Using the Asset Inventory

The Asset Inventory allows you to add your major assets to your plan to help the executor of your will better handle your affairs and carry out your wishes. Including assets not distributed by your will can help determine if your estate may be subject to an estate tax.

Assets distributed by your will (probate)

  • Bank accounts solely owned by you
  • Real estate solely owned by you or by tenants in common
  • Brokerage accounts solely owned by you
  • Personal property or valuables
Assets NOT distributed by your will (non-probate)
  • Jointly owned bank or brokerage accounts
  • Jointly owned real estate or vehicles
  • 401(k) accounts, pensions, IRAs, etc.
  • Life insurance

For more information about non-probate assets, click here.

How to add your assets

  1. Login to your FreeWill account by selecting 'Login' in the upper right-hand corner of the FreeWill website
  2. Scroll down to the section 'Your Estate Plan'
  3. Select 'View/Edit' of the document you'd like to make changes to
  4. Click 'Assets' on the top navigation bar

Once you're on the Assets section of your last will & testament, you can select which assets you'd like to add. 

  • Financial Account
  • Retirement Account
  • Life Insurance
  • Real Estate
  • Vehicle
  • Brokerage Account
  • Cash/valuables
Each asset you select will then be divided into two sections. Assets that will be distributed by your will between people and nonprofits (probate) or assets that will be distributed outside of your will (non-probate). Non-probate assets will also be listed on a separate document called a Beneficiary Plan to help you keep track of them. 
After you're finished listing your assets, you can select ' Save & Continue' to move on to the next step. 

Disclaimer: FreeWill is not a law firm and does not provide legal advice. While FreeWill strives to ensure that its automated services are complete, they are meant purely as self-help forms. The materials and services are not substitutes for the advice of an attorney.

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