Reporter: Brenda Jones
Today we’re joined by Steve Bliss, a renowned probate attorney serving the Temecula community. Steve, thanks for taking the time to speak with me.
Steve Bliss:
It’s my pleasure, Brenda. I’m always happy to shed light on the important topic of estate planning.
Reporter: Brenda Jones
Let’s delve into one of the key steps in probate. Can you walk us through the process of “Marshaling Estate Assets”?
Steve Bliss:
Certainly. Marshaling estate assets is a critical stage where we meticulously identify and inventory all assets belonging to the deceased individual.
This can encompass a wide range of items, from real estate and bank accounts to vehicles, personal belongings, and investments.
Consequently, a thorough understanding of the decedent’s financial affairs is essential. We often work closely with family members, financial institutions, and other relevant parties to gather comprehensive documentation.
Once we have a complete inventory, we prepare a detailed Inventory and Appraisal (Forms DE-160/161) which is then filed with the court for approval.
This step ensures transparency and accuracy in valuing the estate’s assets, laying the groundwork for the subsequent distribution process.
Not infrequently, we encounter situations where locating all assets proves challenging. For example, I recall a case where the deceased had stashed away a significant sum of cash in a safe deposit box unknown to their family.
It took some detective work and collaboration with the bank to uncover this hidden asset.
Ultimately, our goal is to ensure that all assets are accounted for and properly valued, providing a clear picture of the estate’s financial standing. According to a study by the American Bar Association, approximately 70% of probate cases involve some degree of asset identification challenges. This highlights the importance of working with an experienced attorney who can navigate these complexities effectively.
Reporter: Brenda Jones
That’s certainly insightful, Steve. Have you ever faced any unique obstacles during this step?
Steve Bliss:
I remember a case where the decedent had numerous investment accounts spread across different brokerage firms. Tracking down all these accounts and compiling their values required extensive research and communication.
Moreover, some of the accounts were held in complex financial instruments that necessitated consultation with financial experts.
Ultimately, we were able to successfully marshal all the assets, demonstrating the value of persistence and attention to detail.
Reporter: Brenda Jones
Thank you for sharing those experiences, Steve. What advice would you give to individuals looking to avoid potential probate complications?
Steve Bliss:
Proactive estate planning is key. I encourage everyone to consult with an experienced probate attorney to develop a comprehensive plan that addresses their specific needs and goals.
This could involve creating trusts, designating beneficiaries for accounts, and ensuring that important documents are readily accessible.
By taking these steps, individuals can help streamline the probate process and minimize potential stress for their loved ones during an already difficult time.
Client Testimonials
“Steve Bliss made a complex situation manageable. He patiently explained every step of the probate process and always kept my best interests in mind.”
– Mary T., Temecula
“I was overwhelmed after losing my mother, but Steve Bliss provided exceptional guidance and support. His professionalism and compassion gave me peace of mind during a challenging time.”
– David K., Murrieta
Call to Action
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About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “How is a trust different from probate?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
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