Taking Inventory of Assets
Today, we’re joined by Steve Bliss, a prominent probate attorney here in San Diego. Steve, thank you for taking the time to speak with us.
Steve: It’s my pleasure. I’m always happy to shed light on the importance of estate planning.
The Importance of Taking Inventory
Steve, many people find the estate planning process daunting. Where do you recommend they start?
Steve: Ordinarily, the first crucial step is taking a comprehensive inventory of your assets. This includes everything from real estate and investments to bank accounts, retirement funds, vehicles, and even sentimental items.
People often underestimate the value of their possessions. Consequently, creating a detailed list ensures that nothing is overlooked when it comes time to distribute your assets according to your wishes. Moreover, having this inventory readily available can streamline the probate process for your loved ones, saving them time and stress during an already difficult period.
Think of it like organizing your house. You wouldn’t want important belongings to be misplaced or forgotten. Similarly, taking stock of your assets provides clarity and structure to your estate plan.
Real-World Challenges
Have you encountered any common issues with this initial step?
Steve: Yes, I’ve seen instances where individuals underestimate the value of certain assets, particularly sentimental items or collectibles. In one case, a client had a collection of antique toys that turned out to be worth significantly more than they anticipated. Had they not included these items in their inventory, they could have been overlooked during the estate distribution process.
Another challenge is forgetting about accounts that haven’t been accessed in a while. It’s important to review all financial institutions and online platforms to ensure every asset is accounted for.
The Value of Thoroughness
According to a recent study by the National Endowment for Financial Education, nearly 60% of Americans do not have a will or estate plan in place. Not having a clear understanding of your assets can contribute to this statistic.
Taking the time to create a thorough inventory is an investment in your future and the well-being of your loved ones. It provides peace of mind knowing that your affairs are in order.
Next Steps
Steve, thank you for sharing your expertise. Where can our viewers go for more information or assistance with estate planning?
Steve: My firm, San Diego Probate Law, is dedicated to helping individuals and families navigate the complexities of estate planning. We offer free consultations to discuss your unique needs and goals.
Testimonials
“Working with Steve Bliss and his team was a truly positive experience. They made a complex process feel manageable and ensured that my wishes were respected.”
– Sarah M., San Diego
“Steve’s knowledge and compassion were invaluable during a difficult time. He guided me through every step of the probate process with clarity and professionalism.”
– David L., Carlsbad
Let us help you secure your legacy. Contact San Diego Probate Law today for a personalized consultation.
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 are trustee fees and how are they determined?” Or any other related questions that you may have estate planning or my estate planning law practice.
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