Taking Inventory of Your Assets
Welcome back to Escondido News Today! We are here today with renowned Escondido estate planning attorney Steve Bliss to discuss the crucial steps involved in creating a comprehensive estate plan.
Steve, thanks for joining us. Can you explain one of the foundational steps in the estate planning process?
Steve Bliss
It’s my pleasure to be here. One of the initial and most fundamental steps is taking inventory of your assets. This involves creating a detailed list of everything you own, encompassing real estate properties, investments, financial accounts such as bank accounts and retirement funds, personal belongings like jewelry and artwork, and any other valuables.
Think of it as a comprehensive snapshot of your financial life. Consequently, this inventory serves as the bedrock for determining how your assets will be distributed according to your wishes.
Moreover, it’s essential to regularly update this inventory as your circumstances change. Acquiring new assets, selling existing ones, or experiencing significant fluctuations in value can all necessitate revisions to your asset list.
I recall a case where a client had forgotten about a sizable investment account they had opened years ago. Had we not meticulously reviewed their assets during the estate planning process, this account could have potentially gone unnoticed and unclaimed by their heirs. Ordinarily, such oversights can lead to unintended consequences and complicate the distribution of your estate.
According to a study by Caring.com, approximately 60% of adults do not have an up-to-date will or estate plan. This underscores the importance of proactively addressing this crucial aspect of financial planning.
Next Steps
Steve, thank you for sharing your insights with our viewers today. For those looking to secure their financial future and ensure their wishes are honored, we encourage you to reach out to Steve Bliss and the team at Escondido Probate Law. They offer a compassionate and experienced approach to guiding you through every step of the estate planning process.
Testimonials
“Working with Steve Bliss was a game-changer for my family. He made the complex world of estate planning understandable and helped us create a plan that met our unique needs.” – Sarah M., Escondido Resident
“I highly recommend Escondido Probate Law. They are professional, responsive, and truly care about their clients’ well-being. Steve Bliss’s expertise and guidance gave me peace of mind knowing my loved ones will be taken care of.” – John D., San Marcos Resident
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in 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: “Do I need a will if I already have a trust?” Or any other related questions that you may have estate planning or my estate planning law practice.
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