I have a completely different take on NW... the BQ.
The Burger Quotient (BQ) is a number which indicates that maximum lifestyle (after tax, after inflation) which, if sustained, will (just) take you out to age 95, at which point your capital runs out. It takes not only your existing capital (reg/nonreg/equity/txfree), but it includes your 'salary capital'... your career as represented by paychecks coming at you over time, as well as any future windfall revenue, selling the cottage, any inheritance you reasonably might expect.
In order to make it uniform, you have to artificially 'sell' your residence now, and pay off any loans.
The beauty of this measure, as opposed to NW, is that it is determined irrespective of age.... you can be just starting out, nearly retired or fully retired.
The only thing that needs to be standardized is that you need to set a horizon age, a rate of return and an inflation rate. (age 95, 6%, 2%, say)
Much more meaningful, IMHO.