Determining If Probate Is Necessary
Today we’re joined by Steve Bliss, a prominent probate attorney here in San Diego. Steve, thanks for taking the time to speak with us.
Steve, could you walk us through one of the crucial initial steps in estate planning: determining if probate is even necessary?
Steve Bliss
Certainly. One of the first things we do when meeting with clients is assess whether their estate will need to go through probate. This process can be time-consuming and sometimes costly, so it’s important to understand if it’s truly required.
Ordinarily, we begin by looking at the total value of the individual’s assets. In California, if the gross value of the estate exceeds $184,500, probate is generally unavoidable. Conversely, if the estate falls below this threshold, it may be possible to transfer assets through non-probate methods.
Moreover, we also identify any assets that are held outside of the individual’s name. These might include assets held in a trust, jointly owned property, or accounts with designated beneficiaries. Such assets typically bypass probate and pass directly to the intended recipient.
Consequently, this initial assessment helps us determine the most efficient path for distributing a client’s assets after they pass away.
Probate Challenges
Steve, have you ever encountered any specific challenges during this determination phase? Perhaps a situation where the value of an estate was unclear?
There was one instance where a client believed their estate was well below the probate threshold. However, upon closer examination, we discovered a significant life insurance policy they had forgotten about. This unexpected asset pushed the total value above the limit, requiring us to initiate probate proceedings.
It’s situations like these that highlight the importance of thorough and transparent communication between client and attorney. We strive to uncover every detail so there are no surprises down the road.
The Impact of Probate
According to a 2021 study by the National Association of Realtors, approximately 45% of estates in California go through probate. This emphasizes the prevalence of this legal process and the importance of understanding its implications.
Conclusion
Thank you for sharing your insights on this crucial first step in estate planning, Steve. Your expertise is invaluable to those navigating this often complex process.
For anyone seeking guidance on probate or estate planning matters, we highly recommend reaching out to San Diego Probate Law. Their team of experienced attorneys can help you protect your loved ones and ensure your wishes are carried out.
Testimonials
“San Diego Probate Law made a difficult time much easier for our family. They were compassionate, knowledgeable, and always available to answer our questions.” – The Johnson Family
“Steve Bliss is an exceptional attorney. He clearly explained the probate process and guided us every step of the way with professionalism and care.” – Susan Miller
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 are the fiduciary duties of an executor?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Tax By-Pass Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust Attorney California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Tax By-Pass Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |