First - property to typically broken into two categories, Real and Personal. In Law School I heard that an easy way to understand what Real Property is if you can move it it's likely Personal Property - everything else is Real Property.
In every day Americana and in the context of Bankruptcy Real Property is the home you live in, and Personal Property consists of what you would consider your personal possessions. Real Property is easily inventoried, however, Personal Property make take a little bit of time.
It is important that you capture the extent of your belongings, from socks to lawn mowers. The easiest way that I have found to do this is approach the task room by room. Start in the kitchen and develop a list of the pots and pans, silverware, furniture, etc. Keep in mind that the stove and dishwasher likely came with the house and are part of your Real Property. Then keep the process moving room by room.
We developed a spreadsheet that provides a handy format for capturing the list. Once you have the list then you will need to place a value to your property. This is the replacement value - what you could buy it for from a retail vendor considering its condition and age.
Keep in mind that stocks and bonds, insurance policies, jewelry, cars, collectables, etc., are all considered Personal Property. Tax Returns are also required to be listed.
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