We Buy Your Business
If you are dealing with issues such as divorce, downsizing, probated or non-probated estate divesture, or overwhelming debt, you know that the Asset or Estate Liquidation process can be an emotional mine field. With this significantly stressful situation, often coupled with difficult time restraints, what can be done to best manage the process and deal with the myriad of decisions required?
The first step in liquidating any assets is to identify and enumerate all of the assets that are available to work with. Listed below is a checklist of categories that you should consider when summarizing your personal assets.
Financial Assets
1. Bank accounts
2. Guaranteed investment certificates (GICs)
3. Government Savings Bonds (GSBs)
4. Mutual funds, segregated funds, stocks, and bonds
5. Business investments
6. Registered Retirement Savings Plans (RRSPs)
7. Locked-in RRSPs or Retirement Accounts (LIRAs)
8. Registered Retirement Income Funds (RRIFs)
9. Life Income Funds (LIFs) and Life Retirement Income Funds (LRIFs)
10. Annuities
11. Life insurance policies
12. Company pension plans with survivor benefits
Physical Assets
1. Home
2. Rental properties
3. Cottage/vacation home
4. Cars
5. Recreational vehicles (boats, snowmobiles, motor homes, etc.)
6. Home furnishings
7. Artwork
8. Antiques
9. Collectibles (stamps, coins, etc.)
10. Jewelry
Making a detailed list of all your worldly possessions can be time-consuming and difficult. But it will provide great value for insurance purposes, assisting in facilitating business or personal loans, and estate planning. The more detailed and complete your asset list, the easier it will be for your estate to be properly valued. If necessary, it can also be used as protection against creditors or to provide documentation for heirs should the need arise.
We Buy Your Business (WBYB) provides cash offers for personal assets to assist in the liquidation process. Please contact your WBYB representative for more information at www.WeBuyYourBusiness.com
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