May 11th, 2009

5.  Start and keep an accurate inventory of your real property and your valuable personal property. This inventory can be a written, audio, or video recording. Be sure to include the name of the owner for each possession.  Do not forget to update this whenever there are any substantial changes in your possessions.

Keeping an inventory can remove a lot of the uncertainty experienced by the Personal Representative of your estate. It will also assist you in the event of loss due to theft or a natural disaster. Keep in mind, an inventory should not be kept at the same location as the property.