JD-FM-6H Rev. 2-16
Total Net Value of Real Estate
If you have more than one property, add up the value of your interests in all your real estate and put the total
amount of all of the properties combined where it says total net value of real estate.
a. Value
This is the estimated value of your motor vehicle.
c. Equity
This is the estimated value of your car minus the loan balance. For example, if the value of the car is $2000
and the loan balance is $1500, then you own $500 equity in your car.
d. Value of Your Interest
This is the amount of equity, calculated in section c., divided between the owners of the vehicle on a
percentage basis. To calculate the value of your interest, first determine what percent of the vehicle you own.
For example, if you own the vehicle by yourself, you own 100% of the vehicle. If you own the vehicle equally
with one other person, you own 50% of the vehicle. Use that percentage to calculate what percent of the
equity belongs to you. For example, if you own 100% of the vehicle and there is $1,000 in equity, the value of
your interest is $1,000. If you own 50% of the vehicle and there is $1,000 in equity, the value of your interest is
$500.
Total Net Value of Motor Vehicles
If you have more than one motor vehicle, add up the value of your interests in all your motor vehicles and put
the total amount of all of the accounts combined where it says total net value of motor vehicles.
Bank Accounts.
If you have money in a bank account, state the bank name and the amounts on deposit under the
corresponding type of account (for example, “checking” or “savings”). (Note: If you keep a checking account
only for paying bills, write “only for paying bills” and put the average monthly balance).
Value of Your Interest
This is the amount of the bank account divided among its owners on a percentage basis. To calculate the
value of your interest, first determine what percent you own. For example, if you own the account by yourself,
you own 100%. If you own it equally with one other person, you own 50%. Use that percentage to calculate
what percent of the account that belongs to you. For example, if you own 100% of the account and its value
$1,000, the value of your interest is $1,000. If you own 50% of the account and its value $1,000, the value of
your interest is $500.
Total Net Value of Bank Accounts
If you have more than one bank account, add up the total value of your interests in all your bank accounts in
them and put the total amount of all of the accounts combined where it says total bank accounts.
Total Net Value of Stocks, Bonds, Mutual Funds.
If you have more than one, add up the amounts you have in them and put the total amount of all of the
accounts combined where it says total net value of bonds, mutual funds, bond funds.
E. Insurance.
This section is for disability insurance and life insurance you own on your own life or on someone else's life.
Put the name of the insured person and the name of the company that issued the policy. There are two types
of life insurance: term and whole life. A term life insurance policy does not build cash value from which you
can borrow. It only pays money when the person who is insured dies. The policy is cancelled when you stop
making payments. A whole life insurance policy requires you to make monthly payments for a specified
number of years. At the end of that time, the policy is paid for and no more monthly payments are needed.
The policy will have a cash value which you can borrow from.
Current Balance/Value
This is the cash value amount of the insurance policy that you would receive if you borrowed on the policy or
cancelled it. If you don't know the cash value, call your insurance company or agent for the information. (Note:
if you have term insurance or there is no cash value to your disability policy, the cash value is “0.”)