How to Take Inventory of Valuables

Take inventory of your possessions so that you have a record of your belongings in the event of a fire or theft. Your inventory will change in value and content over time. Update it regularly, or it will lose its relevance.

Difficulty: Easy

Instructions

Things You'll Need:

• Video Cameras

1. Make a list with cost and current value of each item in your home worth more than $500.00

2. Rent, borrow or purchase a video camera, to go room to room in your home, recording visually your assets and posessions.

3. Make a list of jewelry, with cost and current value of each item.

4. Put this list in a fire proof safe or bank deposit box.

Tips & Warnings

• Depending on the value of your inventory, choose homeowners insurance that will adequately insure you against loss due to fire, theft, or other disasters.
• To determine current value of your inventory, look at what it would cost to replace the item, given local merchandiser and catalog prices.
• Safeguard your valuables that can be easily stolen by getting a safe, a guard dog, and/or a security system for your home.

on 8/10/2006 Taking photos of the jewelry pieces assists in doing an inventory. This can be done by using a camera, computer scanner or a regular photocopier.

Taking clear photos of jewelry pieces is difficult using an ordinary camera. Even with the right camera you should be concerned about having prints made of the photos by strangers at the photo lab who then know the contents of your jewelry box/safe/safe deposit box along with your name and address! If you have a digital camera you can print the photos yourself on your computer printer.

- You can scan images of your jewelry pieces individually or as a group into your computer by placing the piece face down on the computer printer/scanner bed. Cover the item with a piece of white fabric like a folded pillow case to block out outside light. "Scan" the image into the computer. After you have scanned the item into the computer you are then able to write a verbal description and you can then insert the photo of each item following your description. That document can then be printed or downloaded to a computer disc for safe keeping.

OR - use a photocopier to print a copy of their image. Again, place all items face down, side-by-side on the copier/scanner screen, and cover them all with a white cloth and print the image. Label the image of each piece with the corresponding number of its written description and attach the print/photocopy to the written itemized list.

You can avoid possible confusion when leaving jewelry pieces to different family members or friends by arranging all pieces to be left to a particular person together and scanning/printing that image, labeling that page with the individual's name and giving it to your attorney for attachment to your Living Trust or Will.