1. Work out the value of what you own
- Make a list of your assets and liabilities and estimate what each is worth
ASSETS are everything you own, eg property, possessions, savings and investments
LIABILITIES are anything that you owe, eg an outstanding mortgage, loans and other debts
- Your Estate is the sum of all your assets minus your liabilities
- Have a look at our Simple Guide Checklist to work out the total sum of your property, money and
possessions.
The following Assets & Liabilities checklist will help you to find the true value of your estate:
(Print off a copy of the checklist)
|
House (present value) |
£ |
Outstanding mortgage |
£ |
|
Antiques/ paintings |
£ |
Loans/HP agreements |
£ |
|
Household contents |
£ |
Credit card debts |
£ |
|
Vehicles |
£ |
Any other debts |
£ |
|
Jewellery |
£ |
Overdraft |
£ |
|
Savings |
£ |
Outstanding tax |
£ |
|
Bank/building society accounts |
£ |
|
|
|
Stocks, shares and bonds |
£ |
|
|
|
Unit and investment trusts |
£ |
|
|
|
Life assurance |
£ |
|
|
|
Other savings |
£ |
|
|
|
Pension benefits |
£ |
|
|
|
Other |
£ |
|
|
|
TOTAL
ASSETS |
£ |
TOTAL LIABILITIES |
£ |
|
Subtract your TOTAL LIABILITIES from your TOTAL ASSETS
for the value of your estate |
Next steps in the will-making process