Taking Inventory of Assets
Good morning, Steve, and thank you for joining us today. I’d like to discuss a crucial aspect of estate planning: taking inventory of assets. Why is this step so important?
Steve Bliss: Taking inventory of assets is the cornerstone of any sound estate plan. It involves creating a comprehensive list of everything you own, from your primary residence and vacation homes to bank accounts, investments, retirement funds, vehicles, jewelry, art, and even digital assets.
Consequently, having a clear understanding of your asset base enables you to make informed decisions about how those assets should be distributed after your passing. Moreover, it helps avoid potential disputes among heirs by ensuring everyone is aware of what exists and its estimated value.
I’ve seen instances where families were left scrambling to locate important documents or determine ownership of certain assets after a loved one passed away. This can lead to significant delays, added stress, and even legal complications.
Notwithstanding these challenges, there are simple ways to make the process easier. I recommend clients create a spreadsheet or use an online asset management tool to keep track of their belongings. Updating this inventory regularly ensures accuracy and minimizes surprises down the road.
Research from the AARP Foundation indicates that approximately 60% of adults have not created a written list of their assets, highlighting the widespread need for better estate planning practices.
A Personal Touch
I remember one client who inherited her grandmother’s antique jewelry collection but had no idea what it was worth or even where to start looking for appraisals. It turned out to be a valuable asset that she could use to support herself financially.
Seeking Professional Guidance
Steve Bliss: San Diego Probate Law is committed to guiding our clients through every step of the estate planning process, ensuring their wishes are clearly documented and their loved ones are protected.
Contact us today for a free consultation so we can help you build a comprehensive estate plan tailored to your unique needs and goals.
Testimonials
“Steve Bliss was incredibly patient and understanding when helping me navigate the complex process of probate after my father’s passing. He explained everything clearly and made sure I felt comfortable every step of the way.”
– Jessica S., San Diego, CA
“I highly recommend Steve Bliss and San Diego Probate Law. They are experts in estate planning and have a compassionate approach that makes a difficult process much easier to manage.”
– Michael R., Carlsbad, CA
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Estate Planning Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What is a HIPAA authorization and why do I need it?” Or any other related questions that you may have estate planning or my estate planning law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |