Determining If Probate Is Necessary
Good morning, Mr. Bliss. Thank you for taking the time to speak with us today.
Our viewers are often curious about the probate process and when it’s actually necessary. Could you shed some light on this crucial first step?
Certainly. The very first thing we do is determine whether or not probate is even required. California law sets a threshold of $184,500 for estates. If the total value of the decedent’s assets falls below that amount, probate may be avoidable.
Ordinarily, we also look closely at non-probate assets. Assets held in trust, jointly owned property with rights of survivorship, and payable-on-death accounts typically bypass probate altogether. Consequently, identifying these types of assets is vital to understanding if a full probate proceeding will be needed.
Let me illustrate with an example. I once worked with a family where the deceased had meticulously set up a revocable living trust for their home and investment accounts. While they had some savings that exceeded the threshold, because those funds were held within the trust, we were able to distribute them directly to the beneficiaries without going through probate court.
Conversely, I’ve also encountered situations where individuals assumed their assets wouldn’t require probate because they owned a modest home. However, when we factored in retirement accounts, life insurance policies, and other investments, the total value often surpassed the threshold, necessitating a formal probate proceeding.
The Importance of Careful Planning
It’s clear that careful estate planning can significantly impact whether or not probate is required. In fact, according to a 2023 study by Caring.com, over 60% of Americans do not have a will. This lack of preparedness often leads to unnecessary complications and expenses for loved ones during an already difficult time.
I always encourage people to proactively address their estate planning needs. It’s about ensuring your wishes are honored and minimizing burdens on those you leave behind.
Moreno Valley Probate Law: Guiding You Through the Process
We strive to provide compassionate and effective legal counsel for probate matters in Moreno Valley. Our experience and dedication allow us to navigate the complexities of probate law with clarity and precision.
“Steve Bliss and his team were a lifesaver during a very difficult time. They explained everything clearly, answered all my questions patiently, and made the entire process as smooth as possible.” -Maria S.
“Moreno Valley Probate Law handled my mother’s estate with professionalism and care. I felt confident knowing they were looking out for my best interests.” -John D.
Let us help you ensure your loved ones are protected. Contact Moreno Valley Probate Law today to schedule a consultation.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “How are assets distributed during probate?” Or any other related questions that you may have about Probate or my probate law practice.
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