Introduction
Hello and welcome back! I’m Trisha Collins reporting live from San Diego. Today we have the pleasure of speaking with local probate attorney, Steve Bliss, about the often-complex world of estate planning.
Understanding Probate
Steve, can you tell us a little bit about probate and why it’s important for people to understand?
Probate is essentially the legal process of administering a deceased person’s estate. This includes identifying and inventorying assets, paying debts and taxes, and ultimately distributing the remaining assets to heirs or beneficiaries according to the will or state law.
Focusing on Marshaling Estate Assets
Let’s delve into one specific step in the probate process. Could you explain what “marshaling estate assets” entails?
Marshaling estate assets is a crucial step that involves meticulously inventorying all of the deceased person’s assets. This includes everything from bank accounts and real estate to vehicles, personal belongings, and even digital assets. Consequently, we need to determine their fair market value. This information is then formally documented in an Inventory and Appraisal (Forms DE-160/161) which is filed with the court.
Think of it like creating a comprehensive financial snapshot of the individual’s life at the time of their passing. It ensures transparency and accountability throughout the probate process. Ordinarily, we work closely with family members, executors, or administrators to gather this information.
Conversely, sometimes uncovering all assets can be challenging, especially if there are complex financial arrangements or hidden assets. Nevertheless, our goal is always to ensure a thorough and accurate accounting of the estate.
- I remember one case where we discovered a substantial sum of money hidden in a safety deposit box that the family was unaware of. It turned out the deceased had been saving diligently for years.
- In another instance, we uncovered valuable artwork that had been tucked away in an attic for decades.
Finding these assets not only benefitted the heirs financially but also provided a sense of closure and understanding about their loved one’s life.
Importance of Accuracy
The accuracy of this inventory is crucial. According to the San Diego County Probate Court, over 90% of probate cases involve some degree of asset discovery and valuation.
Steve, what are some common challenges you face during this step?
One challenge is locating and valuing assets that may be difficult to appraise, such as antiques or collectibles. We often consult with experts in these fields to determine fair market value.
Moreover, dealing with emotional distress among family members can sometimes complicate matters. It’s essential to approach the process with empathy and sensitivity, recognizing that this is a challenging time for everyone involved.
Moving Forward
Steve, what advice would you give to someone who is going through probate or considering estate planning?
The best thing you can do is seek professional guidance from an experienced probate attorney. We can help navigate the complexities of the process and ensure that your loved one’s wishes are respected.
Testimonials
“Steve Bliss and his team were invaluable during a difficult time. They explained everything clearly, kept us informed every step of the way, and ultimately helped us settle my mother’s estate with minimal stress.”
– John S., San Diego
“I was overwhelmed by the probate process after losing my husband. Steve Bliss made it manageable. He’s compassionate, knowledgeable, and truly cares about his clients.”
– Mary T., Carlsbad
Call to Action
Take control of your future and protect your loved ones. Contact San Diego Probate Law today for a free consultation and let us guide you through the complexities of probate.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Probate Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What are the penalties for mishandling probate funds?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Charitable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Charitable Trust Attorney California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Charitable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Charitable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
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San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
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San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |