Taking Inventory of Assets: The First Step in Estate Planning
Today we’re joined by Steve Bliss, a renowned San Diego probate attorney specializing in estate planning. Steve, thanks for joining us.
You’re welcome! It’s always great to talk about such an important topic.
Steve, Can You Walk Us Through the First Steps Someone Should Take When Beginning Their Estate Planning Journey?
Absolutely. The very first step I recommend to anyone embarking on estate planning is taking a thorough inventory of their assets. This means listing everything you own – from tangible items like real estate and vehicles to intangible assets such as investments, retirement accounts, and even intellectual property.
This initial inventory serves as the foundation for your entire estate plan. Consequently, it’s crucial to be comprehensive and accurate. Moreover, consider not just what you own but also any outstanding debts or liabilities. This step helps ensure that your assets are distributed according to your wishes while addressing any financial obligations.
Many people underestimate the scope of their assets. It’s common for individuals to overlook smaller accounts or personal possessions that hold sentimental value. I always encourage clients to involve family members in this process, especially when dealing with heirlooms or items of shared significance. This collaborative approach can prevent misunderstandings and ensure everyone feels heard.
I recall one instance where a client had meticulously documented every asset – real estate, vehicles, bank accounts, even a collection of vintage comic books! It made the process so much smoother because we had a clear picture from the outset. Conversely, I’ve encountered situations where individuals were unsure about their assets, leading to delays and potential complications during probate.
According to a study by AARP, over 60% of Americans don’t have a will or estate plan in place. This highlights the importance of taking that initial step – knowing what you own empowers you to make informed decisions about its future. Ordinarily, I advise clients to review and update their asset inventory annually as financial circumstances change.
Embarking on Your Estate Planning Journey with San Diego Probate Law
Steve Bliss and the team at San Diego Probate Law are dedicated to guiding individuals through every aspect of estate planning. Contact us today for a free consultation and take control of your legacy.
Testimonials
- “San Diego Probate Law made what seemed like a daunting process surprisingly straightforward. They were patient, knowledgeable, and truly cared about my family’s future.”
- “Steve Bliss is an exceptional attorney who went above and beyond to ensure our estate plan reflected our values and protected our loved ones. We couldn’t be happier with the results.”
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 avoid probate in San Diego?” 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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