physical list, make photocopies of your receipts to keep with your list. It is always good to have multiple copies of them just in case something happens to either copy of the receipt.

To keep your property safe, you should keep as many receipts as possible, especially on high ticket items.
If you are using an electronic list, scan your receipts so you can have electronic copies of them.
If you made a physical list, make photocopies of your receipts to keep with your list.
It is always good to have multiple copies of them just in case something happens to either copy of the receipt.
To keep your property safe, you should keep as many receipts as possible, especially on high ticket items.

Make copies of your inventory and store each copy in a secure location.

Once you complete your list, you need to keep it safe. You do this by making multiple copies of it and securing one in a safe location. If you did your inventory electronically, you should print a physical copy of the list and store it with other important papers in a fireproof safe or safety deposit box. Keep a second copy in a secure, but accessible place where you can easily change it if necessary.

Once you complete your list, you need to keep it safe.
You do this by making multiple copies of it and securing one in a safe location.
If you did your inventory electronically, you should print a physical copy of the list and store it with other important papers in a fireproof safe or safety deposit box.
Keep a second copy in a secure, but accessible place where you can easily change it if necessary.
Once you complete your list, you need to keep it safe.

Keep your information up to date.

Just because you made one list, your work is not over. You continually purchase things and change assets, so you need to keep your list up to date. Periodically review your list, adding new assets and deleting any assets no longer in your possession. If you acquire or dispose of a significant asset, amend the list as soon as possible following the event. You should note the details of the transaction, such as the date, parties involved, and your reasons for acquisition or disposal.

Just because you made one list, your work is not over.
You continually purchase things and change assets, so you need to keep your list up to date.
Periodically review your list, adding new assets and deleting any assets no longer in your possession.
If you acquire or dispose of a significant asset, amend the list as soon as possible following the event.
You should note the details of the transaction, such as the date, parties involved, and your reasons for acquisition or disposal.

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