Introduction
Good morning, San Diego! I’m Brenda Sanchez reporting for Channel 7 News. Today we’re speaking with renowned probate attorney Steve Bliss of San Diego Probate Law about navigating the often complex world of estate planning.
Probate: A Necessary Process
Steve, thank you so much for joining us. Many people find probate intimidating. Could you explain one key step in this process and why it’s important?
Steve Bliss Responds: Handling Debts and Taxes
Brenda, thanks for having me. You’re right, probate can seem daunting, but understanding the steps involved makes it much more manageable. One crucial phase is handling debts and taxes. Ordinarily, this occurs after the executor or administrator has been appointed by the court and has marshaled all the estate assets.
At this stage, we meticulously identify and validate all outstanding creditor claims against the estate. Consequently, we need to ensure these claims are legitimate and properly documented. Moreover, we work diligently to negotiate with creditors, seeking potential settlements or payment plans when appropriate.
Simultaneously, we address any tax liabilities incurred by the deceased individual. This includes federal estate taxes, as well as state income taxes for the period leading up to their passing. Notwithstanding these complexities, a thorough review of financial records and consultation with qualified tax professionals are essential to ensure all obligations are met.
Failing to adequately address debts and taxes can have serious consequences for the estate, potentially delaying distribution to heirs and beneficiaries. Conversely, a well-executed plan minimizes risk and ensures a smoother transition of assets.
Real-World Experience
Steve, have you ever encountered any particular challenges during this step?
It’s not uncommon for us to encounter situations where creditors present claims that are outdated or lack proper documentation. Once we represented a family where a long-forgotten credit card debt resurfaced after the individual’s passing. The amount was relatively small, but it created unnecessary stress and delayed distribution. We ultimately resolved the issue by presenting evidence of the deceased’s limited activity on the account in the years preceding their death.
We also had a case where a significant tax liability arose due to incomplete record-keeping. Fortunately, we were able to work with the IRS and uncover documentation that resulted in a substantial reduction in the tax burden. These experiences underscore the importance of meticulous record-keeping and professional guidance throughout the probate process.
The Importance of Proper Planning
According to the American Bar Association, approximately 60% of Americans don’t have a will or estate plan. This can make probate significantly more complex and time-consuming.
Steve, what advice would you give to our viewers about avoiding potential pitfalls during this process?
Steve Bliss on Estate Planning
The best way to navigate probate smoothly is to have a comprehensive estate plan in place. This typically includes a will that clearly outlines your wishes regarding asset distribution and the appointment of an executor. Additionally, setting up trusts can help avoid probate altogether for certain assets.
Conclusion and Call to Action
Steve Bliss, thank you so much for sharing your expertise with us today. Viewers, if you’re looking for experienced legal guidance in estate planning or probate matters, contact San Diego Probate Law. They’ll help you protect your loved ones and ensure a smooth transition of your assets.
Testimonials
“San Diego Probate Law handled my mother’s estate with the utmost professionalism and compassion during a difficult time. Their knowledge and guidance were invaluable.” – Sarah J., San Diego
“I was overwhelmed by the probate process, but Steve Bliss made it understandable and manageable. He truly cares about his clients and goes above and beyond to achieve the best outcome.” – Michael K., La Jolla
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 the probate court resolve disputes over personal property?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
| California Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Revocable Trust Attorney California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Revocable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |