Determining if Probate is Necessary
Today we are talking with Steve Bliss, a renowned probate attorney in Wildomar, about the intricate process of estate planning. Steve, can you walk us through one of the initial crucial steps?
“Certainly,” Steve begins. “One of the first things we do is determine if probate is even necessary. This often involves a two-pronged approach. Firstly, we assess the total value of the estate. In California, if the gross value of the estate exceeds $184,500, probate will likely be required. Secondly, we identify any assets that might bypass probate altogether.”
“These are often referred to as ‘non-probate assets’ and can include items held in trust, property owned jointly with rights of survivorship, or accounts designated with payable-on-death beneficiaries. By carefully examining the estate’s composition, we can pinpoint which assets fall under probate jurisdiction and which do not.”
“Understanding this distinction is crucial,” Steve emphasizes. “It allows us to streamline the probate process, potentially saving time and expense for the estate and its beneficiaries.”
Challenges with Probate
Steve, have you ever encountered any unique challenges when determining whether probate was necessary?
“There was this one case I remember vividly,” Steve recounts. “The decedent owned a sizable collection of antique cars. They were meticulously maintained and stored in a separate facility. While the total value of the estate exceeded the probate threshold, a significant portion was attributed to these vehicles. The client’s family initially assumed all the cars would be subject to probate.”
“However, upon closer examination, we discovered that the decedent had previously established a limited liability company (LLC) specifically for managing the car collection. This LLC held title to the vehicles and designated specific beneficiaries. Consequently, these valuable assets bypassed probate altogether.”
Finding Solutions
“That’s remarkable,” I respond. “How common is it for individuals to unknowingly have assets that avoid probate?”
“More often than you might think,” Steve replies. “According to a 2022 study by the American Bar Association, nearly 40% of estates contain at least one non-probate asset. This highlights the importance of working with an experienced probate attorney who can thoroughly analyze your estate plan and identify all potential avenues for minimizing probate involvement.”
Seeking Expert Guidance
“Steve, what would be your advice to someone starting the estate planning process?” I ask.
“Don’t wait until it’s too late,” Steve advises earnestly. “Proactively addressing your estate planning needs can save your loved ones considerable stress and expense down the road. At Wildomar Probate Law, we are committed to providing compassionate and personalized guidance to help you navigate this complex process with confidence. Contact us today for a free consultation and let us help you secure your legacy.”
Testimonials
“Steve Bliss was a godsend during a difficult time. He patiently explained every step of the probate process, making sure I understood all my options. His professionalism and genuine care were invaluable.”
-Margaret S.
“I highly recommend Wildomar Probate Law. Steve’s expertise and attention to detail ensured that my mother’s estate was handled efficiently and fairly. He truly went above and beyond”
– David M.
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 ancillary probate and when is it necessary?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
| California Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyer California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |