The attorney needs to know the general nature and extent of your assets.  He or she does not need to know which stocks you own, just that you own stocks and bonds, real estate or whatever, and a general idea of their worth.  It will be important to tell the attorney how your assets are held.  For example, is your account at a brokerage firm in joint ownership with right of survivorship with your spouse or another person, or is it held as tenants in common?  For assets and accounts with beneficiary designations, like IRAs, annuities and insurance, you need to know the currently named beneficiaries.   It is especially important to tell your attorney which of your assets are in qualified retirement plans, such as IRAs or 401ks.

Last updated on January 6, 2011 by Glenn Karisch