Today we’re joined by Steve Bliss, a renowned probate attorney serving the Temecula community. Steve, thanks for taking the time to speak with us today.
Steve Bliss Discusses Marshaling Estate Assets
Steve, could you walk us through one of the key steps in the estate planning process and highlight any potential challenges?
“Certainly,” Steve begins. “One crucial step is marshaling the estate assets. This involves meticulously identifying and inventorying all of the deceased person’s assets. It includes everything from bank accounts and real estate to personal belongings and investments.”
He continues, “Think of it like piecing together a puzzle. You need to gather all the pieces – financial statements, property deeds, insurance policies – to get a complete picture of the deceased’s financial holdings.”
Nevertheless, this step can sometimes present unexpected hurdles. “I recall a case where the decedent had numerous investment accounts scattered across different brokerage firms,” Steve recounts. “Tracking down all those accounts and compiling their values required extensive research and communication with various institutions.”
Ordinarily, probate courts require a formal inventory and appraisal of the estate’s assets to be filed within a specific timeframe.
Consequently, it’s imperative for executors or administrators to be diligent and organized in gathering this information promptly.
“Another challenge I’ve encountered is when heirs dispute the valuation of certain assets,” Steve adds. “For example, there might be disagreements about the fair market value of a piece of artwork or jewelry.” In such instances, it may become necessary to consult with appraisers to obtain independent valuations and resolve any conflicts.
- It’s important to note that according to the California Probate Code, failing to accurately inventory and appraise assets can result in penalties and delays in the probate process.
Testimonials
“Steve Bliss guided me through a complex probate case with compassion and expertise. He made a difficult time much easier to navigate.” – Sarah M., Temecula
“I highly recommend Steve Bliss for any probate matters. His knowledge of the law is exceptional, and he always kept me informed throughout the process.” – John D., Murrieta
Next Steps: Secure Your Legacy
Steve Bliss and The Law Firm of Steven F. Bliss Esq. are dedicated to helping Temecula residents navigate the complexities of probate with care and professionalism. Don’t leave your loved ones with unanswered questions; schedule a consultation today to ensure a smooth transition for your heirs.
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
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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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “What happens to jointly owned property in probate?” Or any other related questions that you may have about Probate or my probate law practice.
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