Published February 7, 2025
Do You Know the State of Your Estate?
My question for you this month is “do you know the state of your estate?” One good way to start, and then keep track, is to fill out a personal financial statement. In switching my construction loan to a permanent loan, I had to update my PFS for my lender and I was amazed how many things have changed in the last year and a half.
All my loans are with Security First Bank in Rapid City. If you are looking for a great hometown bank that you can have a personal relationship with, I highly recommend them!! They have a wonderful PFS that easily computes the state of your estate (link below). I have been given permission to share that with you. When you fill it out, do your personal info at the top and then skip the middle part and go to the individual boxes below as the totals in those boxes will automatically fill into the appropriate boxes above.
The one part we at Lewis Realty can help with is the value of your real estate for your assets section. We can do a market analysis and let you know what we think the value is in the current market. Please keep that in mind and give us a call if we can help. This would also be a good time to see if anything in your will needs updated. Have you bought or sold anything of value this last year that needs reflected? Are any other changes needed? Do you have a home safe or a safety deposit box for your valuables and important documents? Just food for thought! Let me know how I can help
