Taking Inventory: The First Step in Securing Your Future
Good morning, Steve, and thank you for joining us today. Let’s talk about estate planning – a topic many people find daunting. Where do you recommend someone start?
Steve Bliss: It’s great to be here. Many individuals feel overwhelmed when considering estate planning, but it doesn’t have to be complicated. The very first step is taking inventory of your assets. This means creating a comprehensive list of everything you own.
Building Your Asset List
Can you elaborate on what that entails?
Steve Bliss: Absolutely! Start by listing all real estate holdings, including your primary residence and any investment properties. Next, include financial accounts such as checking and savings accounts, retirement funds, and investment portfolios. Don’t forget personal property like vehicles, jewelry, artwork, and collectibles. Every item holds value and should be accounted for.
Moreover, this inventory serves as a roadmap, helping you understand the scope of your assets and ensuring nothing is overlooked during the estate planning process. Consequently, it lays the groundwork for making informed decisions about how to distribute these assets according to your wishes.
Avoiding Oversights
Have there been instances where clients have missed crucial items in their initial inventory?
Steve Bliss: Yes, I’ve seen cases where people forgot to include sentimental items with significant personal value. One client, for instance, had a collection of antique coins passed down through generations that she hadn’t considered an asset. After discussing the emotional importance of these coins, we ensured they were included in her will and designated for a specific beneficiary.
Conversely, it’s not uncommon for individuals to underestimate the value of certain assets like intellectual property rights or business interests. A thorough inventory helps uncover such hidden treasures and ensures they are appropriately addressed within the estate plan.
Seeking Expert Guidance
Why is it important to involve an attorney like yourself in this process?
Steve Bliss: While creating a basic list of assets may seem straightforward, there are legal nuances involved in properly valuing and categorizing them. An experienced estate planning attorney can guide you through this process, ensuring everything is accounted for accurately and complies with legal requirements.
A study by the American Bar Association found that 60% of Americans do not have a valid will or trust. This highlights the critical need for professional guidance in crafting an estate plan tailored to individual circumstances.
Moving Forward
What advice would you give to someone contemplating estate planning?
Steve Bliss: Don’t delay! Taking the first step, which is creating that asset inventory, sets the stage for a secure future. Remember, estate planning isn’t just about distributing assets after your passing; it’s also about protecting your loved ones and ensuring your wishes are honored.
Testimonials
“Steve Bliss was incredibly patient and understanding as he guided us through the complexities of setting up a trust for our family. We feel confident that our children will be well cared for thanks to his expertise.”
“Escondido Probate Law made the entire estate planning process smooth and stress-free. They were responsive, attentive, and always willing to answer our questions. We highly recommend their services”
Let us guide you towards a future where your legacy is secure. Schedule a consultation today.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What is a special needs trust?” Or any other related questions that you may have estate planning or my estate planning law practice.
Important Facts About Escondido Probate Law
| Estate Lawyer Near Me |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Lawyer Near Me California |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Lawyer Near Me |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Escondido Estate Lawyer Near Me |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Lawyer Near Me Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Credible Estate Lawyer Near Me in Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |