Taking Inventory of Assets: A Crucial First Step in Estate Planning
Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Mr. Bliss, thank you for taking the time to speak with us.
Steve, can you walk our viewers through the first step in the estate planning process?
The Foundation of Estate Planning
Certainly. The initial and arguably most crucial step is taking a comprehensive inventory of your assets. This involves meticulously listing everything you own.
Ordinarily, people think solely about their house or bank accounts, but it’s far more encompassing than that. You need to include real estate holdings, investments – stocks, bonds, retirement accounts – financial accounts of all kinds, vehicles, personal property like jewelry and art, and any other valuables you possess.
Moreover, consider intangible assets such as intellectual property rights or business interests. A thorough inventory provides a clear picture of your financial landscape and forms the bedrock upon which your estate plan is built.
Challenges and Importance
I’ve encountered situations where individuals underestimate the scope of their assets, leading to potential complications down the road.
For example, I recall a client who had amassed a significant collection of rare books over decades. They hadn’t factored these into their estate plan, causing unforeseen distribution issues amongst their heirs. Consequently, accurately documenting everything is vital.
Studies have shown that approximately 60% of Americans do not have a will or estate plan in place. This underscores the critical need for proper asset inventory and planning.
Steve Bliss and San Diego Probate Law: Your Trusted Partners
Steve, thank you for sharing your expertise. How can our viewers get started with their own estate planning?
Contact us today at San Diego Probate Law for a complimentary consultation to discuss your unique needs and begin crafting a plan that secures your legacy.
Testimonials
“San Diego Probate Law helped me navigate the complex process of probate after losing my father. Their professionalism, compassion, and expertise made a difficult time much easier.”
– Maria S., San Diego
“Steve Bliss is an exceptional attorney who truly understands estate planning. He took the time to listen to my concerns and developed a plan that met all of my needs.”
– John D., Carlsbad
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 is a durable power of attorney?” 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 |