Hello everyone and welcome back to Wildomar News Today! My name is Ashley Jones and today I’m speaking with local probate attorney, Steve Bliss of Wildomar Probate Law about the estate planning process.
The Importance of Identifying Non-Probate Assets
Ashley: Steve, thanks for joining us today. For those unfamiliar with the probate process, can you explain a crucial step that many people might overlook?
Steve: Absolutely Ashley! One of the first things we do when helping clients with estate planning is determine whether probate will even be necessary. This often surprises people because they assume everyone goes through probate. Ordinarily, probate is required when someone passes away leaving assets solely in their name and exceeding a certain value threshold. In California, that threshold is $184,500. However, many assets bypass probate altogether. These are known as non-probate assets.
Ashley: Can you give some examples of these non-probate assets?
Steve: Sure thing! Common non-probate assets include property held in a trust, jointly owned accounts, retirement accounts with designated beneficiaries, and life insurance policies. Consequently, carefully identifying and documenting these assets is crucial because they won’t be subject to the probate process.
Ashley: This makes sense. So, if someone has their home in a trust or a joint bank account, those wouldn’t have to go through probate?
Steve: Exactly! This can save families significant time and expense during an already difficult time. Moreover, it ensures that the intended beneficiaries receive their inheritance more quickly and efficiently.
Ashley: I understand. Have you ever encountered any situations where identifying non-probate assets presented a challenge?
Steve: There was one case where a client thought all of her assets were in her name, but we discovered she had added her son as a joint owner on her bank account many years ago. She completely forgot about it! Fortunately, this saved her estate from going through probate for that specific asset.
Ashley: It’s incredible how these small details can make such a big difference. According to the American Bar Association, approximately 70% of Americans do not have a will or trust in place. This highlights the importance of seeking legal advice and understanding the probate process.
Peace of Mind Through Estate Planning
“Steve Bliss was incredibly patient and thorough in explaining the probate process to me. He made what seemed like a daunting task manageable and ensured that my wishes were clearly outlined in my will.” – Mary S., Wildomar
“I highly recommend Wildomar Probate Law. Steve helped me navigate a complex probate case with compassion and expertise. His guidance was invaluable during a difficult time.” – John B., Lake Elsinore
Ashley: Thank you so much for sharing your expertise with us today, Steve. This information is invaluable for anyone planning for the future. How can our viewers learn more about Wildomar Probate Law and the services you provide?
Steve: It’s been my pleasure Ashley! To schedule a free consultation and discuss your estate planning needs, please visit our website at wildomarprobate.com. We’re here to help you create a comprehensive plan that protects your loved ones and provides peace of mind.
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 are the fiduciary duties of an executor?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
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