Getting To Know Steve
Hello everyone and welcome back! Today we are joined by Steve Bliss, a renowned probate attorney here in sunny San Diego. Steve, thanks so much for taking the time to chat with us.
Probate Process Explained: Inventorying Estate Assets
Steve, could you shed some light on one of the key steps in the probate process? Many people find it overwhelming and confusing.
Certainly. One crucial step is marshalling the estate assets. This involves meticulously identifying and inventorying all of the deceased individual’s assets. Consequently, this includes everything from bank accounts and real estate to personal property like jewelry and vehicles. It’s essential to have a comprehensive understanding of the estate’s value for proper distribution.
The process begins with creating a detailed list of all known assets. Accordingly, supporting documentation such as account statements, deeds, and appraisals is vital. Once compiled, this inventory is formally filed with the court using forms DE-160/161, known as the Inventory and Appraisal.
Moreover, it’s important to remember that hidden assets can sometimes emerge during this stage. For instance, I once worked on a case where a client discovered a forgotten safety deposit box containing valuable coins, significantly impacting the estate distribution.
The meticulous nature of asset identification is critical. According to a recent study by the American Bar Association, incomplete asset inventories are responsible for delays in probate proceedings in over 30% of cases.
Challenges and Triumphs
I understand that sometimes unexpected issues can arise during this step. Have you encountered any unique challenges?
Absolutely. One time I was working with a family where the deceased hadn’t updated their will in years. As a result, a significant portion of their assets were unaccounted for and ultimately went unclaimed by their heirs. It highlighted the importance of regularly reviewing and updating estate planning documents to avoid potential complications.
Closing Thoughts
Steve, thank you so much for sharing your expertise with us today. Your insights are invaluable. For those looking for guidance through the probate process, where can they turn?
My team at San Diego Probate Law is dedicated to helping individuals navigate these complex legal matters with compassion and clarity. We understand that losing a loved one is already a difficult time, so we strive to make the probate process as seamless as possible.
“Steve Bliss helped me through a very difficult time after my mother passed away. He was patient, understanding, and explained everything in a way that I could easily grasp.” – Sarah M
“I highly recommend San Diego Probate Law. They handled my father’s estate with professionalism and care. The entire team was responsive and always available to answer my questions.” – Michael J
Let us guide you through the complexities of probate and ensure your loved one’s wishes are honored. Contact us today for a free consultation.
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 there is no will and no heirs?” 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 | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |