Why inventory your valuables? An essential step to protect your estate

Protect your valuables: a precise inventory means security,suitable insurance and a smooth transmission.

Anessential reflex to avoid many conflicts and prevent your objects from losingvalue.

Introduction – Value goes beyond price

Whether it’s a piece ofjewellery handed down by a grandparent, a collector’s watch, a bicycle, a workof art or a rare instrument, our valuables embody far more than an amount ineuros. They have a history, an emotional charge, and sometimes a strategicimportance in the make-up of an estate. Yet they are often neglected in the day-to-day management of ourbelongings. This is because the vast majority of an estate consists of realestate and financial assets, with objects generally making up only a small part(less than 15% in financial value). But their perceived value very oftenexceeds the mere “price” of the object.

What does the notion of“valuable object” cover?

An object is a movable good that can betouched, owned and moved. Most people own dozens, even hundreds, of valuableobjects without really realising it. But a valuable object isn’tnecessarily a treasure in everyone’s eyes — it can simply be something youconsider precious, rare or irreplaceable.

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The term covers a wide range ofgoods, generally characterised by several combined elements:

•      their financial value, generally considered in terms ofa market value — that is, the ability to sell it;

•      their rarity or unique character;

•      their fragility or portability (which makes themvulnerable to theft or damage);

•      or their sentimental or symbolic value.

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By way of illustration, we can cite thefollowing categories, which are the most commonly used:

•      Jewellery and watches

•       Works of art: paintings, sculptures,drawings

•      Antique books and manuscripts, stamps, collector’scoins

•      Musical instruments

•      Professional equipment (machines, tools, utensils)

•      Designer or antique furniture, valuable rugs

•      High-end technological devices (audio, cameras, drones)

•      Bottles of wine

•      Clothing and bags

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Of course, the concept of avaluable object is flexible, and it’s up to you to document it as such, to giveit the place it deserves in your estate. Any object, or set of objects, can fitthe definition if you decide so. If it has value to you, then it should bedocumented.

At least four good reasons to create an inventory of your objects

a) To guard against theft orany loss (fire, water damage, or following an accident)

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In the event of a burglary, fireor water damage, having a precise inventory allows you to:

•      quickly provide proof of ownership to your insurer;

•      obtain compensation matching the real value of thegoods;

•      speed up the handling of your claim.

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b) To meet insurancerequirements

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Most insurers require:

•      proof of possession (photos, invoices, certificates);

•      proof of ownership (because if you are not the owner,it can be difficult to be compensated after the fact).

And they impose specific coverlimits for valuables.

A rigorous inventory istherefore essential to:

•      properly calibrate your home or valuables insurancecontract;

•      justify the presence of a specific object, especiallyif it was acquired long ago or passed down without an invoice.

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c) For better wealth andestate management

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By clearly identifying valuableobjects, their location and their estimated value, you make it easier to:

•      have an overall view of your movable estate;

•      adjust insurance policies to the value of your objects,ahead of any loss;

•      organise a smooth transmission (bequests, gifts, fairdivision among heirs);

•      handle any appraisals.

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d) For your peace of mind

A well-structured inventorybrings a sense of control. You know what you own, where it is, and how toprotect or pass it on.

Conclusion: a simple reflex for a better-protected estate

Inventorying your valuablesmeans protecting far more than things. It means preserving a memory, organisingyour future, and sparing yourself nasty surprises. Inventorying your valuablesis therefore nothing more than good practice for anyone who wants to protectand enhance their estate. In a world where risk is ever-present, documenting isthe best way to stay in control of your objects and to be optimally organisedfor any future eventuality.

At Objectory, that’s the mission we’ve set ourselves: to offer you a simple, accessible and secure tool that lets you fully manage the data of your valuables with complete peace of mind.