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.