Disaster preparedness isn’t the only reason you should have a detailed inventory of your personal or business assets
It is generally thought that personal and business property documentation is a strategy employed only when preparing to protect oneself from fire, flood, theft or other natural disaster. This is simply not the case.
There are a variety of financial and estate planning situations where a well-documented personal or business property inventory can be an invaluable tool. This type of documentation is considered an asset protection inventory. These services are often used to identify, catalog, determine value and distribute physical assets.
Some of the ways an asset protection inventory may be beneficial to you:
- Insurance Documentation – Ensuring that you have sufficient insurance coverage – an inventory will help you know the true value of all of your contents, and help identify which items exceed the limits of coverage on homeowners insurance policy.
- Estate Planning – Plans made in advance of the time the household inventory list is needed is a comfort to those who would otherwise have to struggle to pull information together at a time they are least likely to be at their best.
- Estate Settlement – Executors are most often an adult child, and the duties and responsibilities can be overwhelming. The time, stress, and turmoil can be alleviated by using the services of an inventory company.
- Prenuptial Agreements – A detailed inventory of pre-marital assets can help define non-marital property and limit future uncertainties before the households are combined.
- Divorce or Separation – A well-documented inventory of personal assets can streamline valuation and distribution of marital property.
- Business Valuation – If one or both spouses own a business, a professionally documented list of the business assets ensures accurate asset value claims.
- Moving – Items are all too often misplaced or damaged when changing households. A documented inventory will provide proof of value in the event of loss or damage..
- Storage – Theft and flood are not uncommon occurrences in storage facilities and an inventory document listing items in storage will be imperative to substantiate your claim in the event of loss.
Don’t wait until it’s too late – contact us today for a free, no obligation consultation.
WILL YOU BE PREPARED WHEN DISASTER STRIKES?
Would you be able to provide proof of ownership and value to substantiate your insurance claim? After the fact can be a challenging time to reconstruct this information. The best time to do an inventory is now! Don’t wait until it’s too late. Our efficient, professional service is here to help you.
“I have been an insurance agent in Illinois for over 30 years and I urge all of my clients to create and maintain a detailed inventory of their personal and business property. I highly recommend Spyglass Home Inventory service to all of my clients!”
“We just lost our house to a fire in April, and we can’t stress enough the importance of an inventory, which we didn’t have. It’s been 4 months, and we will be wrangling with our insurance company for a long time yet. They really don’t care about you. We’ve been living in our leaky pool house garage because they won’t pay living expenses until they settle.”
Spyglass Home Inventory offers Home Inventory and Business Asset Inventory Services throughout Chicago’s North Shore suburbs including both Cook County and Lake County in Illinois. We provide our residential property inventory, business asset inventory, asset protection inventory, estate planning inventory, divorce inventory and prenuptial inventory services to families and business owners in Algonquin, Arlington Heights, Aurora, Barrington Hills, Barrington, Buffalo Grove, Burr Ridge, Cary, Chicago, Cook County, Crystal Lake, Deer Park, Deerfield, Des Plaines, Elmhurst, Evanston, Fox River Grove, Glencoe, Glenview, Grayslake, Gurnee, Hawthorn Woods, Highland Park, Hinsdale, Hoffman Estates, Inverness, Kenilworth, Kildeer, Lake Bluff, Lake County, Lake Forest, Lake in the Hills, Lake Zurich, Libertyville, Lincolnshire, Lincolnwood, Long Grove, McHenry, Morton Grove, , Mount Prospect, Mundelein, Naperville, Niles, Northbrook, Oakbrook, Palatine, Park Ridge, Rolling Meadows, Schaumburg, Skokie, Streamwood, Vernon Hills, Wauconda, Wheaton, Wheeling, Wilmette, Winnetka and other Northern Illinois communities.