Determining if Probate is Necessary: A Crucial First Step
Today, we’re speaking with Steve Bliss, a respected probate attorney serving the Wildomar community. Steve, thank you for taking the time to share your expertise with us.
Steve, can you walk our readers through the first crucial step in the estate planning process: determining if probate is necessary?
The Probate Threshold and Non-Probate Assets
Certainly. The initial step involves evaluating the deceased individual’s estate to ascertain whether it surpasses the probate threshold. In California, this threshold currently stands at $184,500. Consequently, if the total value of the estate exceeds this amount, probate proceedings will likely be required.
Moreover, it is essential to identify any assets that are not subject to probate. These are often referred to as “non-probate assets” and can include assets held in trusts, property owned jointly with rights of survivorship, and certain financial accounts designated with payable-on-death beneficiaries.
Notwithstanding the presence of non-probate assets, if the value of the remaining probate assets exceeds the threshold, probate will still be necessary.
Real-World Challenges
Steve, have you encountered any particular challenges with this initial assessment step in your practice?
Absolutely. One situation that comes to mind involved a family where a significant portion of the deceased’s assets was held in a retirement account with a named beneficiary. While the family initially believed probate wouldn’t be necessary, upon closer examination, it turned out that the beneficiary designation on the retirement account had become outdated. Consequently, the funds became subject to probate, leading to delays and additional expenses for the family.
This highlights the importance of regularly reviewing beneficiary designations and ensuring they align with current wishes. Another common challenge arises when individuals fail to properly title assets or create a will. These oversights can significantly complicate the probate process and lead to unforeseen legal complications.
Seeking Professional Guidance
Steve, what advice would you give to our readers about navigating this initial stage of estate planning?
My strongest recommendation is to consult with an experienced probate attorney. An attorney can help individuals understand the intricacies of California probate law and provide tailored guidance based on their specific circumstances.
According to a recent study by the American Bar Association, over 70% of Americans do not have a will or estate plan in place. This underscores the critical need for individuals to proactively address their estate planning needs and seek professional advice when necessary.
Taking Control of Your Legacy
Steve Bliss, thank you for sharing your valuable insights with us today. Remember folks, taking control of your estate planning ensures a smoother transition for your loved ones and minimizes potential legal complications.
Contact Wildomar Probate Law today to schedule a consultation and secure the future you envision.
Testimonials
“Steve Bliss and his team were incredibly compassionate and helpful during a very difficult time. They guided us through every step of the probate process with expertise and clarity.” – The Johnson Family
“I highly recommend Wildomar Probate Law. Steve’s knowledge and professionalism were invaluable in settling my mother’s estate efficiently and effectively.” – Susan Miller
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 Estate Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Estate Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Estate Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |