diff --git a/docassemble/ALToolbox/al_income.py b/docassemble/ALToolbox/al_income.py
index e8aa3aa..5633514 100644
--- a/docassemble/ALToolbox/al_income.py
+++ b/docassemble/ALToolbox/al_income.py
@@ -588,23 +588,55 @@ class ALAsset(ALIncome):
 
     def total(self, times_per_year: float = 1) -> Decimal:
         """
-        Returns the .value attribute divided by the times per year you want to
-        calculate. The value defaults to 0.
+        Returns the .value attribute divided by the times per year you want to calculate. The value defaults to 0.
 
-        `times_per_year` is some denominator of a year. E.g, to express a weekly
-        period, use 52. The default is 1 (a year).
+        `times_per_year` is some denominator of a year. E.g, to express a weekly period, use 52. The default is 1 (a year).
+
+        Args:
+            times_per_year (float, optional): The number of times per year to calculate. Defaults to 1.
+
+        Returns:
+            Decimal: The .value attribute divided by the times per year.
         """
         if not hasattr(self, "value") or self.value == "":
             return Decimal(0)
         else:
             return super(ALAsset, self).total(times_per_year=times_per_year)
 
+    def equity(self, loan_attribute="balance") -> Decimal:
+        """
+        Returns the total equity in the asset (e.g., market value minus balance).
+
+        Args:
+            loan_attribute (str, optional): The attribute of the asset to use as the loan value. Defaults to "balance".
+
+        Returns:
+            Decimal: The total equity in the asset.
+        """
+        if getattr(self, loan_attribute, None) is None:
+            return Decimal(self.market_value)
+        return Decimal(self.market_value) - Decimal(getattr(self, loan_attribute))
+
 
 class ALAssetList(ALIncomeList):
     """
     A list of ALAssets. The `total()` of the list will be the total income
     earned, which may not be what you want for a list of assets. To get the
     total value of all assets, use the `market_value()` method.
+
+    Attributes:
+        market_value (float | Decimal): Market value of the asset.
+        balance (float | Decimal): Current balance of the account, e.g., like
+            the balance in a checking account, but could also represent a loan
+            amount.
+        value (float | Decimal, optional): Represents the income the asset earns
+            for a given `times_per_year`, such as interest earned in a checking
+            account. If not defined, the income will be set to 0, to simplify
+            representing the many common assets that do not earn any income.
+        times_per_year (float, optional): Number of times per year the asset
+            earns the income listed in the `value` attribute.
+        owner (str, optional): Full name of the asset owner as a single string.
+        source (str, optional): The "source" of the asset, like "vase".
     """
 
     def init(self, *pargs, **kwargs):
@@ -617,8 +649,18 @@ def market_value(
         exclude_source: Optional[SourceType] = None,
     ) -> Decimal:
         """
-        Returns the total `.market_value` of assets in the list. You can filter
-        the assets by `source`. `source` can be a string or a list.
+        Returns the total `.market_value` of assets in the list.
+
+        You can filter the assets by `source`. `source` can be a string or a list.
+
+        Args:
+            source (Optional[SourceType]): The source of the assets to include in the calculation.
+                If None, all sources are included. Can be a string or a list.
+            exclude_source (Optional[SourceType]): The source of the assets to exclude from the calculation.
+                If None, no sources are excluded.
+
+        Returns:
+            Decimal: The total market value of the assets.
         """
         result = Decimal(0)
         satisfies_sources = _source_to_callable(source, exclude_source)
@@ -635,11 +677,18 @@ def balance(
         exclude_source: Optional[SourceType] = None,
     ) -> Decimal:
         """
-        Returns the total `.balance` of assets in the list,
-        which typically corresponds to the available funds
-        in a financial account.
+        Returns the total `.balance` of assets in the list, which typically corresponds to the available funds in a financial account.
 
         You can filter the assets by `source`. `source` can be a string or a list.
+
+        Args:
+            source (Optional[SourceType]): The source of the assets to include in the calculation.
+                If None, all sources are included. Can be a string or a list.
+            exclude_source (Optional[SourceType]): The source of the assets to exclude from the calculation.
+                If None, no sources are excluded.
+
+        Returns:
+            Decimal: The total balance of the assets.
         """
         self._trigger_gather()
         result = Decimal(0)
@@ -651,14 +700,54 @@ def balance(
                 result += _currency_float_to_decimal(asset.balance)
         return result
 
+    def equity(
+        self,
+        source: Optional[SourceType] = None,
+        exclude_source: Optional[SourceType] = None,
+        loan_attribute: str = "balance",
+    ) -> Decimal:
+        """
+        Calculates and returns the total equity in the assets.
+
+        This method triggers the gathering of assets, then iterates over each asset. If a source or exclude_source is not
+        specified, or if the asset's source satisfies the source criteria, the equity of the asset is added to the total.
+
+        Args:
+            source (Optional[SourceType]): The source of the assets to include in the calculation. If None, all sources are included.
+            exclude_source (Optional[SourceType]): The source of the assets to exclude from the calculation. If None, no sources are excluded.
+            loan_attribute (str, optional): The attribute of the asset to use as the loan value. Defaults to "balance".
+
+        Returns:
+            Decimal: The total equity in the assets.
+        """
+        self._trigger_gather()
+        result = Decimal(0)
+        satisfies_sources = _source_to_callable(source, exclude_source)
+        for asset in self.elements:
+            if (source is None and exclude_source is None) or (
+                satisfies_sources(asset.source)
+            ):
+                result += asset.equity(loan_attribute=loan_attribute)
+        return result
+
     def owners(
         self,
         source: Optional[SourceType] = None,
         exclude_source: Optional[SourceType] = None,
     ) -> Set[str]:
         """
-        Returns a set of the unique owners of the assets.  You can filter the
-        assets by `source`. `source` can be a string or a list.
+        Returns a set of the unique owners of the assets.
+
+        You can filter the assets by `source`. `source` can be a string or a list.
+
+        Args:
+            source (Optional[SourceType]): The source of the assets to include in the calculation.
+                If None, all sources are included. Can be a string or a list.
+            exclude_source (Optional[SourceType]): The source of the assets to exclude from the calculation.
+                If None, no sources are excluded.
+
+        Returns:
+            Set[str]: A set of the unique owners of the assets.
         """
         owners = set()
         if source is None and exclude_source is None:
diff --git a/docassemble/ALToolbox/data/questions/al_income.yml b/docassemble/ALToolbox/data/questions/al_income.yml
index f852143..ba640ef 100644
--- a/docassemble/ALToolbox/data/questions/al_income.yml
+++ b/docassemble/ALToolbox/data/questions/al_income.yml
@@ -846,15 +846,21 @@ fields:
       asset_terms_ordered
     exclude: |
       ['vehicle']
-  - How often do you get this income?: x.times_per_year
+  - Does this asset earn any income (like rent or interest)?: x.has_income
+    datatype: yesnoradio
+  - How often do you get the income?: x.times_per_year
     input type: radio
     code: |
       times_per_year_list
     datatype: integer
-  - Interest or other income from the asset: x.value
+  - Amount of income: x.value
     datatype: currency
   - Who owns this?: x.owner
     required: False
+validation code: |
+  if not x.has_income:
+    x.times_per_year = 1
+    x.value = 0
 ---
 # UNIQUE FOR ALAssetList
 ---