How do you calculate your assets?

Before writing your will it is helpful to calculate the value of your assets, minus any liabilities, and identify the true value of your estate.

Your assets:

• Your home (current market value)
• Other properties, either in the UK or abroad
• Money – in the bank, in building society accounts, in National Savings or in Premium Bonds
• Any money you are owed
• Business assets (including shares in private companies)
• Investments
• Life insurance
• Pensions (lump sums payable on death)
• Your car, motorbike, caravan, boat etc
• The contents of your house
• Any other possessions
• Other assets passing as a result of your death

Take the total of all these assets – this is Total A.

What you owe:

• Your outstanding mortgage
• Your overdraft
• Any loans
• Any other debts

Take the total of all these debts – this is Total B.

The value of your estate is Total A minus Total B.