Photo Asset Archival » 2008

Who Should Have an Asset Inventory?

Filed under: Asset Education, Protecting by Lizz @ 12:44 pm on March 27, 2008

Everyone. Regardless of age, economic position, marital status, whether you own or rent
your residence, have vacation or rental property, or own or rent your business property.

INSURANCE: Most insurance company literature recommends a photographic inventory, which substantiates your assets, for accurate and expedited claims processing and compensation.
ESTATE: Probate can be a costly and time consuming process for an estate without the proper plan in place. Ensure that you are prepared for any eventuality: maximize estate value by reducing probate related costs, accurately designate property recipients, speed up property distribution, and minimize disputes.
COMMUNITY: Consider that when a disaster, such as a massive fire , a hurricane, or a flood impacts a large sector of the community, the uninsured and under-insured are not the only losers. When the rebuilding and the repurchase of lost items do not occur due to inadequate protection, a trickle-down effect is felt through-out the whole community in terms of lost sales tax and property tax revenue.
TAX: Deduct documented losses and charitable contributions against earned income.
FINANCIAL: Don’t be like LaVere Redfield, the eccentric millionaire in Reno who at his death in 1974 had 17 tons of silver dollars hidden behind a false wall in his basement and left instructions to not tell the IRS. He served a prison sentence in 1960 for tax evasion. And the IRS, having a long memory, checked the house on Mt. Rose & Plumas! They were hauled off in armored trucks and auctioned off by the IRS. Uncle Sam got a huge cut of the 7.3 million proceeds!
BUSINESS: If disaster strikes, such as fire or burglary, have a plan in place which will enable you to file a complete claim and re-open your doors ASAP.

Have a question? E-mail me at info@photoassetarchival.com; I’ll respond. Have a
story to tell or an experience to share? Blog back your story!

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Welcome to Photo Asset Archival

Filed under: Asset Education, Categorizing, Photo Asset Archival, Protecting by Lizz @ 2:18 pm on March 5, 2008

Welcome to my Asset Protection blog spot! To get you in the right mindset, think BACK=UP: Because Accurate Complete Knowledge = Ultimate Protection! I hope you will stay tuned to my thought provoking, informational website and blogs which have been developed to share asset protection strategy information, products, techniques, statistics, and more. I’ll explain the gamut of benefits derived from an inventory, as well as how it will improve your decision-making for insurance, estate, tax, financial, and business planning. For those of you who want to do it yourself, I’ll be your guide to accomplishing a

SAFE INVENTORY: Securely Archived for Future Eventualities . . . to . . . Insure Nothing Valuable
Escapes Notice To Obtain Replacement Yourself!