Taking Inventory of Your Assets: The First Step in Securing Your Future
Welcome back to the show, folks. Today we’re joined by esteemed probate attorney Steve Bliss of San Diego Probate Law. Steve, thank you so much for joining us.
Steve, let’s dive right into estate planning. For those just starting out, what is the first crucial step?
Taking Stock: A Comprehensive Asset Inventory
The foundation of any sound estate plan lies in understanding what you own. Ordinarily, I advise clients to begin with a thorough inventory of all their assets. This includes everything from tangible possessions like real estate and vehicles to intangible assets such as investments, retirement accounts, and intellectual property.
Moreover, it’s essential to document the value of each asset. For instance, obtaining recent appraisals for real estate or reviewing account statements can provide an accurate picture of your financial standing. Consequently, this comprehensive inventory forms the basis for informed decision-making during the estate planning process.
A common misconception is that estate planning is only for the wealthy. Nevertheless, even individuals with modest assets can benefit significantly from a well-crafted plan. Remember, it’s not just about distributing your belongings; it’s also about protecting your loved ones and ensuring your wishes are honored.
Facing Challenges: When Asset Identification Becomes Complex
There have been instances where clients struggle to locate all necessary documentation for their assets. For example, I once worked with a client whose grandmother had passed away leaving behind several antique pieces of jewelry. While the family knew about some items, they were unaware of others stashed away in a safe deposit box.
Fortunately, we were able to locate the key and inventory all the remaining assets, ensuring they were distributed according to her wishes. This experience highlights the importance of thoroughness when taking inventory, as even seemingly insignificant details can have a significant impact.
Planning for the Unexpected: Statistics Speak Volumes
According to a recent survey by Caring.com, over 60% of Americans do not have a will in place. This statistic underscores the urgent need for individuals to prioritize estate planning.
Taking Control of Your Legacy: Contact San Diego Probate Law
Steve, thank you so much for sharing your expertise today. Remember folks, safeguarding your future and ensuring your loved ones are cared for starts with a well-crafted estate plan.
Testimonials
“I was overwhelmed with the probate process after my mother passed away. San Diego Probate Law guided me every step of the way with compassion and professionalism.”
– Sarah M.
“Steve Bliss is an exceptional attorney who truly cares about his clients. He took the time to understand my unique situation and crafted a plan that met all my needs.”
– John L.
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 happens to my estate plan if I remarry?” Or any other related questions that you may have estate planning or my estate planning law practice.
Important Facts About San Diego Probate Law
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