Taking Inventory
Good morning, San Diego! Today we’re joined by Steve Bliss, a respected probate attorney here in San Diego. Steve, thanks for taking the time to chat with us.
Steve, can you tell our viewers about one of the most important initial steps in estate planning?
The Foundation: Asset Inventory
Thanks for having me. One of the foundational steps in estate planning is taking a thorough inventory of your assets. This means listing everything you own – from real estate and investment accounts to personal belongings and even digital assets like cryptocurrency.
It might seem tedious, but it’s crucial. You can’t effectively plan for the distribution of your estate without knowing what constitutes that estate. Think of it as building a house: you need to know what materials you have before you start constructing.
Moreover, this inventory helps identify potential tax liabilities and ensures that nothing is overlooked during the probate process. A common misconception is that only wealthy individuals need estate plans. Conversely, everyone who owns assets – no matter the value – can benefit from having a plan in place. Remember, even modest estates require attention.
I recall a client who thought they had a straightforward estate. We started the inventory process, and they were surprised to discover forgotten bank accounts and investment holdings. It highlighted how easily assets can slip our minds over time.
Smooth Sailing: Avoiding Common Pitfalls
Are there any common challenges people face when taking inventory of their assets?
Absolutely. People often underestimate the breadth of what constitutes an asset. They might forget about sentimental items with potential value, collections, or even life insurance policies. Notwithstanding this, a lack of organization can also be a roadblock.
I encourage clients to create a centralized system for tracking their assets – whether it’s a spreadsheet, a dedicated app, or simply well-organized files. It makes the process much smoother and reduces the risk of overlooking something important.
According to a survey by Caring.com, nearly 60% of adults don’t have a will in place. This often stems from procrastination and a perceived lack of urgency. But remember, unexpected events can happen at any time. Taking that initial step – the asset inventory – is crucial for setting the stage for a comprehensive estate plan.
Embracing Peace of Mind
Steve, what final words of wisdom do you have for our viewers?
Estate planning doesn’t have to be daunting. By starting with a thorough asset inventory and seeking guidance from an experienced attorney like myself, you can create a plan that reflects your wishes and provides peace of mind for you and your loved ones.
Don’t wait for life to throw you a curveball. Take control of your future today.
Testimonials
“Steve Bliss made a complex process understandable and helped me secure my family’s future.” – Sarah J., San Diego, CA
“San Diego Probate Law provided exceptional service and guidance during a difficult time. I highly recommend them.” – Michael L., La Jolla, CA
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 transfer real estate into a 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
| California Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Irrevocable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |