Determining If Probate Is Necessary
Welcome back to our segment on estate planning. Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you so much for taking the time to speak with us.
Steve, can you walk us through the initial steps someone typically takes when planning their estate?
Identifying Probate Needs
Well, the very first step is determining if probate is even necessary. Ordinarily, this involves checking the value of the individual’s estate against California’s threshold, which currently stands at $184,500.
If the estate value exceeds this threshold, probate will likely be required. Conversely, estates valued below the threshold may qualify for streamlined processes, avoiding the formal probate court procedure.
It’s important to remember that not all assets are subject to probate. Assets held in trusts, jointly owned property with right of survivorship, and certain retirement accounts often bypass probate altogether. Consequently, a thorough review of asset ownership is crucial during this initial stage.
Challenges and Considerations
We’ve seen cases where individuals assume their estate is small enough to avoid probate, only to discover hidden assets that push the value over the threshold. This can lead to delays and complications if not addressed early on.
I recall one instance where a client believed her estate was well under the limit. However, upon further investigation, we uncovered a substantial life insurance policy she had forgotten about. This unexpected discovery necessitated the probate process, highlighting the importance of meticulous asset review.
The complexities involved in determining probate necessity can be overwhelming for individuals navigating this alone. Seeking professional guidance from an experienced probate attorney like myself can help ensure all assets are properly accounted for and the most efficient estate administration path is chosen.
Testimonials
“Steve Bliss and his team were incredibly compassionate and understanding during a difficult time. They guided me through every step of the probate process with clarity and professionalism, making a complex situation manageable.”
– Sarah J., San Diego
“I highly recommend San Diego Probate Law. Steve’s expertise in estate planning was invaluable. He helped me create a comprehensive plan that protects my family’s future.”
– John M., La Jolla
Don’t wait until it’s too late. Secure the future of your loved ones by proactively addressing your estate planning needs. Contact San Diego Probate Law for a consultation and let us help you navigate this important process with confidence.
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: “What if the estate is very small — is probate still necessary?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |