Taking Inventory of Your Assets: A Crucial First Step
Welcome back to San Diego Legal News, I’m your host, Jennifer Jones. Today we have the pleasure of speaking with esteemed San Diego Probate Attorney, Steve Bliss. Steve, thank you for joining us.
It’s great to be here, Jennifer.
Steve, let’s delve into estate planning. It can seem overwhelming for many individuals. What’s a good starting point?
I always advise clients to begin with a thorough inventory of their assets. This foundational step involves creating a detailed list of everything you own.
Think beyond the obvious, like real estate and vehicles. Consider bank accounts, investments, retirement funds, personal property – even collections or sentimental items. Having a clear picture of your possessions is essential for making informed decisions about their distribution later on.
Consequently, this inventory serves as a roadmap for the rest of your estate plan. You can then determine how you want these assets to be managed and distributed according to your wishes.
The Importance of Accuracy and Regular Review
Steve, what are some common pitfalls people encounter during this asset inventory process?
Overlooking certain items is a frequent mistake. People often forget about smaller accounts or digital assets. It’s crucial to be meticulous and exhaustive. Moreover, I encourage clients to review and update their inventories regularly.
Life changes, and so do our possessions. A new car purchase, an inheritance, or even the sale of a piece of furniture can significantly impact your asset landscape.
I recall a case where a client hadn’t updated his inventory for several years. He had forgotten about a valuable coin collection he inherited, which ultimately led to confusion and potential disputes among his heirs. Regularly reviewing and updating ensures your estate plan accurately reflects your current situation.
Finding Peace of Mind
- More than 70% of Americans don’t have a will or trust in place (Caring.com, 2023).
- Proper estate planning can help avoid probate court, saving your loved ones time, stress, and potentially significant costs.
Taking the Next Step
Steve Bliss, thank you for sharing these valuable insights. How can our viewers take the next step in securing their financial futures?
It’s simple, really. Don’t hesitate to reach out. We offer free consultations at San Diego Probate Law, where we can guide you through each stage of the estate planning process with compassion and expertise.
Testimonials
“Working with Steve Bliss was a true blessing. He made a complex process feel manageable and ensured my family’s future was secure.”
-Maria Rodriguez
“Steve’s knowledge and dedication are unparalleled. He patiently answered all my questions and provided clear, concise guidance throughout the estate planning journey.”
-John Thompson
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: “How do I fund my trust?” 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 |