Determining if Probate is Necessary
Hi, I’m Brenda Barnes with KUSI News. Today, we’re talking with Steve Bliss, a renowned probate attorney in San Diego, about the estate planning process. Specifically, let’s discuss the crucial first step: determining whether probate is necessary.
Understanding Probate Thresholds and Non-Probate Assets
Steve, can you shed some light on how individuals know if their estate will require probate?
“Brenda, that’s a great question. The necessity of probate hinges primarily on the value of the deceased person’s estate. In California, estates valued at $184,500 or less are generally exempt from probate. Consequently, this means that if someone passes away leaving assets totaling less than that amount, their heirs can often distribute those assets without going through the formal probate process.
Moreover, it’s important to consider non-probate assets. These are assets that pass directly to beneficiaries outside of the will or probate court. Examples include assets held in joint tenancy, assets within a trust, and certain types of retirement accounts. Properly titling assets or establishing trusts during someone’s lifetime can significantly minimize or even eliminate the need for probate.
Conversely, if an individual’s estate exceeds the threshold and includes primarily probate assets, then formal probate proceedings are typically required.
Challenges and Solutions
I understand. Have you ever encountered any situations where determining the need for probate proved particularly complex?
“Absolutely. I recall a case involving a family business. The deceased owner hadn’t established a clear succession plan, and the value of the business was difficult to ascertain. We had to work with appraisers and financial experts to determine the accurate market value, which ultimately exceeded the probate threshold. It was a challenging process, but we were able to guide the family through it and ensure the smooth transfer of ownership.”
According to a 2021 study by the American Bar Association, approximately 30% of estates require formal probate proceedings. This highlights the importance of understanding the factors that influence probate eligibility.
Seeking Expert Guidance
That’s insightful, Steve. What would you recommend to individuals who are unsure whether their estate requires probate?
“My advice is simple: consult with an experienced probate attorney. They can assess your individual circumstances, review your assets, and determine the best course of action. Trying to navigate the complexities of probate without legal guidance can lead to costly mistakes and delays.”
Testimonials
“Steve Bliss and his team were incredibly supportive during a difficult time. They explained every step of the probate process clearly and made sure everything was handled efficiently.” – Margaret L.
“I highly recommend San Diego Probate Law. Steve’s expertise and compassion were invaluable as I navigated the complexities of settling my mother’s estate.” – John S.
Take control of your future and ensure a smooth transition for your loved ones. Contact San Diego Probate Law today to discuss your estate planning needs and receive personalized guidance from our experienced team.
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 assets go through probate in California?” Or any other related questions that you may have about Probate or my probate law practice.
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