Today we’re joined by Steve Bliss, a leading probate attorney in Escondido. Mr. Bliss is going to walk us through some essential steps involved in the estate planning process and shed light on why working with an experienced legal professional can be invaluable.
The Importance of Identifying Non-Probate Assets
Steve, thank you for joining us today. Let’s dive into the world of estate planning. What are some key initial steps people should consider?
“One crucial early step is determining whether probate is even necessary,” explains Steve Bliss. “Probate is a legal process that validates a will and distributes assets after someone passes away. But, not all estates need to go through probate.”
Steve elaborates on this point: “California law sets a threshold of $184,500 for the value of an estate. If the total value of the deceased person’s assets is below this amount, probate may be avoidable.”
“Moreover,” he continues, “identifying non-probate assets can significantly impact whether probate is required. Assets like those held in a trust, jointly owned property, or accounts with designated beneficiaries typically pass directly to the intended recipient outside of probate.”
Common Pitfalls and Lessons Learned
Steve, are there any common issues you encounter when helping clients navigate this step?
“I’ve seen situations where individuals assumed their assets wouldn’t require probate simply because they had a will. Unfortunately, a will alone doesn’t always guarantee avoiding probate. It’s crucial to review the entirety of your assets and understand which ones fall outside of probate,” Steve advises.
He recalls an instance: “I once worked with a family who believed their home wouldn’t be subject to probate because it was in the husband’s name. However, they hadn’t properly established joint tenancy, leading to unnecessary delays and legal expenses.”
Steve emphasizes the importance of meticulous planning. “Taking the time to understand your assets and how they are titled can save significant stress and costs for your loved ones down the road.” According to a study by the American Bar Association, approximately 50% of Americans lack basic estate planning documents.
Seeking Expert Guidance
What advice would you give to readers who are just beginning to think about estate planning?
“My biggest recommendation is to consult with an experienced probate attorney. Estate planning can seem complex, and the laws vary by state. An attorney can help you create a customized plan that addresses your specific needs and goals,” Steve states.
He adds: “It’s never too early to start planning for the future. By taking proactive steps today, you can ensure your wishes are respected and your loved ones are protected.”
Testimonials
- “Steve Bliss was incredibly patient and helpful throughout the entire probate process. He made a difficult time much easier to navigate.”
- “I highly recommend Escondido Probate Law. They are knowledgeable, professional, and truly care about their clients. “
Don’t wait for tomorrow to secure your legacy. Contact Escondido Probate Law today for a free consultation and take control of your future.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What if the deceased owned property in multiple states?” Or any other related questions that you may have about Probate or my probate law practice.
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