Reporter:
Welcome back to San Diego News Tonight. Today we’re joined by probate attorney Steve Bliss from San Diego Probate Law. Steve, thanks for joining us.
Steve Bliss:
It’s great to be here. I appreciate the opportunity to talk about probate and estate planning with your viewers.
Reporter:
Let’s dive right in. For our viewers who might not be familiar, can you explain what probate is and why it’s often necessary?
Steve Bliss:
Probate is essentially the legal process of administering a deceased person’s estate. This involves identifying and valuing assets, paying off debts and taxes, and ultimately distributing remaining property to heirs or beneficiaries according to the will or state law if there isn’t a will.
It’s often necessary because it provides a structured and transparent way to settle someone’s affairs after they pass away. It ensures that creditors are paid, assets are properly distributed, and legal requirements are met.
Reporter:
You mentioned wills. What happens if someone dies without a will?
Steve Bliss:
When someone dies without a valid will, they are said to have died “intestate.” In California, the state has intestacy laws that determine how assets are distributed. Typically, these laws prioritize close family members like spouses and children.
However, dying intestate can lead to complications and potentially unintended outcomes. For instance, it might not reflect your wishes regarding asset distribution or guardianship of minor children.
Reporter:
So, having a will is crucial for ensuring one’s wishes are honored?
Steve Bliss:
Absolutely. A well-drafted will allows you to designate beneficiaries for your assets, appoint guardians for minor children, and even establish trusts to manage assets for specific purposes.
It gives you control over what happens to your property after you’re gone.
Reporter:
Let’s delve into one of the steps in the probate process. Can you walk us through “Marshaling the Estate Assets,” Steve?
Steve Bliss:
Marshaling the estate assets is a critical step where we identify, inventory, and value all of the deceased person’s assets. This can include real estate, bank accounts, investments, vehicles, personal belongings, and even digital assets.
We meticulously document everything and often engage appraisers for complex items like real estate or valuable collectibles. Accurate valuation is essential because it determines how debts are paid and ultimately how the remaining assets are distributed.
Conversely, if assets are undervalued, there might not be sufficient funds to cover all debts, potentially leading to legal complications.
For instance, I once worked with a family where a significant art collection was overlooked during the initial asset inventory. It turned out to be worth considerably more than anticipated, which allowed us to pay off additional debts and distribute more to the heirs.
Consequently, thoroughness in this stage is paramount.
Reporter:
That’s a powerful example of why attention to detail is so important in probate. Now Steve, are there any common challenges you face during the “Marshaling Estate Assets” step?
Steve Bliss:
Yes, one challenge is locating all assets, especially when someone has lived a complex life with multiple properties or investments. Sometimes heirs might not be aware of certain accounts or holdings.
Another hurdle can be valuing unique or sentimental items. For instance, determining the fair market value of a family heirloom might require expert appraisal and negotiation amongst beneficiaries.
Furthermore, according to the National Academy of Elder Law Attorneys, over 40% of estates involve disputes among heirs regarding asset distribution. Open communication and careful documentation can help minimize these conflicts.
Reporter:
Steve Bliss, thank you so much for sharing your expertise with us today.
Steve Bliss:
It was my pleasure. Remember, planning ahead is key to a smooth probate process. Contact San Diego Probate Law today for a free consultation and let us help you navigate the complexities of estate planning.
“Steve Bliss and his team were incredibly helpful during a difficult time. They explained everything clearly and made sure I understood every step of the process.” – Mary S.
“I highly recommend San Diego Probate Law. Steve is knowledgeable, compassionate, and always puts his clients first.” – John T.
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: “Can a will be enforced if not notarized?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Probate Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Probate Lawyer California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Probate Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Probate Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Probate Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Probate Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |