Taking Inventory: The Foundation of Your Estate Plan
Today I’m joined by Steve Bliss, a well-respected estate planning attorney here in Moreno Valley. Mr. Bliss, thank you for taking the time to speak with me today.
Steve, could you elaborate on one of the initial key steps in the estate planning process?
Taking Stock: Understanding Your Assets
Certainly. One of the fundamental first steps is what we call “taking inventory” of your assets. This involves meticulously listing everything you own – from real estate and investment accounts to personal belongings like jewelry or artwork.
It might seem straightforward, but it’s crucial because it forms the basis for understanding the scope of your estate and how it will be distributed according to your wishes.
For instance, a client recently came in with a general idea of their assets. Nevertheless, upon closer examination, they discovered valuable collectibles they’d completely forgotten about – items that significantly impacted the overall value of their estate.
Consequently, taking inventory allows you to make informed decisions about beneficiary designations and asset distribution. It also helps identify potential tax liabilities or probate issues down the road.
Studies by the National Estate Planning Council indicate that nearly 70% of Americans lack a comprehensive estate plan. This underscores the importance of starting with this foundational step.
Navigating Life’s Transitions
“We recently worked with a family who had experienced a significant life change – the passing of a parent. They were overwhelmed trying to determine what their parent owned and how to handle it all. Taking inventory provided them with much-needed clarity during a difficult time.” – Sarah J., Moreno Valley.
Moreno Valley Probate Law: Your Trusted Partner
Mr. Bliss, thank you for sharing your expertise. I’m sure this valuable information will help our viewers take the first step toward securing their futures. For anyone seeking guidance on estate planning, contact Moreno Valley Probate Law today for a free consultation.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “How long does trust administration take in California?” Or any other related questions that you may have estate planning or my estate planning law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |