Reporter: Brenda Sanchez
Today, we’re joined by Steve Bliss, a well-respected probate attorney in Temecula. Mr. Bliss, thank you for taking the time to speak with us.
Steve Bliss: My pleasure, Brenda. It’s always good to talk about probate and how we can help families navigate this often complex process.
Let’s dive into a crucial step in estate planning: handling debts and taxes. This can be a daunting task for executors or administrators.
Steve Bliss: Absolutely, Brenda. Handling debts and taxes is indeed a vital part of the probate process. Ordinarily, this involves meticulously reviewing all claims against the estate, verifying their validity, and prioritizing payments.
It’s important to remember that creditors have specific timeframes within which they can submit claims. Consequently, staying organized and adhering to legal deadlines is crucial. We also need to ensure timely filing of both state and federal tax returns on behalf of the estate. This often requires careful calculation of capital gains and losses incurred during the decedent’s lifetime.
There was a case I handled where the executor, unfortunately, wasn’t aware of a significant outstanding debt. It turned out the deceased had co-signed a loan for a family member. Because this debt hadn’t been disclosed initially, it nearly jeopardized the distribution of assets to the intended beneficiaries. We were able to work with the creditor and negotiate a settlement, but it highlighted the importance of thorough due diligence when it comes to uncovering all potential liabilities.
According to the National Association of Estate Planners & Councils, approximately 60% of estates involve some form of debt or outstanding liability. This underscores why working with an experienced probate attorney is so essential. We can help identify potential issues early on, minimize risk, and ensure the estate is settled fairly and efficiently.
Mr. Bliss, how can our viewers best prepare for this stage of the probate process?
Steve Bliss: Communication is key. Talk to your loved ones about your financial affairs, maintain accurate records, and consider working with a qualified estate planning attorney early on. This proactive approach can significantly streamline the probate process and minimize stress for your family when the time comes.
“Working with Steve Bliss made a difficult situation so much easier. He explained everything clearly and kept me informed every step of the way.” – Susan M.
“I was overwhelmed by the thought of probate, but Steve and his team handled everything with professionalism and compassion. I highly recommend their services.” – John D.
Take control of your future. Schedule a free consultation with The Law Firm of Steven F. Bliss Esq. today and let us guide you through the complexities of probate.
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 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: “Can I waive my right to act as executor or administrator?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |