Introduction
Welcome back to San Diego Legal Insights. Today, I’m joined by renowned San Diego probate attorney Steve Bliss of San Diego Probate Law to shed light on the often-complex world of estate planning and probate.
Understanding Probate: A Necessary Step
Steve, for our viewers unfamiliar with the term, could you briefly explain what probate is?
“Probate is essentially the legal process of administering a deceased person’s estate,” Steve explains. “It involves identifying and inventorying assets, paying debts and taxes, and ultimately distributing the remaining property to heirs or beneficiaries according to the will, if one exists, or state law.”
Choosing the Right Path: Probate vs. Non-Probate Assets
“A common question I get is whether probate is always necessary,” Steve continues. “Fortunately, not every estate requires going through probate court. We first need to determine if the deceased’s assets exceed a certain threshold – currently $184,500 in California.
Additionally, assets held in trusts, jointly owned property, or those with designated beneficiaries typically avoid probate altogether. For example, retirement accounts often have named beneficiaries who receive the funds directly upon the owner’s death.
Marshaling Estate Assets: A Crucial Step
Today, we want to delve into the crucial step of “marshaling estate assets.” Can you elaborate on what this entails?
“Absolutely,” Steve affirms. “Marshaling assets is essentially a comprehensive inventory and valuation process. We meticulously identify all assets belonging to the deceased, from bank accounts and real estate to investments, personal property, and even debts owed to the estate.
This detailed accounting ensures that all assets are accounted for and properly distributed according to the decedent’s wishes or state law.”
Ordinarily, this process involves obtaining statements from financial institutions, appraisals for real estate and valuables, and even tracking down potential outstanding debts owed to the estate. Conversely, it can sometimes be challenging to locate all assets, especially if the deceased didn’t maintain meticulous records.
Challenges and Triumphs: Real-World Examples
Have you encountered any particular challenges during this step in your practice?
“Absolutely,” Steve recalls. “I once represented a family where the deceased had hidden a substantial sum of cash in their home. It took some detective work to uncover it, but ultimately finding those funds brought immense relief and closure to the family.
Another time, I helped locate long-lost heirlooms that had been passed down through generations but were unaccounted for in any records. The emotional significance of those discoveries was profound for the beneficiaries.”
It’s estimated that nearly 60% of Americans do not have a will or estate plan, highlighting the need for proper planning and guidance.
*Source: Caring.com, Estate Planning Statistics*
A Trusted Partner in Probate
Steve Bliss, thank you for sharing your expertise on this important topic. How can our viewers reach out to San Diego Probate Law for assistance?
“We’re here to help navigate the complexities of probate and estate planning with compassion and clarity,” Steve says. “Contact us today for a free consultation and let us guide you through this often-difficult process.”
Testimonials
“San Diego Probate Law made a stressful situation so much easier. They were knowledgeable, responsive, and truly cared about our family’s needs.” – The Johnson Family
“Steve Bliss is an exceptional attorney who went above and beyond to ensure my mother’s estate was handled with the utmost care. I highly recommend San Diego Probate Law.” – Lisa M.
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 is a probate referee and what do they do?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Lawyer Near Me in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |