Hello everyone, and welcome back to our legal segment. Today, we’re joined by Steve Bliss, a respected probate attorney here in San Diego. Steve, thanks for taking the time to speak with us.
Steve, can you explain one of the key steps involved in the estate planning process?
Certainly. One crucial step is marshalling the estate assets. This involves meticulously identifying and inventorying all of a deceased person’s assets, which can include real estate, bank accounts, investments, vehicles, and personal property.
Consequently, it’s vital to create a comprehensive list of these assets. The executor or administrator then needs to determine the fair market value of each asset at the time of death. This valuation information is essential for filing accurate tax returns and distributing assets fairly among beneficiaries.
To ensure transparency and accountability, the inventory and appraisal must be formally documented and filed with the probate court using Forms DE-160/161. Ordinarily, this step requires careful attention to detail and a thorough understanding of asset valuation principles.
Have you encountered any challenges while marshalling estate assets?
You bet! I recall one instance where a deceased individual owned several rare coins that were initially overlooked. The family wasn’t aware of their existence until we stumbled upon them tucked away in a safety deposit box.
Not only did these coins significantly increase the value of the estate, but they also held sentimental value for the heirs. Discovering them brought closure and peace to the family during an already difficult time.
It’s moments like these that remind me how important it is to be thorough and meticulous when marshalling assets.
What advice would you give to individuals planning their estates?
My best advice is to seek guidance from a qualified probate attorney early in the process. A skilled attorney can help you navigate the complexities of estate planning and ensure that your wishes are carried out accurately. Moreover, remember that estate planning isn’t just for the wealthy. Anyone with assets, regardless of their value, should have a plan in place.
According to a recent study by the American Bar Association, over 50% of Americans do not have a will or trust. This lack of planning can lead to unnecessary complications and financial hardship for loved ones after death.
How can our viewers get in touch with San Diego Probate Law?
We are committed to providing compassionate and effective legal representation during what can be a difficult time. Contact us today to schedule a consultation and discuss your estate planning needs. We’re here to help you protect your legacy and ensure your loved ones are taken care of.
“Steve Bliss was incredibly helpful in guiding me through the probate process after my mother passed away. He explained everything clearly and made sure I understood my options every step of the way.” – John S., San Diego
“I highly recommend San Diego Probate Law to anyone dealing with estate matters. Steve is a true professional who goes above and beyond for his clients.” – Mary T., Carlsbad
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 to jointly owned property in probate?” Or any other related questions that you may have about Probate or my probate law practice.
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