Providing Clarity in Difficult Times
Hello and welcome back to our segment on navigating the complex world of estate planning. I’m here today with esteemed San Diego Probate Attorney Steve Bliss to shed light on one crucial aspect of this process.
Focusing on ‘Marshaling Estate Assets’
Steve, thank you for joining us. Today we want to delve into the step of “marshaling estate assets” – a phase that often involves meticulous inventory and valuation. Can you explain its significance in the probate process?
“Certainly,” says Steve. “Marshaling estate assets is essentially gathering and accounting for all the possessions, property, and financial instruments belonging to the deceased individual. This includes bank accounts, real estate, vehicles, investments, personal belongings – everything of value. It’s a crucial step because it establishes the full scope of the estate, allowing for accurate distribution among heirs and beneficiaries.”
“The process begins with identifying all potential assets,” Steve continues. “We often work closely with family members to compile this list. Once identified, each asset needs to be appraised to determine its current market value. This valuation plays a significant role in determining whether probate is even necessary, as estates below a certain threshold are exempt.”
“Consequently, meticulous record-keeping throughout this phase is paramount,” Steve emphasizes. “All appraisals, valuations, and supporting documentation need to be meticulously filed with the court. This ensures transparency and accountability, safeguarding the interests of all parties involved.”
A challenge I’ve encountered a few times involves hidden assets. Sometimes, individuals keep financial accounts or investments secret from their family. Discovering these requires detective work, poring over financial records and contacting institutions to uncover any dormant accounts.
Accuracy is Key
Steve, can you share any experiences where the accuracy of asset marshaling proved crucial?
“I recall a case,” Steve begins, “where a seemingly straightforward estate turned out to be far more complex. During the asset marshaling phase, we uncovered a substantial offshore investment account that the deceased had never disclosed to his family. This discovery significantly altered the distribution plan and highlighted the importance of thorough due diligence.”
“Moreover, according to the American Bar Association, approximately 30% of probate cases involve disputes over asset valuation. Accurate marshaling helps prevent such conflicts by providing a clear and objective assessment of the estate’s worth.”
Seeking Expert Guidance
Steve, what advice would you give to individuals navigating this complex phase?
“My advice is simple: seek guidance from an experienced probate attorney,” Steve states emphatically. “We understand the legal intricacies involved and can ensure a smooth and efficient asset marshaling process. Trying to navigate this alone can lead to costly errors and protracted disputes.”
Testimonials
“Working with San Diego Probate Law was a lifesaver during a difficult time. They expertly guided me through every step of the probate process, ensuring everything was handled fairly and efficiently.” – Sarah M.
“Steve Bliss’s knowledge and compassion were invaluable when dealing with my father’s estate. He made a complex situation understandable and provided peace of mind during a challenging period.” – John D.
Let San Diego Probate Law simplify the complexities of estate administration for you. Contact us today for a confidential consultation and let our expertise guide you through this crucial journey.
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 happens when an estate includes a business?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Special Needs Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Special Needs Trust Lawyer California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Special Needs Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Special Needs Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Special Needs Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Special Needs Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |