- 1). Gather documents and statements related to your assets and debts. These documents will provide you with the information you need to help you more accurately determine your net worth. Grab financial statements for your bank accounts, retirement accounts and any other financial accounts or investments. Determine and write down the market value of your automobile, home and possessions. Locate documents related to your debt, such as those related to loans and credit cards.
- 2). Write down and tally up your assets. Include a description and the market value of the asset when you make the list. Use current market data to estimate the current market value for things such as stocks and bonds, or call your stock broker for assistance in determining the value. List only items of value, such as jewelry and antiques. Add up the total value of your assets and make note of the calculation.
- 3). Write down and calculate your total debt. Include a description of each debt along with the total amount outstanding on the debt. Remember to include student loans and any loans you took out against an investment, such as a loan from your retirement account. Add up all of your debt and write the calculation down.
- 4). Calculate your net worth. Locate the number you calculated for your total assets and deduct your total debt. This will provide you with your net worth for estate planning purposes.
- 5). Make time each year to revisit your net worth statement. This will allow you to keep an eye on changes over time and revise your directives if necessary.
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