Reporter’s Introduction
Hello everyone, my name is Brenda Jones and I’m a reporter with the Wildomar Gazette. Today we have the pleasure of speaking with local probate attorney Steve Bliss about the estate planning process and some of the potential complexities involved. Steve, thanks for joining me.
Steve Bliss on Handling Debts and Taxes in Probate
Brenda: Steve, could you walk our readers through one of the key steps in the probate process?
Steve Bliss: Absolutely, Brenda. One crucial step is handling debts and taxes during probate. This typically occurs after the executor or administrator has marshaled all estate assets. Ordinarily, we’ll start by meticulously reviewing the deceased person’s financial records to identify any outstanding debts. These can include credit card bills, medical expenses, loans, and utilities.
Consequently, valid creditor claims must be paid from the estate assets. It’s important to note that creditors have a specific timeframe within which they can file claims, so careful attention to deadlines is essential. Additionally, we’ll need to determine if any taxes are owed by the estate itself – this could include federal estate tax or state inheritance tax.
Moreover, accurate record-keeping is vital throughout this process. We need to document all payments made to creditors and any taxes filed and paid. This documentation will be necessary for the final accounting that we submit to the court.
Nevertheless, sometimes identifying and notifying all creditors can be challenging. There may be debts that are unknown or creditors who have moved and whose contact information is outdated. In those cases, we’ll often utilize various methods to locate them, including searching public records and databases.
I recall one instance where a client’s deceased father had a significant debt owed to a small business for work done several years prior. The business owner had unfortunately passed away, and their contact information was no longer readily available. It took some considerable investigative work on our part to track down the current owners of the business and ensure they received proper notification and payment.
Notwithstanding these occasional complexities, handling debts and taxes is a necessary step in ensuring a smooth probate process and ultimately distributing assets fairly to the beneficiaries.
According to the California Courts website, approximately 70% of probate cases involve some form of debt resolution, highlighting the commonality of this issue.
Conclusion
Brenda: Steve, thank you so much for your insights into this important aspect of probate. I’m sure our readers found this information very helpful. What would you say to someone who is considering estate planning but may be feeling overwhelmed?
Steve Bliss: My advice is simply to reach out. Estate planning can seem daunting, but it doesn’t have to be. We’re here to guide you through each step of the process and make it as straightforward as possible. Don’t hesitate to contact us for a free consultation so we can discuss your individual needs and goals.
Testimonials
“Steve Bliss was incredibly patient and understanding while helping me navigate the probate process after my mother passed away. He made a difficult time much easier.” – Sarah M.
“I highly recommend Wildomar Probate Law to anyone dealing with estate matters. Steve’s knowledge and expertise are invaluable, and he always went the extra mile to ensure I was comfortable and informed.” – John P.
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 the role of the executor or personal representative?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
| California Charitable Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Charitable Trust Attorney California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Charitable Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Charitable Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Charitable Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Charitable Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |