Hello everyone, I’m Brenda Jones reporting for Wildomar News Today. We’re sitting down with Steve Bliss, a renowned probate attorney here in Wildomar, California. Mr. Bliss, thanks for taking the time to speak with us today.
Steve Bliss: It’s my pleasure, Brenda.
Today we’re going to delve into the world of estate planning and probate. Specifically, we’d like to understand one crucial step in this process – Marshaling Estate Assets. Could you walk our viewers through what this entails?
Marshaling Estate Assets: A Critical Step in Probate
Brenda, marshaling estate assets is essentially the act of gathering all the deceased person’s property and identifying its value. It’s a foundational step because it allows us to accurately determine the size and scope of the estate.
First and foremost, we must conduct a thorough inventory. This involves locating bank accounts, real estate holdings, investments, vehicles, personal belongings – anything of value belonging to the deceased.
Consequently, we meticulously document each asset, its estimated value, and its current location. Think of it as creating a detailed financial snapshot of the decedent’s life.
Once we have a comprehensive inventory, we file an Inventory and Appraisal with the court (using Forms DE-160/161). This document formally presents our findings to the probate judge for review and approval.
It’s essential because it sets the stage for the subsequent steps in the probate process, such as paying off debts, filing taxes, and ultimately distributing the remaining assets to beneficiaries.
I’ve seen cases where individuals haven’t kept thorough records of their assets, making this step more challenging. In one instance, a client’s family wasn’t aware of a significant life insurance policy that had been overlooked for years. Discovering it made a huge difference in the distribution and ultimately eased the financial burden on the beneficiaries.
Remember, according to the California Probate Code section 8800, the inventory must be filed within 90 days after letters testamentary or of administration are granted. Failure to comply can lead to delays and potential penalties.
The Importance of Diligent Record Keeping
Brenda, my experience has shown me that diligent record keeping is key. Encourage your loved ones to maintain organized financial records and keep their wills and important documents in a safe and accessible place.
This simple step can save families significant time, stress, and expense during the probate process.
Need Help Navigating Probate? Contact Wildomar Probate Law
If you are facing the complexities of probate or estate planning, Steve Bliss and his team at Wildomar Probate Law are here to guide you. They offer compassionate and experienced legal support to help you navigate this often challenging process.
Testimonial 1
“Working with Steve Bliss was a lifesaver during a difficult time. He explained everything clearly, kept me informed every step of the way, and truly made the probate process as smooth as possible.”
Testimonial 2
“I highly recommend Wildomar Probate Law. They are knowledgeable, professional, and genuinely care about their clients.”
Let Steve Bliss and the team at Wildomar Probate Law provide the expertise you need to ensure your loved ones are protected and their wishes are honored. Reach out today for a free consultation and discover how they can help you navigate this important journey with confidence and peace of mind.
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 are the penalties for mishandling probate funds?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
| California Irrevocable Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Irrevocable Trust Lawyer California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Irrevocable Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Irrevocable Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Irrevocable Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Irrevocable Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |