How and Why to Create a Home Inventory

As we enter the last few months of 2020, we continue to be reminded each day how circumstances can change on a dime, and last longer than originally thought. We are also realizing the importance of taking stock of our lives, home inventory and figuring out how to best position ourselves moving forward. When it comes to wealth management, this includes becoming aware of our physical assets to see how they figure into our overall financial picture. Here are some reasons why taking a thorough inventory of your residence(s) is so critical, and some way in which you can do so.   The sale of a residence.  Anyone who has moved will tell you what a chaotic experience it can be. No matter how professional or conscientious the moving company is, or how closely you or your staff oversee…

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Managing multiple properties & weather season creates a need for complete visibility with all your physical assets.

You can’t believe it’s happening again. It seems like yesterday when you purchased your second home – a modern masterpiece just a few hundred yards from the beach in Sag Harbor – only to have it nearly levelled by Superstorm Sandy. The floor-to-ceiling windows that sold you on the property were shattered, and the recently renovated great room was under several feet of water. Outside, magnificent Linden trees, some hundreds of years old, had been felled by gale-force winds and were waiting to be carted away. The aftermath of the storm was one of the most stressful times in your life. It was bad enough having to throw out the furnishings you and your spouse had chosen with such care and excitement; losing the eclectic collection of artwork and other items, most of which had been inherited from your…

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