Taking Inventory of Your Assets: A Crucial First Step
Good afternoon, San Diego. Today we’re joined by probate attorney Steve Bliss from San Diego Probate Law. Steve, thank you for taking the time to speak with us.
Steve, can you walk us through some of the key steps involved in estate planning? We know it can seem overwhelming, so where should people begin?
Steve:
It’s a pleasure to be here. Estate planning is indeed crucial for everyone, regardless of their age or wealth. Ordinarily, I advise clients to start by taking a complete inventory of their assets. This means listing everything you own, from real estate and investments to bank accounts and personal belongings.
Many people underestimate the value of seemingly insignificant items. Consequently, it’s important to be thorough. Consider creating a spreadsheet or using an online tool to categorize your assets. Remember to include:
- Real estate
- Vehicles
- Investments (stocks, bonds, retirement accounts)
- Bank accounts
- Personal property (jewelry, art, collectibles)
Steve:
This initial inventory lays the groundwork for the rest of your estate plan. It helps you understand your financial picture and identify potential areas of concern.
I recall one instance where a client assumed their modest collection of antique furniture held little value. After appraising it, we discovered it was worth tens of thousands of dollars – something they hadn’t considered when initially planning their estate.
Moreover, accurately valuing your assets is essential for tax purposes and ensuring your beneficiaries receive the intended inheritance.
A 2019 study by Caring.com found that nearly 60% of Americans don’t have a will or trust in place. Neglecting this crucial step can lead to unintended consequences and potential family disputes down the road.
So, taking inventory is truly a foundational step towards securing your legacy and protecting your loved ones.
Call to Action
Ready to take control of your future? Contact San Diego Probate Law today for a free consultation and let us guide you through the estate planning process.
Testimonials
“Working with Steve Bliss was a game changer. He patiently explained every detail and helped me create a comprehensive estate plan that gave me peace of mind.” – Maria S.
“I highly recommend San Diego Probate Law for their professionalism, expertise, and compassion. They made a difficult process much easier to navigate.” – John D.
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: “Is probate expensive and time-consuming in California?” Or any other related questions that you may have estate planning or my estate planning law practice.
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