Serving Clients in Lake County, Cook County and Chicago’s North Shore Suburbs
It is generally thought that personal and business asset 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, legal and estate planning scenarios where a well-documented personal or business property inventory can be an invaluable tool. This type of documentation is often considered an asset identification or protection inventory. These services are generally used to identify, catalog, determine value and provide direction in the distribution physical assets.
There are an infinite number of ways that a professionally documented asset inventory report may be beneficial to you. It’s a known fact that insurance companies, estate planners, forensic accountants and top divorce and tax attorneys strongly recommend creating and maintaining a thorough documentation of valuable property in your home, business or estate.
One of the main reason that these legal and financial professionals suggest that a detailed asset inventory be created and maintained is to prove what you own, when you acquired it, it’s estimated value, whether it is marital or non-marital property and establish proper distribution to your heirs.
Whether it’s for an insurance claim, police report, court proceeding or estate liquidation a comprehensive asset inventory will prove to be an invaluable tool. A detailed record of your personal or business property with tangible proof of ownership and estimated value can be a critical component and is vital to preserving your financial interests.
Marriage, Divorce or Legal Separation Inventory
How can a premarital or divorce inventory assist me preserve assets?
Pre-Nuptial or Post-Nuptial Agreement Inventory
Often times, when an individual is contemplating marriage, the need for a Pre-Nuptial Agreement arises. A detailed inventory of pre-marital or post-marital assets can help define non-marital property and limit future uncertainties before the households are combined.
Divorce or Legal Separation Inventory
In the event of divorce or legal separation, a complete record of all marital and non-marital property is essential in preserving your assets. A well-documented inventory of personal and business assets can streamline valuation and distribution of marital property. In fact, many attorneys recommend a complete inventory of all personal property, marital and non-marital.
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Financial and Estate Planning Inventory
How can an property or asset inventory be useful in 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.
Executors are often times 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 asset inventory company.
A comprehensive asset inventory in conjunction with proper heir assignment list provides substantiating evidence to ensure a smooth transition for your family, as well as providing a necessary tool for the executor of your estate.
Spyglass Home Inventory Service specializes in documenting, recording and archiving personal and business assets. We can provide you with a comprehensive printed and digital record on CD/DVD of your home or business contents. This professional, reliable, third party, home inventory service is designed to establish, document and preserve your assets while helping to make the estate planning or settlement process more streamlined and stress-free.
Contact Spyglass Home Inventory today to schedule a free, no obligation home inventory needs assessment.
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 Barrington, Barrington Hills, Deerfield, Deer Park, Glencoe, Glenview, Grayslake, Gurnee, Hawthorn Woods, Highland Park, Highwood, Inverness, Kenilworth, Kildeer, Lake Bluff, Lake Forest, Libertyville, Lincolnshire, Long Grove, North Barrington, Northbrook, Park Ridge, Vernon Hills, Wilmette, Winnetka and other Northern Illinois communities.