Inventory All Assets
4-8 hoursList real estate, retirement accounts, taxable investments, life insurance, business interests, and personal property with current values.
Field context
This workflow is part of 3 niche fields
Free step-by-step estate distribution plan for retirees with assets. Plan estate distribution plan with calculators and checklists covering inventory all.
List real estate, retirement accounts, taxable investments, life insurance, business interests, and personal property with current values.
Decide who inherits what, charitable bequests, special needs provisions, and whether to equalize or customize by beneficiary need.
Work with estate attorney on will, revocable living trust (if needed), POA, healthcare directive, and beneficiary updates.
Review estate plan every 3-5 years and after major life events: marriage, divorce, birth, death, or significant asset changes.
Inventory and value all estate assets. · Model distribution scenarios by beneficiary.
Include life insurance proceeds in estate planning. · Verify life insurance beneficiary designations match plan.
Plan retirement account inheritance strategy (Roth vs traditional).
Essential documents and their purposes.
| Document | Purpose | Cost | Updates Needed |
|---|---|---|---|
| Will | Asset distribution, guardian | $300-$1,500 | Every 3-5 years |
| Revocable trust | Avoid probate, privacy | $1,500-$3,500 | As assets change |
| Financial POA | Manage finances if incapacitated | Included above | Every 5 years |
| Healthcare directive | Medical decisions if incapacitated | Included above | Every 5 years |
| Beneficiary forms | Retirement/insurance transfer | Free | Annually |
An ex-spouse still listed as 401(k) beneficiary inherits regardless of divorce decree — update forms immediately after life changes.
Revocable living trust costs $1,500-$3,500 but saves months of probate court and keeps affairs private.
Roth IRA inherits tax-free to beneficiaries — consider Roth conversions for assets you plan to bequeath.