Taking Inventory of Assets in Estate Planning
Good afternoon, San Diego. Today we’re joined by probate attorney Steve Bliss of San Diego Probate Law. Steve, thanks for being here.
Steve Bliss: Thanks for having me.
Getting Started: The Importance of Asset Inventory
Let’s talk about the first step in estate planning, which you say is often overlooked. Can you explain why taking inventory of assets is so crucial?
Steve Bliss: Absolutely. Ordinarily, people think about their house or car when they think of assets. But a complete asset inventory includes everything from bank accounts and investments to personal belongings like jewelry and art. Consequently, it’s important to be thorough.
Think of it as taking a financial snapshot of your life. This detailed list helps determine the overall value of your estate and ensures that nothing is missed when distributing your assets according to your wishes. Moreover, having this information readily available makes the probate process smoother for your loved ones during a difficult time.
I remember one instance where a client thought they only had a modest estate. After a thorough inventory, we discovered they owned valuable antique furniture that significantly increased the estate’s value. Not surprisingly, their beneficiaries were incredibly grateful that these assets were accounted for.
According to the AARP, 60% of Americans do not have a will or an estate plan. This highlights how important it is to take proactive steps in securing your legacy and ensuring your loved ones are taken care of.
Addressing Potential Challenges
Are there any common challenges people face when taking inventory?
Steve Bliss: Yes, sometimes people struggle with accurately valuing certain assets. For instance, antiques or collectibles can be tricky to assess. In these cases, it’s often beneficial to consult with experts for appraisals.
Additionally, emotional attachment to possessions can make it difficult to objectively categorize them. It’s important to remember that the goal is to create a comprehensive and accurate list, not to judge the sentimental value of each item.
Embracing Peace of Mind
Steve Bliss: Taking inventory might seem daunting at first, but the peace of mind it brings is invaluable. Knowing your estate is organized and accounted for will provide comfort for both you and your loved ones in the future.
For anyone looking to ensure their wishes are honored and their loved ones are protected, I encourage you to contact San Diego Probate Law today. We’ll guide you through every step of the process with compassion and expertise.
Testimonials
“Steve Bliss made a difficult time so much easier for our family. He was patient, knowledgeable, and truly cared about helping us navigate the probate process.”
– The Jones Family
“I was overwhelmed by the thought of estate planning, but Steve explained everything clearly and helped me create a plan that met my specific needs. I highly recommend San Diego Probate Law.”
– Sarah M.
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: “Can I exclude a spouse from my estate plan?” Or any other related questions that you may have estate planning or my estate planning law practice.
Important Facts About San Diego Probate Law
| California Living Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Living Trust Lawyer California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Living Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Living Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Living Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Living Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |