Clear And Caring Counsel
Brock Zettle Legal Team

4 ways to remember all of your assets for Texas estate planning

On Behalf of | Apr 16, 2024 | Estate Planning |

Keeping track of all your assets for estate planning in Texas can seem tricky, especially if you possess a considerable amount of wealth. Assets that people may commonly overlook include valuable personal belongings such as jewelry, cryptocurrency, business interests and retirement plans from long ago.

However, a systematic approach and attention to detail helps ensure that you remember all of your assets.

1. Create detailed inventory lists

List all of your assets in categories such as real estate, investments, bank accounts, retirement accounts, vehicles, valuable personal belongings and any other significant holdings. In each category, provide detailed descriptions, including account numbers, account holders and approximate values.

2. Use technology

Take advantage of digital tools and software for asset management. Many apps and online platforms allow you to input and organize your assets securely. You have easy access and can make updates when necessary.

3. Maintain updated records

Regularly review and update your asset inventory to reflect any changes in ownership, value or status. This ensures that your estate plan and list of assets remain accurate and comprehensive over time.

4. Document key milestones

Review your major life milestones, such as when you purchased homes, changed jobs or started businesses. These events often coincide with the acquisition of significant assets.

Doing these things should help you account for overlooked assets. By staying proactive about cataloging your assets, you can make the future easier.