An Asset Catalog is a list of those items you value, that might benefit you or your beneficiaries.
To be clear, we can break down a list of assets into more than one category: we might have collectibles (art, jewelry, historic documents, baseball cards, photos, etc.) or active assets (investments e.g. stocks, bonds, livestock, rental properties, etc.). These are the obvious to most of us. Certainly there are more categories you might create in your catalog.
We might also have insurance policies; “risk management contracts” such as life insurance or Long-Term Care policies. These have presumably cost something (premiums) and are waiting to be called into service. Is there a chance that these are lost if not positioned here? Yes. If the holder of a policy (that requires a continuing premium payment) becomes “forgetful”, that forgetfulness can lead to a lapsed policy. If survivors, caretakers or beneficiaries are unaware of the existence, even those policies no longer requiring premiums can go unclaimed.
Heir Atlas is a platform to list all of those assets and to create a link to “Trusted Parties” for your benefit, and for your heirs.