Determining If Probate Is Necessary: A Crucial First Step
Welcome back to San Diego News Now. Today, I’m joined by Steve Bliss, a prominent probate attorney here in San Diego. Steve, thanks for taking the time to speak with us today.
Steve, can you walk our viewers through one of the initial and most crucial steps in the estate planning process?
Identifying Probate Needs
Certainly. The very first step is determining whether probate is even necessary. This involves a two-pronged approach. First, we assess the value of the estate. In California, if the total value of assets subject to probate exceeds $184,500, probate proceedings will likely be required.
Conversely, estates valued below this threshold may qualify for simplified procedures or even bypass probate altogether. Second, we meticulously identify any non-probate assets. These are assets that pass directly to beneficiaries outside the probate process, such as assets held in trust, jointly owned property, or accounts with designated beneficiaries.
Consequently, by carefully evaluating the estate’s value and identifying non-probate assets, we can determine the appropriate course of action.
Challenges and Lessons Learned
Steve, have there ever been any particular challenges you’ve faced during this initial assessment phase?
One instance that comes to mind involved a family whose deceased patriarch had meticulously accumulated assets over his lifetime. While the estate exceeded the probate threshold, a significant portion was held in carefully structured trusts. This required a thorough review of trust documents and beneficiary designations to accurately determine the probate-liable assets.
Notwithstanding the complexity, uncovering those trust structures ultimately allowed us to minimize the estate’s exposure to probate. It underscored the importance of comprehensive estate planning that strategically utilizes non-probate vehicles.
Proactive Planning for Peace of Mind
Steve, what advice would you give to our viewers who may be considering their own estate plans?
My advice is simple: start early and seek professional guidance. According to a recent study by the American Bar Association, over 50% of adults do not have a will. This leaves loved ones vulnerable to potential legal complications and financial hardship during an already difficult time.
Contacting San Diego Probate Law
“San Diego Probate Law made a complex process feel manageable. Their expertise and compassion were invaluable during a challenging time.” – Sarah M.
“Steve Bliss is a true professional who goes above and beyond for his clients. He explained everything clearly and patiently, ensuring I understood every step of the probate process.”- John K.
Don’t wait until it’s too late. Take control of your legacy today by contacting San Diego Probate Law for a complimentary consultation. We are here to help you navigate the complexities of estate planning with ease and confidence.
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: “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 San Diego Probate Law
- Special Needs Trust Lawyers
- Spendthrift Trust Lawyers
- Tax By-Pass Trust Lawyers
- Totten Trust Lawyers
- Constructive Trust Lawyers
- Charitable Trust Lawyers
- Asset Protection Trust Lawyers
- Irrevocable Trust Lawyers
- Revocable Trusts Lawyers
- Living Trust Lawyers