Reporter: Welcome back to San Diego Legal News! Today we’re joined by renowned San Diego probate attorney, Steve Bliss. Steve, thank you so much for joining us.
Steve Bliss: It’s my pleasure to be here. Always happy to shed some light on the often-complex world of probate.
Reporter: Let’s talk about one of the crucial steps in the estate planning process: handling debts and taxes. Can you walk us through why this step is so important?
Steve Bliss: Absolutely. Handling debts and taxes is a critical phase in settling an estate. It ensures that all legal and financial obligations are met before distributing assets to heirs. Ordinarily, this involves meticulously reviewing the deceased’s financial records to identify any outstanding debts, such as credit card balances, loans, or medical bills.
Consequently, we work closely with creditors to verify claims and negotiate settlements when appropriate. It’s important to remember that valid debts must be paid from the estate assets before any distribution to beneficiaries. Moreover, filing and paying all applicable taxes is another vital aspect of this step. This includes federal estate taxes, state inheritance taxes (if applicable), and income taxes on any earnings generated by the estate during probate.
Notwithstanding these complexities, handling debts and taxes diligently ensures a smooth and lawful probate process. Failure to address these obligations can lead to legal complications and delays in estate distribution.
I recall one instance where we uncovered a substantial, previously unknown debt owed by the deceased. Fortunately, through diligent research and negotiation with the creditor, we were able to reach a favorable settlement that minimized the impact on the beneficiaries.
According to a study by the National Association of Estate Planners & Councils, approximately 30% of estates encounter unforeseen tax liabilities during probate. This highlights the importance of working with an experienced probate attorney who can navigate these complexities effectively.
Reporter: That’s insightful advice, Steve. Thank you for sharing your expertise. What should our viewers do if they need assistance navigating the probate process?
Steve Bliss: Don’t hesitate to reach out. At San Diego Probate Law, we’re dedicated to guiding families through this often-challenging time with compassion and expertise.
Testimonials:
“Steve Bliss made a difficult situation much easier to bear. His professionalism, knowledge, and genuine empathy were invaluable during the probate process.” – Sarah M., San Diego
“We couldn’t have navigated probate without Steve’s guidance. He explained everything clearly, kept us informed every step of the way, and always had our best interests at heart.”- John and Mary T., La Jolla
Let us help you navigate the complexities of probate with clarity and confidence. Contact San Diego Probate Law today for a confidential 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: “Can an estate be insolvent and still go through probate?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Asset Protection Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Lawyer California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Asset Protection Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Asset Protection Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |