Estate Planning Using Home Inventory

Making your estate plan? Only you know what you want to happen with your valuables during the execution of your will. The best way to leave clear instructions is to work with your lawyer and provide detailed documentation of your property. Information you can provide in your home inventory to be used with your estate plan/will are:

• Photographs of each item
• Purchase, Appraisal, and Warranty information
• Detailed descriptions
• Notes / special instructions for each ite - even the people's names you want to designate receiving the item

Record-It Home Inventory service is recommended by financial planners to easily identify valuables when making estate plans.

Asset Valuation

Do you know if you will get the right settlement from your insurance claim? Reviewing your assets and their total value will give you the information needed to then review your policy for correct coverage.

You'll need to estimate how much that item would cost to replace, not how much it may have cost you when you first bought it. Keep in mind that something like clothing or computers may depreciate over time while other things like record collections may gain in value.

The more information you have about your damaged possessions, including the make and model or a description of the item, the faster your claim generally can be settled.

It would also be helpful to have photos of your home both before and after the disaster. The digital images and comprehensive reports provided by your home inventory professional will help facilitate the claims process and ensure that no items are forgotten.