Today we have the pleasure of speaking with Steve Bliss, a renowned probate attorney serving the Wildomar community. Mr. Bliss has extensive experience guiding families through the complexities of estate administration. We’re here to discuss one of the crucial steps in this process.
Understanding the Importance of Marshaling Estate Assets
Steve, can you walk us through the significance of marshaling estate assets during probate?
“Marshaling estate assets is a fundamental step in ensuring that all of a deceased person’s property is accounted for and properly distributed. It involves identifying, locating, and valuing every asset belonging to the estate,” explains Steve Bliss.
“Ordinarily, this includes bank accounts, real estate, vehicles, investments, personal belongings, and even digital assets. A comprehensive inventory is essential for several reasons.”
“Firstly, it helps determine the total value of the estate, which is crucial for understanding whether probate is even necessary. Recall that in California, estates valued under $184,500 can often bypass probate entirely.”
“Secondly, marshaling assets allows us to identify any potential debts or liabilities owed by the deceased. This step ensures creditors are notified and have an opportunity to file claims against the estate.”
Challenges and Considerations
Have you encountered any particular challenges during this asset marshalling phase?
“It’s not uncommon to face situations where locating assets proves difficult, especially when dealing with complex financial arrangements or estranged family members. I recall one case involving a client whose father had amassed a substantial collection of rare coins hidden away in a safe deposit box. It took some meticulous detective work and communication with the bank to uncover this valuable asset.”
“Moreover, digital assets present a growing challenge. Accessing online accounts, social media profiles, and cryptocurrencies often requires navigating legal hurdles and obtaining court orders to ensure proper handling.”
Steve goes on to mention that according to a 2021 survey by the American Bar Association, over 70% of probate attorneys reported encountering difficulties with accessing digital assets during estate administration.
Seeking Expert Guidance
How can Wildomar Probate Law assist individuals navigating this crucial step?
“Our experienced team diligently works to identify and inventory all estate assets. We utilize a variety of resources, including financial statements, property records, and online databases. We also have established relationships with banks, financial institutions, and other entities to facilitate the asset gathering process.”
“Transparency and clear communication are paramount throughout this phase. We keep our clients informed every step of the way, addressing any questions or concerns they may have.”
Testimonials
“Wildomar Probate Law made a difficult time so much easier. They were compassionate, knowledgeable, and always available to answer my questions.” – Mary S.
“I highly recommend Steve Bliss and his team. Their expertise in probate law helped me navigate the complexities of settling my mother’s estate with confidence.” – John D.
Let Wildomar Probate Law guide you through the intricacies of probate. Contact us today for a free consultation and discover how our compassionate and experienced team can help you protect your loved one’s legacy.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “What is a bond in probate and when is it required?” Or any other related questions that you may have about Probate or my probate law practice.
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