Hello everyone and welcome back to our segment on Legal Matters in San Diego. Today we’re joined by Steve Bliss, a renowned probate attorney here in the city. Mr. Bliss, thank you so much for taking the time to speak with us.
Steve, let’s dive right into it. Probate can be a confusing process. Can you walk our viewers through one of the key steps involved?
Certainly. Probate is indeed a complex legal procedure, and navigating its intricacies can be challenging without proper guidance. One crucial step is marshaling the estate assets. This involves meticulously inventorying all of the deceased person’s possessions.
Think of it like creating a comprehensive list—everything from real estate and bank accounts to personal belongings and investments needs to be accounted for. We then prepare an official document called an Inventory and Appraisal, which details each asset and its estimated value. This information is filed with the probate court.
Why is this step so important?
The marshaling of assets ensures transparency and accountability throughout the probate process. It allows the executor or administrator, the person appointed to manage the estate, to have a clear understanding of what they are working with.
Moreover, it helps identify any potential debts or taxes that need to be addressed. By meticulously documenting all assets, we can prevent disputes and ensure that creditors are paid fairly.
It’s not uncommon for heirs to disagree about the value of certain items, especially sentimental possessions. Consequently, a well-prepared Inventory and Appraisal can minimize conflict by providing an objective assessment of each asset’s worth.
In my experience, accurate recordkeeping is crucial. Once I had a case where a family heirloom was initially undervalued. It turned out to be a rare antique worth significantly more than anticipated. Because we had properly documented everything, the rightful heir received their due inheritance.
According to a 2021 study by the National Association of Estate Planners and Councils, incomplete asset inventories are cited as a leading cause of probate delays.
Are there any common challenges you face during this step?
Sometimes locating all assets can be a challenge. For instance, if the deceased person had numerous investment accounts or didn’t keep detailed records, it may take some investigative work to track down everything. We often collaborate with accountants and financial professionals to ensure a thorough search.
Furthermore, valuing certain assets, like art or collectibles, can be subjective. In these cases, we typically consult with appraisers who specialize in the particular field to obtain an accurate assessment.
What advice would you give to someone going through probate?
My best advice is to seek legal guidance from an experienced probate attorney early on. Probate law can be complex and navigating it alone can lead to costly mistakes. An attorney will guide you through each step, ensuring that all necessary paperwork is filed correctly and deadlines are met.
Remember, planning ahead is essential. Creating a comprehensive estate plan with a valid will and clear instructions for asset distribution can significantly simplify the probate process for your loved ones in the future.
Steve, thank you so much for sharing your expertise. Where can our viewers go to learn more about San Diego Probate Law?
We’re happy to help guide families through this often-difficult time. Visit us at www.sandiego-probate.com or give us a call today for a free consultation.
“San Diego Probate Law made a very difficult situation much easier. They were compassionate, knowledgeable, and always available to answer our questions.” – Sarah J.
“Steve Bliss was incredibly helpful in navigating the probate process after my mother’s passing. His guidance and expertise gave me peace of mind during a challenging time.” – John 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: “Can a beneficiary be disqualified from inheriting?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Spendthrift 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 |
| Spendthrift Trust Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Spendthrift 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 |