007: Effective Communication in the Probate Process with Bud Garvin

What role do probate referees play in the intricate world of California probate law?

Join Sam for this episode of Probate Notes as he sits down with Bud Garvin, an experienced probate referee with a fascinating background that transitions from business broker and appraiser to an appointed expert by the state comptroller's office. They unravel the unique journey of becoming a probate referee and the diverse expertise required, from real estate to legal and accounting knowledge. Bud shares insights from his time as the past president of the California Probate Referee Association, highlighting the importance of ongoing education and the distinct nature of this profession compared to traditional real estate appraisers.

Accuracy is the name of the game when it comes to inventory reporting in probate processes. In this session, Sam and Bud dissect common pitfalls that can hinder the appraisal process, such as omitting crucial parcel numbers and failing to provide adequate descriptions of assets. The conversation emphasizes the necessity of detailed documentation, including QSIP numbers for stocks and bonds, to ensure smooth and efficient appraisals. They also cover practical tips, such as double-spacing reports and precise dividend calculations, advocating for over-information rather than insufficient data to prevent unnecessary delays.

Appraising business assets presents unique challenges, particularly when dealing with the death of sole business practitioners. Sam and Bud also underscore the importance of comprehensive documentation and clear communication between legal staff and probate referees to avoid appraisal delays. Through real-world examples, they delve into common misunderstandings in asset valuations and the significance of proactive information sharing.

This episode is a treasure trove of practical advice for navigating the probate inventory and appraisal process, promoting collaboration and clarity for all parties involved.

In this episode, you will hear:

• Insights from Bud Garvin, an experienced probate referee, on the role and organization of probate referees in California
• Common mistakes in inventory reporting, emphasizing accuracy and thorough documentation to avoid delays
• Challenges in appraising business assets for probate
• Importance of effective communication and collaboration between legal staff and probate referees
• The neutral role of probate referees in the appraisal process, highlighting statutory fees and cost uniformity
• Real-world examples illustrating misunderstandings in asset valuations and the need for proactive information sharing
• Leveraging resources and seeking guidance from probate referees to ensure efficient probate processes

Resources from this Episode

The 6-Stage Probate Process: How to Navigate California Probate: https://a.co/d/82310Rw 

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