- List every asset you own and its current title or beneficiary30 min
This step produces a complete inventory of every asset you own along with its current legal title and any named beneficiary. This list is the factual foundation for every document you draft later. The hard part is not writing the list — it is tracking down the deeds, beneficiary forms, and account statements that tell you how each asset is currently held.
Work through each category:
Real estate — Find the deed (from your closing papers or the county recorder’s website). Write down the vesting: joint tenancy with right of survivorship, tenancy by the entirety (spouses only), tenants in common, or sole owner. The deed controls, not the mortgage.
Retirement accounts — Log into each 401(k), 403(b), IRA, and Roth IRA. Go to the beneficiary page and record the primary and contingent beneficiaries and the percentage splits.
Life insurance — Check the declarations page or the carrier’s online portal for each policy, including employer group life. Record the face amount and the beneficiaries.
Bank and brokerage accounts — Check whether a payable-on-death (POD) or transfer-on-death (TOD) beneficiary is on file. Most accounts have none, which means they will go through probate.
Vehicles — Check the certificate of title for each car, motorcycle, boat, or RV. If jointly owned, note whether the names are joined by “and” (both must sign to sell) or “or” (either can sell).
Personal property of value — List items worth roughly $1,000 or more: jewelry, art, musical instruments, firearms, antiques, collectibles, furniture. These have no beneficiary form — the will controls them.
Business interests — If you own part of an LLC, corporation, or partnership, record your ownership percentage and any buy-sell agreement. (A business interest is a red flag — see Step 4.)