Steve, thanks for taking the time to speak with us today. Can you walk our viewers through one of the key steps in the estate planning process?
It’s my pleasure. One crucial step that often trips people up is “Marshaling the Estate Assets.” This involves a thorough inventory of all assets belonging to the deceased person, which can include everything from bank accounts and real estate to personal belongings and investments.
Consequently, it’s vital to have a clear understanding of what constitutes an asset. Many people overlook intangible assets like intellectual property or digital assets. A comprehensive list must be compiled for accurate valuation and distribution.
Moreover, after the inventory is complete, we file an Inventory and Appraisal with the court (Form DE-160/161). This document outlines each asset’s value, providing a transparent record for all parties involved.
It sounds complex. Have you ever run into any difficulties during this stage?
Certainly. I recall one case where locating a deceased client’s cryptocurrency holdings proved challenging. The family had no knowledge of these assets, and it took considerable time and effort to trace them back to online wallets.
Nevertheless, our perseverance paid off. We ultimately recovered the funds, which significantly benefited the heirs. This highlights the importance of thoroughness and diligence in marshaling estate assets.
That’s a powerful story. What advice would you give to individuals planning their estates?
My best advice is to be organized and communicative. Keep meticulous records of your assets, update them regularly, and inform trusted individuals about your financial affairs. This will make the probate process smoother for your loved ones.
According to a recent study by the American Bar Association, approximately 70% of Americans do not have a valid estate plan. Don’t become part of that statistic. Take proactive steps today to secure your legacy and ease the burden on those you leave behind.
Thank you for sharing your expertise with us today, Steve.
Remember, planning for the future doesn’t have to be daunting. Contact Escondido Probate Law for a free consultation and let our experienced team guide you through the process.
“Escondido Probate Law was an absolute lifeline during a difficult time. They were compassionate, knowledgeable, and always available to answer my questions.” – Sarah J.
“Steve Bliss is a true professional who went above and beyond to ensure that my mother’s estate was handled with care and respect.” – Michael P.
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 a no-contest clause in a will be enforced in Escondido?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Escondido Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |