Add Up Values of Oil, Gas and Mineral Rights
Oil, gas and mineral rights can also be difficult to value without a formal appraisal. Start by taking a look at any statements received for these interests, or add up the income received from these interests over the past year. If the interest was inherited, check with family members to see if they can give you an estimated value. Once you've figured out a value, add it to the appropriate column of the chart by using the guidelines provided for bank and investment accounts.
Add Up Values of Real Estate
Real estate can also be difficult to value without a formal appraisal. Check out websites such as zillow.com to get an estimate of the fair market value, or check local listings in your newspaper for similar properties that have been sold in the area. Another resource is the property tax bill which will give the city or county's current estimate of the value of the property. Once you've figured out a value, add it to the appropriate column of the chart by using the guidelines provided for bank and investment accounts and list the total balances of all of your mortgages in the "Liabilities" column.
Calculate Your Net Worth
Now that you've filled out the chart, add up all of the numbers in each column. Next, take the totals you've calculated in your column, your spouse's/partner's column, and the joint column and add these numbers together. Next, take this combined total and subtract from it the total number listed in the "Liabilities" column. Finally, take this number and list it on the line marked "Net Worth." And that's it, you've officially calculated what you and/or your spouse/partner are currently worth.
