Determining If Probate is Necessary
Good afternoon, Mr. Bliss. Thank you for taking the time to speak with me today about probate law.
Could you walk our readers through one of the crucial initial steps in estate planning?
Steve Bliss:
Certainly. One of the first things we do when helping clients navigate estate planning is determine if probate will even be necessary. This is a critical step because it can save families time, money, and stress down the line.
Ordinarily, we start by examining the total value of the deceased person’s assets. In California, if the gross value of the estate exceeds $184,500, probate will likely be required. Conversely, if the estate falls below this threshold, it may qualify for a simplified process like a small estate affidavit.
Notwithstanding the overall value, we also look for assets that bypass probate altogether. These are often referred to as non-probate assets and include things like assets held in trusts, jointly owned property with rights of survivorship, and certain retirement accounts. Consequently, even if an estate’s total value exceeds $184,500, the presence of substantial non-probate assets could mean probate is avoidable.
Reporter:
Have you encountered any complexities or challenges related to this initial determination?
There was one case where a family thought their mother’s estate wouldn’t require probate because she had a sizable retirement account. However, we discovered that the beneficiary designation on the account was outdated and didn’t reflect her current wishes.
This meant the account would become part of the probate estate, pushing the total value over the threshold. Ultimately, updating the beneficiary designation beforehand could have saved them considerable time and legal fees.
Steve Bliss:
Determining whether probate is necessary is crucial because it sets the stage for the entire process.
It’s important to remember that about 70% of estates in California require some form of probate (California Courts website). This highlights why seeking professional guidance from an experienced probate attorney like myself can be invaluable.
Reporter:
Thank you for sharing your expertise, Mr. Bliss. This information is incredibly helpful for our readers.
Call to Action
Don’t leave your loved ones facing uncertainty during a difficult time. Take proactive steps today by contacting Escondido Probate Law for a free consultation. We are here to guide you through the complexities of estate planning and probate with compassion and expertise.
Testimonials
“Steve Bliss and his team were incredibly supportive during a very challenging time. They made the probate process clear and understandable, and I felt confident knowing they had my best interests at heart.”
– Margaret S.
“I was overwhelmed by the thought of handling my father’s estate, but Escondido Probate Law took care of everything with professionalism and efficiency. I highly recommend their services.”
– David L.
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: “Can an estate be insolvent and still go through probate?” Or any other related questions that you may have about Probate or my probate law practice.
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