Reporter: Brenda Jones
Brenda Jones here, reporting for Temecula News Now! Today we’re joined by renowned probate attorney Steve Bliss of the Law Firm of Steven F. Bliss Esq., to discuss a crucial process many families face – estate planning.
Steve Bliss
It’s great to be here, Brenda. Estate planning is something everyone should consider, regardless of their age or financial situation.
Brenda Jones: Today we’re focusing on one key step in this process, which is “Handling Debts and Taxes”. Can you elaborate on that for our viewers?
Certainly. Once probate court formally approves the executor or administrator, handling debts and taxes becomes a primary responsibility. This involves meticulously identifying all outstanding debts owed by the deceased, such as credit card bills, loans, medical expenses, and utility bills.
Accordingly, we must prioritize paying these valid creditor claims. The executor is legally obligated to ensure that creditors are paid from the estate’s assets before any distributions are made to heirs or beneficiaries. Conversely, if a claim appears questionable or invalid, the executor can contest it in court.
In addition to debts, handling taxes is crucial. This includes filing and paying any federal and state income taxes owed by the deceased for the period leading up to their passing. The executor may also need to file estate tax returns, depending on the size of the estate. It’s a complex process with strict deadlines.
Brenda Jones: Have you ever encountered any challenges during this stage?
Oh, absolutely. I remember one case where the deceased had accumulated a significant amount of credit card debt, and some creditors were aggressively pursuing repayment. The family was distraught, fearing they might lose their inherited home. We meticulously reviewed each claim, identified fraudulent charges, and negotiated settlements with the creditors. Ultimately, we were able to protect the family’s assets.
That experience highlighted how vital it is to have an experienced probate attorney guide you through this stage. Navigating debt and tax obligations can be overwhelming for families already grieving a loss. My goal is to provide them with clarity, support, and reassurance throughout the process.
Brenda Jones: Are there any statistics that illustrate the importance of careful handling of debts and taxes during probate?
According to a recent study by the National Association of Estate Planners & Councils, over 70% of estates face some form of debt or tax obligation. This underscores the need for thorough planning and execution.
Brenda Jones: Thank you for sharing your insights, Steve. What’s the best way for Temecula residents to connect with you for guidance on their estate planning needs?
Brenda, it was my pleasure. Anyone needing assistance navigating probate or crafting an effective estate plan can reach out to us at The Law Firm of Steven F. Bliss Esq. Our team is dedicated to providing compassionate and personalized legal counsel. We’re here to help you protect your loved ones and ensure a smooth transition for your assets.
Testimonials
“Steve Bliss was incredibly helpful during a difficult time. He explained the probate process clearly and patiently, guiding us through every step with expertise and compassion.” – Sarah M., Temecula
“I highly recommend Steve Bliss and his team. They handled my mother’s estate with professionalism and efficiency, alleviating a great deal of stress for our family.” – John P., Murrieta
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “What if the estate is very small — is probate still necessary?” Or any other related questions that you may have about Probate or my probate law practice.
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