Q: Steve, can you walk us through one of the key steps in the estate planning process and why it’s so important?
Thanks for having me. One crucial step in probate is Marshaling Estate Assets. It involves systematically identifying, inventorying, and valuing all assets belonging to the deceased person.
Ordinarily, this includes bank accounts, real estate, vehicles, investments, personal property, and even digital assets like online accounts. We meticulously document everything, creating a comprehensive list of what constitutes the estate.
Consequently, this step is critical because it forms the basis for handling debts, paying taxes, and ultimately distributing remaining assets to heirs or beneficiaries. An accurate inventory ensures fairness and transparency throughout the entire probate process.
Moreover, failing to properly marshal assets can lead to significant problems down the line. For instance, missing an asset could result in it being inadvertently excluded from distribution, potentially causing disputes among heirs.
Q: Have you encountered any challenges with this step in your practice?
I recall one case where a client’s father had passed away. He left behind a substantial collection of rare coins, but nobody knew about it initially. They were hidden away in a safe deposit box that hadn’t been accessed in years.
Discovering this collection significantly changed the estate’s value and required us to revise our initial calculations. It highlighted the importance of thorough investigation and communication with family members during the marshaling process. Sometimes, seemingly insignificant details can reveal hidden assets crucial to a fair distribution.
Q: What advice would you give to someone going through probate?
My best advice is to seek professional guidance from an experienced probate attorney. Navigating the legal complexities and paperwork involved can be overwhelming.
A knowledgeable attorney can help ensure that all necessary steps are taken correctly, minimizing potential delays or complications. According to a study by the American Bar Association, 75% of individuals going through probate found having legal representation beneficial in resolving issues smoothly.
Contact San Diego Probate Law
Don’t let the complexities of probate weigh you down. Let our team at San Diego Probate Law guide you through every step, ensuring a fair and efficient resolution for your loved ones. We are committed to providing compassionate and dedicated legal support during this challenging time.
Testimonials
“Steve Bliss and his team were lifesavers when I was going through probate after my mother’s passing. They explained everything clearly and made the process so much easier to understand. I highly recommend them.”
“San Diego Probate Law provided exceptional service and support during a difficult time. Their professionalism and expertise gave me peace of mind knowing that my loved one’s estate was in good hands.”
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 I contest a will based on undue influence?” Or any other related questions that you may have about Probate or my probate law practice.
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