Balance Sheet - Insurance (BETA)

The Balance Sheet is a dedicated household-level tab in Holistiplan that gives advisors a complete picture of a client’s assets and liabilities in one place. More than a simple net worth statement, it powers downstream analysis in P&C Insurance and planning by allowing users to indicate which assets are creditor-accessible and which are protected under federal and state law.

When fully populated, the Balance Sheet tells the full financial planning story, showing how asset structuring decisions affect a client’s insurance needs and overall risk posture.

Why It Matters

Asset structuring directly impacts liability exposure. The Balance Sheet provides data to evaluate key risk questions:

• Creditor Exposure: Which assets are exposed to claims if an uninsured loss occurs?
• Umbrella Sizing: Is umbrella coverage adequately sized relative to at-risk net worth?
• Jurisdiction Gaps: Do foreign assets fall outside U.S. carrier coverage territories?

This data feeds directly into the Umbrella Policy Details section of the P&C report via the Populate from Balance Sheet (Total No Asset Protection) button.

Enable Balance Sheet

To enable the Balance Sheet,  a Firm Admin can go to Settings > Features & Tools and locate the
Balance Sheet toggle under P&C Insurance Permissions.

The Balance Sheet then appears as a new tab within the Household screen, in the left-hand navigation panel alongside Details, Notes, Permissions, and other household-level sections.

Populate the Balance Sheet

Users can populate and update the Balance Sheet manually or via bulk upload.

Bulk Upload

To use bulk upload, download the appropriate template for assets or liabilities by hovering over the Upload button on the Balance Sheet to access the template download link for your preferred type, either CSV or Excel.

Once the template is filled in, select Add From CSV or Add From Excel on the Balance Sheet. 

Examples of populated files can be found here:

- Example Asset File

- Example Liability File

• Required: Name, Asset Type.
  • Outside USA: Flags assets that U.S. carriers may exclude from liability coverage.
  • State: Applies state-specific asset protection rules (e.g., homestead exemptions).
  • Titling: (JTWROS, TOD, Tenants in Common, Tenants by Entirety, Other) Determines legal exposure to judgments.
  • Asset Protection Override: Check this box to mark an asset as protected from creditors. This moves the asset value from No Asset Protection to Asset Protection in the summary tiles.Recommended P&C Fields:
  • Reserved Fields (No current report impact): Institution, Roth Projection fields, Estate Planning fields.

Updating Existing Values

When updating values in bulk, start by downloading the template directly from the Balance Sheet. The template will pre-populate with the assets or liabilities already in the household, allowing edits to the existing data, rather than building from scratch.

Before uploading, review the file and delete any rows that should not be updated. Leaving a row in the file without a value and date will produce an error on that row.

For rows that should be updated:

• Value: enter a plain number with no formatting -- no commas, dollar signs, or decimals unless needed (e.g., 875000 not $875,000)
• Date: must be formatted as YYYY-MM-DD (e.g., 2026-08-26) -- other date formats will fail

Once the file is ready, click Update Values. The import results modal will show which rows succeeded and which failed, along with the reason for any failures.

Ownership

Edit ownership for an asset by clicking Edit to the right of the asset in question

• Navigate to the Owners page
• Select client(s) from the household dropdown.
• Adjust ownership percentage per client.
• Click Add Owner to proceed.

Connecting Balance Sheet to Insurance Umbrella Policy

The Balance Sheet directly feeds the Umbrella policy section of the P&C Insurance report. Within the Umbrella Policy Details modal, advisors will see an Estimated At Risk Value field with a Populate from Balance Sheet (Total No Asset Protection) button.

As advisors build out the Balance Sheet, the Asset Protection Override field feeds a running Total No Asset Protection figure, which represents the household assets a creditor could potentially reach in a liability judgment. When an advisor selects the button, that figure populates the Estimated At Risk Value field, which Holistiplan uses to assess whether the client’s umbrella limit is adequate relative to their at-risk net worth.

Frequently Asked Questions

Does the Balance Sheet sync automatically with the Umbrella section?

No. The Populate from Balance Sheet button is a one-time pull. If you update the Balance Sheet after the initial pull, you’ll need to click the button again to refresh the umbrella’s Estimated At Risk Value.

Can I upload assets in bulk?

Yes. Download the CSV Template or Excel Template, fill it in, and upload using Add From CSV or Add From Excel. Make sure the file format matches the button you select; uploading a CSV into the Excel option will produce an error.

What does “Asset Protection Override” mean?

It signals that an asset has legal protection from creditors under state or federal law, for example, a homestead-exempt primary residence or a protected retirement account. Checking this box removes the asset from the “No Asset Protection” total used in the umbrella calculation. Because protection rules are state-specific, advisors are responsible for confirming applicability before checking this box.

What happens if an asset is outside the U.S.?

Foreign assets may fall outside the coverage scope of a client’s U.S.-based umbrella or liability policy, since some carriers restrict coverage to the U.S. and its territories.