Feature Article: Law Practice Management Series
by Mary G. Anderson, Life Management Consulting Group
There are many ways to encourage your clients to complete (and update) a household inventory of their belongings and assets. Here is one simple method that works very well and can easily be completed in a weekend. Begin by taking a camera or video and go through each room of the house, one by one, and photograph each angle of the room including inside cupboards, closets, storage areas, etc.
When your client downloads the photos or video to their computer it is easy then to make a digital copy of the inventory information to give to the insurance agent Family Estate Planning Attorney and to keep another copy offsite in case of fire, etc.
1. Start with a list of the rooms in the home, such as:
- Family Room
- Living Room
- Kitchen
- Dining Room
- Garage
- Bedroom 1, Bedroom 2, Bedroom 3 etc.
- Laundry Room
- Sun Room
- Porch/Mud Room
- Yard/Storage Shed
The client may also want to consider recording additional items such as:
- Vacation Home, Cabin, and Beach House etc.
- Business Office (s) Décor, Equipment, Machines, Furniture, etc.
- Vehicles (automobiles, boat, motorcycle, plane, etc.)
- Valuables (art, jewelry, collectibles, antique books, etc.)
2. Include a detailed description of the contents of each room, for example:
Living Room
- Bookcase/books
- Chairs
- Clocks/lamps
- Couches/sofas
- Decorations/pictures/vases
- Desk
- Drapes/curtains
- Entertainment center
- Compact discs/record albums
- Cassette recorder
- Rugs
- Tables
- TV/Video equipment
- Other
3. Describe each item/object with these details:
- Description of Item/Object…
- Date of Purchase…
- Place of Purchase…
- Original Cost…
- Replacement Cost…
- Gifted to Name…
4. Consider documenting the location of improvement/repair records, especially roof repair, water system, plot plans, maps and surveys, architectural drawings and any other relevant documents, including contracts with contractors, service agreements, warranties, etc.:
5. Finally, document the location of this important emergency household property:
- House Keys
- Household Safe
- Alarm System
- Water turnoff
- Gas turnoff
- Fire extinguisher
- Smoke alarms
Quote To Ponder
“Nobody can go back and start a new beginning,
but anyone can start today and make a new ending.”
~Maria Robinson
About the Author:
Mary G. Anderson, is the Program Director at Advanced Legal Training Institute. She also provides client service programs through her company, Life Management Consulting Group. Many estate-planning attorneys have clients that are in need of guidance and support as they manage their elder years. Mary offers 1-on-1 coaching support for families that are facing some of the challenging aspects of end-of-life/eldercare such as choosing/evaluating a nursing home/assisted living center, professional organizing of important papers and documents, estate settlement and support with funeral planning, grief and loss. These consulting services assist clients who are either in 1) the midst of handling a death of a loved one and executing their estate and/or ) a client who has decided to get organized and plan ahead by completing their will, organizing their important papers, completing a checklist of final wishes and creating a legacy will. Mary is the author of “My Estate Management Guide”, “Pet Protection Legal Care Plan: Financial and Legal Planning to Protect Your Companion Pet” and a Certified Mediator & Estate Settlement Agent.
