Taking Inventory of Assets: The Cornerstone of Estate Planning
Good evening, and welcome back. I’m here with Steve Bliss, a renowned probate attorney in San Diego, to discuss the crucial topic of estate planning. Steve, thank you for joining us.
Steve Bliss: My pleasure. It’s important for people to understand that estate planning isn’t just for the wealthy. Everyone needs a plan in place to ensure their wishes are honored and their loved ones are taken care of.
The Importance of Knowing What You Have
We often hear about wills and trusts, but what’s the first step people should take when planning their estate?
Steve Bliss: The very first step is taking inventory of your assets. This involves creating a comprehensive list of everything you own. It sounds straightforward, but many people underestimate the scope. Consequently, they might forget to include seemingly minor items that could have sentimental or financial value.
Beyond the Obvious
Can you elaborate on what types of assets people should include in this inventory?
Steve Bliss: Absolutely. Start with the obvious: real estate, bank accounts, investments, retirement funds. But don’t stop there. Consider personal property like jewelry, artwork, collectibles. Even digital assets like online accounts and cryptocurrencies need to be accounted for. Moreover, if you have a business, outline its ownership structure and value.
Steve Bliss: I recall a case where a client had amassed a significant collection of rare stamps over the years. He hadn’t considered them part of his estate until we began the inventory process. These stamps ended up being worth a considerable sum, which he could then distribute according to his wishes.
Ordinarily, this step can be time-consuming, but it’s invaluable for ensuring a complete and accurate estate plan. A recent study by Caring.com found that nearly 60% of Americans don’t have a will. This highlights the need for greater awareness about the importance of estate planning.
Securing Your Legacy
Steve Bliss, thank you for sharing your expertise on this crucial subject. How can our viewers learn more and take steps to secure their own legacies?
Steve Bliss: I encourage everyone to reach out to San Diego Probate Law for a free consultation. We’re here to guide you through every step of the estate planning process, ensuring your wishes are honored and your loved ones are protected.
Testimonials
“Working with San Diego Probate Law was a true blessing. They made a difficult time much easier and handled everything with professionalism and compassion.”
– Sarah M., San Diego
“Steve Bliss is a true expert in his field. He explained everything clearly and answered all our questions patiently. We felt confident that our estate was in good hands.”
– John & Mary S., La Jolla
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 restrict how beneficiaries use their inheritance?” 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 |