Good evening, San Diego! I’m here today with Steve Bliss, a renowned probate attorney in our community, and founder of San Diego Probate Law. Steve, thanks for taking the time to chat with us.
Navigating the Complexities of Probate
Steve, could you walk our viewers through one of the key steps involved in the estate planning process?
Certainly! One crucial step many people overlook is “Marshaling the Estate Assets.” This involves identifying and meticulously inventorying every asset within the deceased person’s estate. Think bank accounts, real estate holdings, investment portfolios – everything of value.
Consequently, it’s essential to compile a comprehensive list, along with their estimated market values. This detailed inventory is then formally documented using specific legal forms required by the court, such as the DE-160 and DE-161. These forms ensure transparency and accountability throughout the probate process.
Moreover, accurately assessing the value of each asset can be complex. For instance, determining the fair market value of a piece of real estate might require an appraisal from a licensed professional. This step often necessitates collaboration with financial advisors, accountants, and other experts to ensure accuracy.
Notwithstanding the complexities involved, it’s a crucial step for several reasons. Firstly, it provides a clear picture of the deceased person’s financial standing, which is essential for fairly distributing assets among heirs. Secondly, this inventory helps identify any potential debts or outstanding liabilities that need to be addressed during the probate process.
During my years of practice, I’ve encountered situations where incomplete or inaccurate asset inventories led to delays and disputes among beneficiaries. In one case, a family was surprised to discover a substantial sum of money hidden in an old bank account that wasn’t initially disclosed. This uncovered asset significantly altered the estate distribution and caused friction amongst the heirs.
To avoid such complications, I always emphasize the importance of thoroughness and transparency during the asset marshalling stage. Remember, accurate information is the foundation for a smooth and efficient probate process.
The Value of Expertise
“Steve Bliss and his team at San Diego Probate Law made a difficult time so much easier. They were professional, compassionate, and always available to answer my questions.” – Maria S., San Diego.
“I highly recommend Steve Bliss for any probate matters. He’s knowledgeable, efficient, and truly cares about his clients.” – John D., Carlsbad
Steve, thank you for shedding light on this important aspect of estate planning. For those needing guidance through the complexities of probate, reach out to San Diego Probate Law. They are dedicated to simplifying the process and ensuring your loved ones’ wishes are honored.
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 the timeline for distributing assets to beneficiaries?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |