**Assets** (noun) — All property of any description, whether real or personal, tangible or intangible, owned by or vested in a person at any given time, including but not limited to real estate, financial investments, business interests, superannuation, insurance policies, and personal effects.
Your assets are simply everything you own that has value. This includes obvious things like your home, car, and bank accounts, but also superannuation, business interests, jewelry, furniture, digital assets, and even your unused frequent flyer points.
When you die, your executor's job is to identify and collect all your assets, then distribute them according to your will (or intestacy laws if there's no will).
⏱ When you'll encounter this term
People often underestimate their assets. You might think you don't have much, but when you add up your super, death benefits from insurance, a modest home, a car, and personal possessions, it can total a substantial sum.
Some assets don't form part of your estate and can't be distributed by your will. These include superannuation (which is controlled by the fund's rules and your nomination), jointly owned property with right of survivorship, and assets held in certain trust structures. Understanding which assets you actually control through your will is an important part of estate planning.
**Related terms:** [Estate](/dictionary/estate), Liabilities, [Gross Estate](/dictionary/gross-estate), Net Estate
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"The executor made a list of all of Dad's assets—house, car, bank accounts, shares, and superannuation—worth $850,000 total."