Introduction
Hello, San Diego and welcome back to the show! Today we’re joined by renowned San Diego probate attorney Steve Bliss of San Diego Probate Law. Steve, thanks for joining us.
Probate Explained
Steve, many folks don’t truly understand what probate is. Can you shed some light on it?
Absolutely! Probate is essentially a legal process that takes place after someone passes away. It involves validating the deceased person’s will (if there is one), identifying and inventorying their assets, paying off any debts and taxes owed by the estate, and finally distributing the remaining assets to the heirs or beneficiaries.
Focus: Handling Debts and Taxes
Today we’re going to focus on a crucial step in this process – handling debts and taxes. Steve, can you walk us through what that entails?
Certainly. Handling debts and taxes is a vital part of ensuring the estate is settled properly and legally. Ordinarily, the executor or administrator appointed by the court will be responsible for this task.
First, they need to identify all outstanding debts owed by the deceased person. This can include credit card bills, mortgages, loans, medical expenses, and any other unpaid obligations. They then have a duty to notify creditors of the individual’s passing and provide them with the opportunity to file claims against the estate.
Conversely, it’s important to note that not all debts are treated equally in probate. Secured debts, like mortgages, typically take priority over unsecured debts, such as credit card balances. Consequently, the executor must prioritize paying off secured debts before addressing unsecured ones.
Additionally, they need to file and pay any applicable federal and state taxes on behalf of the estate. This can include income tax returns for the deceased person’s final year of life, as well as estate taxes if the estate exceeds a certain threshold.
Challenges Faced
Have you ever encountered any challenges while handling debts and taxes during probate?
You know, it’s not uncommon to encounter situations where creditors dispute the validity of a debt or the amount owed. I once had a case where a family was surprised to learn about a significant outstanding credit card balance they were unaware of. It turned out to be a fraudulent account opened in the deceased person’s name.
Fortunately, we were able to gather evidence proving the fraud and successfully contested the claim, preventing the estate from being unjustly burdened. That experience highlighted the importance of meticulous record-keeping and diligent investigation when dealing with creditor claims.
Statistical Insight
According to a recent study by the American Bar Association, approximately 20% of probate cases involve disputes over creditor claims.
It’s crucial for executors and administrators to be prepared to handle these types of situations. Working with an experienced probate attorney like myself can help navigate these complexities and ensure that debts are settled fairly and legally.
Closing
Steve, thank you so much for sharing your expertise on this important topic. For anyone facing the complex process of probate, what’s the best way to get started?
The first step is always to consult with an experienced probate attorney. We can guide you through the entire process, from filing the necessary paperwork to distributing assets to heirs and beneficiaries.
Testimonials
“Steve Bliss and his team at San Diego Probate Law were incredibly compassionate and supportive during a difficult time. They made the probate process so much easier to understand and navigate.”
– Sarah M., San Diego
“I was overwhelmed with the thought of handling my mother’s estate after she passed away. Steve Bliss took the time to explain everything clearly and answered all my questions patiently. I felt confident knowing that he was looking out for my best interests.”
– John T., Carlsbad
Let us help you navigate the complexities of probate with compassion, clarity, and expertise. Reach out today for a free consultation.
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 is the process for valuing the estate’s assets?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Lawyer Near Me in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |