Compilation of Personal Asset & Liability Statements
For Wealth Protector and Wealth Manager clients, we will include a compiled statement of assets & liabilities as part of your management fee. We are also available to prepare a statement of assets & liabilities for Wealth Builder clients, as well as individuals and couples on an hourly rate basis.
Compilation of Personal Asset & Liability Statement:
Marquis will prepare an Assets & Liabilities Statement, based on information provided by you, which includes all assets such as: checking/savings accounts, money market accounts, cash value of life insurance, investments, real estate, trusts, personal property, businesses, etc. and all liabilities such as: mortgages, auto loans, student loans, credit cards, notes payables, etc.
Most assets will be valued using fair market or current market value. If the information is provided, the statement may also include cost basis and all life insurance policies including death benefit, insured, beneficiary, and cash value; this information is most helpful when estimating one’s estate tax situation.
While preparing your Personal Asset & Liability Statement, we pay close attention to the titling of all assets and liabilities. This information may be helpful for purposes of tax and estate planning. The statements are also useful when applying for financing, re-financing, or consulting with an Estate Planning Attorney, Insurance Agent or other professional.