Burr-Law - Estate Planning Lead Magnet - Flipbook - Page 5
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Inventory Your Assets
Business Interests
If you own a business or have an ownership
stake in a partnership, LLC, or corporation,
include these interests in your inventory.
Financial Assets
Begin by creating an inventory of your financial
assets, including:
• Bank accounts (checking, savings, CDs)
• Investment accounts (stocks, bonds, mutual funds)
• Retirement accounts (IRAs, 401(k)s, pensions)
• Annuities and life insurance policies with cash value
Real Estate
List all your real estate holdings, including
primary residences, vacation homes, rental
properties, and land.
Digital Assets
Digital assets include online accounts, social
media profiles, email accounts, blogs, websites,
and digital files stored on computers or cloud
storage.
Personal Property
Document valuable personal property, such as
artwork, collectibles, jewelry, vehicles, and
furniture. This could also include heirlooms and
property with sentimental value, regardless of
the item’s financial value.
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Assess Your Liabilities
Mortgages and Loans
List any outstanding mortgages, home
equity loans, personal loans, car loans, and
student loans.
Taxes
Determine any unpaid income, property, or
other taxes.
Other Debts
Include any credit card balances and other
outstanding debts.
Identify Your Beneficiaries
Immediate Family
Consider your spouse, children, and any
grandchildren as primary beneficiaries.
Extended Family
Other relatives, such as siblings, nieces, and
nephews, can also be named as beneficiaries.
Charitable Organizations
If you wish to leave a legacy to a charitable organization, include it as a beneficiary in your plan.
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