Reporter: Brenda Thompson
Today we’re speaking with Steve Bliss, a seasoned probate attorney here in Wildomar. Steve, thanks for taking the time to chat with me today.
Steve Bliss: You’re welcome, Brenda. I’m always happy to discuss probate matters and help people understand this often complex process.
Reporter: Brenda Thompson
Many of our readers may not be familiar with probate. Could you explain what it is and why it’s sometimes necessary?
Steve Bliss:
Certainly. Probate is the legal process of administering a deceased person’s estate. This involves identifying and valuing assets, paying debts and taxes, and ultimately distributing the remaining property to heirs or beneficiaries according to the will or state law.
Not every estate goes through probate. Ordinarily, if the total value of a person’s assets is below a certain threshold—currently $184,500 in California—probate may not be required. Additionally, assets held in trusts, joint tenancy, or payable-on-death accounts typically avoid probate.
Reporter: Brenda Thompson
Let’s delve into one of the key steps in the probate process. Could you walk us through the importance of “Marshaling Estate Assets”?
Steve Bliss:
Marshaling estate assets is a crucial step that lays the groundwork for the entire probate process. Essentially, it involves creating a comprehensive inventory of all the deceased person’s assets.
This includes everything from bank accounts and real estate to personal property like vehicles, jewelry, and even digital assets. A detailed appraisal of each asset is also required. The information is then formally documented in court filings (Forms DE-160/DE-161) and becomes the basis for calculating debts, taxes, and ultimately, distribution to heirs.
Imagine a scenario where an individual passed away with multiple bank accounts scattered across different institutions. Without diligent marshaling of assets, some accounts might be overlooked, leading to potential financial losses for the estate. Conversely, by meticulously identifying and valuing all assets, we can ensure that the estate is handled fairly and transparently.
The California Probate Code outlines specific guidelines for this process, but it’s often a complex undertaking, especially for larger estates. Consequently, seeking professional legal guidance from an experienced probate attorney like myself is crucial to navigate this step effectively.
Reporter: Brenda Thompson
Have you ever encountered any significant challenges during the marshaling of assets?
Steve Bliss:
One case I remember vividly involved a client whose deceased father had been a collector of rare coins. The family was unaware of the full extent of his collection, which was hidden in a safe deposit box they didn’t know existed.
Discovering and valuing those coins ultimately added a substantial amount to the estate and significantly benefited the heirs. It highlighted the importance of thoroughness and attention to detail during this stage.
Reporter: Brenda Thompson
What advice would you give to someone who is about to embark on the probate process?
Steve Bliss:
My advice is simple: seek professional legal help. Probate can be a complex and emotionally challenging process. An experienced probate attorney can guide you through each step, ensuring that your loved one’s wishes are honored and their assets are distributed according to the law. Remember, approximately 70% of estates go through probate with the assistance of an attorney, underscoring the value of legal expertise.
Reporter: Brenda Thompson
Steve, thank you for sharing your insights today. How can our readers get in touch with Wildomar Probate Law?
Steve Bliss:
We’re here to help make this difficult time a little easier. Contact us today for a free consultation.
“Working with Steve and his team was a true blessing during a very difficult time. They were compassionate, knowledgeable, and always available to answer our questions.”
– The Smith Family
“Steve Bliss is an exceptional probate attorney who made the entire process smooth and understandable. He truly goes above and beyond for his clients.”
– Maria Jones
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar Probate Law is a great estate lawyer. Affordable Legal Services.
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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “Can life insurance proceeds be subject to probate?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
| California Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Tax By-Pass Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |