In addition to the definitions provided by Webster below, "assets" is contemporary American slang for a woman's curves. While generally considered more socially acceptable than, say, "jugs", it is still probably not the word to use in extremely polite settings such as one's great-grandmother's house or the more politically correct portions of California.

I have also used it heard to describe a man's package, but this usage appears to be far rarer.

See also asset.

As"sets (#), n. pl. [OF. asez enough, F. assez, fr. L. ad + satis, akin to Gr. enough, Goth. saps full. Cf. Assai, Satisfy.]

1. Law (a)

Property of a deceased person, subject by law to the payment of his debts and legacies; -- called assets because sufficient to render the executor or administrator liable to the creditors and legatees, so far as such goods or estate may extend.

Story. Blackstone. (b)

Effects of an insolvent debtor or bankrupt, applicable to the payment of debts.

2.

The entire property of all sorts, belonging to a person, a corporation, or an estate; as, the assets of a merchant or a trading association; -- opposed to liabilities.

⇒ In balancing accounts the assets are put on the Cr. side and the debts on the Dr. side.

 

© Webster 1913.