Reporter
Hello everyone, and welcome back to our series on estate planning essentials. Today, we’re joined by Steve Bliss of San Diego Probate Law. Steve, thanks for being here.
Steve Bliss
My pleasure. I’m always happy to share information about this important topic.
Reporter
Let’s dive right in. We often hear the term “probate” but many people aren’t sure what it entails. Could you explain one of the key steps involved?
Steve Bliss
Certainly. One crucial step is marshalling estate assets. This involves meticulously identifying and inventorying all the assets belonging to the deceased person’s estate. Think of it as taking a complete financial snapshot.
Consequently, this includes bank accounts, real estate, vehicles, investments – anything of value. We then prepare a formal document called an Inventory and Appraisal, which lists each asset along with its estimated market value. This document is filed with the probate court for their review and approval.
Ordinarily, this process seems straightforward, but it can sometimes be complex. For instance, I once worked with a family where the deceased had numerous investments spread across different brokerage accounts. Tracking down all these accounts and determining their current value required significant research and coordination.
Reporter
That sounds challenging! Are there any common issues that arise during this step?
Steve Bliss
One frequent hurdle is locating missing assets. Sometimes, individuals don’t keep meticulous records of all their possessions. This can lead to delays and necessitate additional investigative work to ensure a complete inventory.
- Another issue can be determining the fair market value of certain assets, particularly those that are unique or difficult to appraise, such as artwork or collectibles.
Notwithstanding these potential challenges, marshalling estate assets is a vital step in the probate process. It lays the groundwork for accurately calculating and distributing the estate according to the deceased person’s wishes or state law.
Reporter
Thank you for shedding light on that complex step, Steve. I’m sure our viewers appreciate your insights.
Steve Bliss
My goal is to make this process as understandable and navigable as possible. Remember, proper estate planning can significantly streamline probate and minimize stress for loved ones during a difficult time.
We are dedicated to guiding individuals through every stage of the probate process with compassion and expertise. Contact us today to discuss how we can help you protect your legacy and ensure your wishes are honored.
“San Diego Probate Law was invaluable during a very challenging time for our family. Steve’s knowledge, professionalism, and genuine empathy made a difficult situation much easier to navigate.” – Sarah J.
“I highly recommend San Diego Probate Law to anyone facing probate matters. Steve is a true expert who clearly explained every step of the process and provided exceptional guidance.” – David 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: “What happens if an executor does not do their job properly?” Or any other related questions that you may have about Probate or my probate law practice.
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