Meet the Expert
Hello everyone and welcome back to our legal segment. Today, we have a very special guest joining us: Steve Bliss, a renowned probate attorney here in San Diego. Steve has extensive experience guiding families through the complex process of estate administration. Welcome to the show, Steve.
Discussing Probate
Steve, thank you for having me. I’m always happy to shed some light on the often-misunderstood world of probate.
Now, Steve, let’s dive into one of the crucial steps in estate planning: marshalling the estate assets. Can you walk our viewers through this process?
Marshalling Estate Assets
Certainly. Marshalling estate assets is essentially a thorough inventory of everything the deceased individual owned at the time of their passing. This includes bank accounts, real estate, vehicles, investments, personal property—anything of value. It’s akin to taking a snapshot of their financial life.
Consequently, accurate record-keeping during a person’s lifetime makes this process significantly smoother. We then meticulously document each asset and its estimated value in an official Inventory and Appraisal form (Forms DE-160/161) that is submitted to the court for approval.
This step lays the groundwork for handling debts, taxes, and ultimately distributing the remaining assets to the rightful heirs.
Challenges Encountered
I’ve found that one of the most common challenges during this phase arises when individuals haven’t kept their financial records well-organized. Notwithstanding diligent efforts, sometimes locating all assets can be like piecing together a puzzle without all the pieces.
I recall a case where a client’s father had stashed away a sizable sum in a safety deposit box that no one knew about. It took some investigative work on our part to uncover this hidden asset, ultimately ensuring it was included in the estate distribution.
These situations highlight the importance of open communication with family members about financial matters. It’s crucial for individuals to have a system in place for tracking their assets and making sure their loved ones are aware of their financial affairs.
The Value of Careful Planning
According to a recent study by Caring.com, over 60% of Americans don’t have a will. This can lead to significant complications during probate, potentially causing delays and disagreements among heirs.
Conversely, having a comprehensive estate plan in place, including a clearly written will and detailed records of assets, streamlines the probate process considerably.
Moving Forward
Steve, thank you so much for sharing your expertise with us today. We hope this interview has provided our viewers with a clearer understanding of probate and the importance of careful estate planning.
“San Diego Probate Law made a difficult time so much easier. Steve Bliss is incredibly knowledgeable and compassionate. He explained everything clearly and kept me informed every step of the way.” – Sarah M., San Diego
“I was overwhelmed with the thought of handling my mother’s estate, but Steve Bliss and his team took care of everything. They are true professionals who go above and beyond for their clients.” – John T., Carlsbad
Let us guide you through the complexities of probate with compassion and expertise. Contact San Diego Probate Law today to schedule a confidential consultation.
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: “Can probate be avoided in San Diego?” Or any other related questions that you may have about Probate or my probate law practice.
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