About This Worksheet
A complete asset inventory is the foundation of every estate plan. Without it, your advisor is working with incomplete information, beneficiary designations go unreviewed, and family members may spend months after a death simply locating accounts.
The downloadable PDF provides structured tables for every major asset category: real estate, financial accounts, retirement accounts, insurance, business interests, personal property, digital assets, and debts. It also includes a trusted contacts section so your family knows who to call. Print it out, gather your statements, and work through it section by section.
31.9M
retirement accounts worth $1.7T+ have been forgotten or left behind
570 hrs
average time families spend settling an estate, much of it locating assets
Before You Begin
Gather these documents before sitting down with the worksheet. Having actual statements in front of you rather than relying on memory makes the inventory accurate.
- Most recent bank and credit union statements
- Brokerage and investment account statements
- Retirement account statements (401k, IRA, pension)
- Life insurance policy declarations pages
- Annuity contract summaries
- Most recent mortgage statement for each property
- Property deeds or title reports
- Vehicle titles and registration cards
- Business formation documents (LLC, corp, partnership)
- 529 and education savings account statements
- HSA account statement
- Most recent property tax assessments
Ownership Quick Reference
How an asset is titled determines whether it passes through your will, your trust, or directly to a named beneficiary. Check the top of each statement or the face of each deed.
| Titling Type | How It Works |
|---|---|
| Sole Ownership | One person owns the asset outright. Passes through the will or trust at death. |
| JTWROS | Two or more owners. When one dies, the asset passes automatically to the surviving owner(s), bypassing the will entirely. |
| Tenants by the Entirety | Joint ownership available only to married couples. Automatic survivorship plus creditor protection in many states. |
| Tenants in Common | Each owner holds a separate share. A deceased owner's share passes through their will or trust. No automatic survivorship. |
| Community Property | Married-couple ownership in community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI). Each spouse owns half. |
| Trust | Asset is titled in the name of a trust. Managed and distributed per the trust terms. Avoids probate. |
Real Estate
The worksheet captures every property you own: primary residence, vacation homes, rental properties, vacant land, and timeshares. For each, record the address, how it is titled (see the ownership reference above), the estimated market value, outstanding mortgage balance, and where the deed is stored.
How real estate is titled is one of the most consequential estate planning decisions. A home titled in joint tenancy with right of survivorship passes automatically to the surviving owner, outside of probate. A home titled solely in your name must go through probate unless it has been transferred into a trust. Your advisor will review each deed to determine whether the current titling aligns with your estate plan.
Bank and Investment Accounts
This section covers checking, savings, money market, CDs, brokerage, and managed investment accounts. For each account, record the institution, account type, ownership, approximate balance, and whether a payable-on-death (POD) or transfer-on-death (TOD) beneficiary designation is on file.
POD designations override your will and trust.
If a bank account has a payable-on-death beneficiary on file, that designation controls who receives the funds at death, regardless of what your will or trust says. Review POD designations whenever you update your estate plan.
Investment and brokerage accounts follow the same pattern. The key question for each is whether the account should be re-titled into the trust, kept in individual name with a TOD designation, or left as-is. The Trust Funding Guide covers the process for each account type in detail.
Retirement Accounts
The worksheet lists every common retirement account type: Traditional IRA, Roth IRA, 401(k), 403(b), 457 plan, SEP IRA, SIMPLE IRA, pension, profit-sharing plan, and HSA. For each, record the institution, approximate value, and both primary and contingent beneficiary designations.
Retirement accounts are governed by beneficiary designation, not by your will or trust. The choice of beneficiary has significant tax implications, particularly under the SECURE Act's ten-year distribution rule. For a detailed beneficiary review, use the Beneficiary Designation Review Worksheet.
Spousal consent is required on employer plans.
Federal law (ERISA) requires that married participants in 401(k), 403(b), pension, and other qualified employer plans name their spouse as primary beneficiary unless the spouse signs a written waiver. This rule does not apply to IRAs.
Insurance and Annuities
The insurance section covers three categories:
Life Insurance Policies
Term, whole, universal, and group employer policies. For each, record the carrier, death benefit amount, policy owner, and primary and contingent beneficiaries. The death benefit is the relevant figure for estate planning, not the cash value.
Annuity Contracts
Fixed, variable, and indexed annuities. Record the carrier, approximate value, and beneficiary designations.
Education Savings
529 plans, Coverdell ESAs, and UTMA/UGMA custodial accounts. These have their own ownership and successor-owner rules that affect what happens if the account owner dies before the funds are used.
Life insurance ownership matters.
If you own a life insurance policy on your own life, the death benefit is included in your taxable estate. Transferring ownership to an irrevocable life insurance trust (ILIT) can remove it from the estate, but the transfer must occur at least three years before death to be effective.
Business Interests
Any business you own in whole or in part. The worksheet captures the business name, entity type (LLC, S-Corp, C-Corp, partnership, sole proprietorship), your ownership percentage, estimated value, whether a buy-sell agreement exists, and where the formation documents are stored.
Review your operating agreement.
Most LLC and partnership agreements contain restrictions on transferring ownership at death. If your operating agreement conflicts with your estate plan, the operating agreement typically governs. Ask your attorney to review both documents for consistency.
Business succession is one of the most complex areas of estate planning. If a buy-sell agreement is in place, it often determines the transfer mechanism and price. If there is no buy-sell agreement, the business interest passes through the will or trust, but the surviving owners may have rights that limit what the beneficiary actually receives.
Personal Property
The worksheet divides personal property into two categories:
Vehicles and Titled Property
Cars, trucks, motorcycles, boats, RVs, trailers, and aircraft. For each, record the year, make, ownership, approximate value, outstanding loan balance, and where the title is stored. Titling matters: a vehicle titled jointly passes to the surviving owner; a vehicle titled solely in your name must be transferred through the estate.
Valuable Personal Property
Jewelry, art, collections, antiques, firearms, and other items worth $1,000 or more. For each, record the description, approximate value, most recent appraisal date, location, and intended recipient.
Consider a Personal Property Memorandum.
Most states allow a separate written list, called a personal property memorandum, that assigns specific items to specific people without amending the will or trust. Ask your advisor whether your state recognizes this document.
Digital Assets
The worksheet covers the digital assets most commonly overlooked in estate planning: cryptocurrency holdings, online banking portals, domain names, online businesses and revenue streams, loyalty program points, photo and media libraries, and password managers. For each, record the platform, approximate value, access method, and any relevant notes.
Every state has adopted a version of the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which governs who can access these accounts after death or incapacity. The legal framework, platform-specific legacy tools, and a complete digital inventory process are covered in the Digital Asset Inventory Guide.
$50 billion in digital assets go unclaimed each year.
Unlike traditional financial accounts, digital assets can be impossible to locate without access credentials. A password manager with an emergency access feature is the single most effective tool for ensuring your digital life is accessible to your family.
Debts and Liabilities
The worksheet captures all outstanding debts not already listed with an asset above (mortgage balances are recorded in the real estate section). For each debt, record the type, creditor, balance owed, monthly payment, interest rate, and whether there is a co-signer.
Debts don't disappear at death.
Most debts become the responsibility of the estate, reducing what beneficiaries receive. Co-signed debts become the full responsibility of the surviving co-signer. Federal student loans are discharged at death, but private student loans typically are not.
A complete debt inventory helps your advisor and executor understand the net estate and prioritize which debts to address. It also surfaces co-signed obligations that could become a problem for the surviving co-signer if the estate cannot pay.
Trusted Contacts
The final section of the worksheet captures the people your family will need to reach during estate settlement: financial advisor, estate attorney, CPA or tax preparer, insurance agent, banker, and employer HR contact. For each, record the name, firm, phone number, and email.
Having this list in one place saves weeks during estate settlement. Without it, your family is calling institutions, searching through email, and trying to figure out who your CPA was. The Letter of Instruction Template provides an expanded contacts section along with personal messages, funeral wishes, and household operations.
This worksheet is provided for informational and organizational purposes only. It does not constitute legal, tax, or investment advice, nor does it transfer, retitle, or change ownership or beneficiary designations on any asset or account. All values are approximate and should be verified with current account statements. Consult your attorney, tax advisor, and financial advisor before making changes to asset titling, ownership structures, or beneficiary designations. Review this inventory at least annually and after any major life event.
For a deeper look at digital accounts, cryptocurrency, and platform legacy tools, see the Digital Asset Inventory Guide. When you are ready to transfer assets into a trust, the Trust Funding Guide provides step-by-step instructions for every asset type. Advisors using Bancroft can see how the completed inventory drives the automated letter workflow in trust funding automation.