Create a non-financial asset list
The person who named you as executor of the estate should create a list of important non-financial assets as well, such as furniture, artwork, china, silver, jewelry, etc.
If an item is particularly valuable, it might be individually insured. If so, an appraisal was completed on the item (usually jewelry, art, etc.). Include the appraised value of an item in the list. If an item has not been appraised, it might be good to put an estimated value on the items. The easiest way to do this is to record the purchase price of the item, if available
Knowing where an item came from can help in determining its value. For example, a watch with the name Rolex on it purchased from a licensed retailer vs. one purchased from a street vendor can be a valuable piece of knowledge to have. Similarly, it is valuable to know if the watch once belonged to the testator’s father vs. if the testator purchased it personally.
