This worksheet is designed to help you organize your personal finances by listing your assets (things you own) and liabilities (debts or money you owe). Since no specific numbers or data were provided in the image, we can’t calculate exact totals — but I’ll show you how to fill it out correctly so you can do it yourself with your own information.
Let’s break it down section by section:
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1. REAL ESTATE Section
You’re being asked to list details about any property you own (like a house, condo, land, etc.). For each property, you need to write:
- Address
- Date purchased
- Purchase price
- Down payment
- Remaining loan balance
- Monthly mortgage payment
- Taxes & insurance (annual or monthly? Usually annual unless specified)
- Current market value (what it’s worth today)
- Present market value (same as above — maybe they want current appraisal?)
Then, at the bottom of this section, there’s a line for “Other Real Estate” — use that if you have more than one property.
👉 Example:
If you bought a house for $200,000, put $50,000 down, and still owe $140,000 on the loan, you’d write those numbers in the right spots. If the house is now worth $220,000, that goes under “Current Market Value.”
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2. VEHICLES Section
List all vehicles you own — cars, motorcycles, boats, RVs, etc.
For each vehicle (labeled A, B, C...), write:
- Year made
- Make/Model (e.g., 2020 Toyota Camry)
- Time to pay off (if you’re still making payments — e.g., “3 years left”)
- Market Value (what you could sell it for today)
- Loan Balance (how much you still owe on it)
- Who Uses It (you, spouse, child, etc.)
👉 Example:
Vehicle A: 2018 Honda Civic, 2 years left on loan, market value $15,000, loan balance $8,000, used by “Me”
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3. BOATS, TRAILERS, MOTORCYCLES AND RECREATIONAL VEHICLES Section
Same idea as Vehicles — just for fun stuff like boats, campers, ATVs, etc.
Again, for each item (a, b, c...):
- Year
- Make/Model
- Time to pay off
- Market Value
- Loan Balance
- Who Uses It
👉 Example:
Boat a: 2019 Sea Ray, paid off, market value $25,000, loan balance $0, used by “Family”
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✔ How to Finish This Worksheet:
Since no actual numbers are given, here’s what you should do:
1. Fill in your real info for each category.
2. Add up the “Market Value” columns for Assets (Real Estate + Vehicles + Recreational).
3. Add up the “Loan Balance” columns for Liabilities (same categories).
4. Subtract total liabilities from total assets → that’s your Net Worth!
Example Calculation (made-up numbers):
Real Estate Market Value: $300,000
Vehicles Market Value: $40,000
Recreational Market Value: $30,000
→ Total Assets = $370,000
Real Estate Loan Balance: $150,000
Vehicles Loan Balance: $10,000
Recreational Loan Balance: $0
→ Total Liabilities = $160,000
Net Worth = $370,000 - $160,000 =
$210,000
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Final Answer:
[No numerical answer possible without user-provided data — follow steps above to complete using your own financial information.]
Parent Tip: Review the logic above to help your child master the concept of equitable distribution worksheet.
