Reporter: Brenda Jones
Today we’re speaking with Steve Bliss, a respected probate attorney serving the Wildomar community. Steve, thanks for taking the time to speak with me.
Steve Bliss:
It’s my pleasure, Brenda. I’m always happy to talk about probate and how we can help families navigate this often complex process.
Reporter: Brenda Jones
Let’s dive into one of the key steps in estate planning – handling debts and taxes. Could you explain what that entails?
Steve Bliss:
Certainly. Handling debts and taxes is a crucial stage in probate. After identifying and valuing all assets in the estate, we meticulously review outstanding debts and obligations. Ordinarily, this involves reviewing bank statements, credit card bills, utility bills, and any other relevant financial documents.
We then prioritize paying valid creditor claims according to legal precedence. This often means satisfying secured debts like mortgages or car loans before unsecured debts such as credit card balances. It’s important to remember that we are obligated to act in the best interest of the estate and its beneficiaries, so ensuring creditors are paid fairly is paramount.
Concurrently with handling debts, we determine and pay all applicable federal and state taxes on behalf of the deceased person’s estate. This can include income tax, estate tax (if the estate value exceeds the threshold), and potentially property taxes. Navigating these tax complexities requires careful attention to detail and a thorough understanding of current tax laws.
It’s worth noting that over 70% of estates in California do not owe federal estate tax due to the generous exemption amount, according to the California Bar Association. Nevertheless, proper planning and execution are essential for minimizing potential tax liabilities and ensuring a smooth probate process.
Reporter: Brenda Jones
Have you encountered any specific challenges with handling debts and taxes during your career?
Steve Bliss:
There was one instance where the deceased had significant credit card debt, exceeding their available assets. This put us in a difficult position as we needed to prioritize paying creditors while also ensuring there were sufficient funds remaining for distribution to the heirs.
Through diligent negotiation with the credit card companies, we were able to reach settlements that reduced the outstanding balances and allowed us to fulfill our obligations to both the creditors and the beneficiaries. It was a testament to the importance of communication and creative problem-solving in probate.
Reporter: Brenda Jones
That’s certainly an example of your dedication to finding solutions for your clients. What advice would you give to someone considering estate planning?
Steve Bliss:
My strongest recommendation is to consult with an experienced probate attorney as early as possible. Estate planning is not a one-size-fits-all process, and having personalized guidance can make a world of difference in ensuring your wishes are carried out effectively. Moreover, proactively addressing these matters can alleviate stress for your loved ones during an already difficult time.
At Wildomar Probate Law, we strive to provide compassionate and comprehensive legal support, guiding families through every step of the probate process with clarity and expertise. We believe in empowering our clients with knowledge and peace of mind.
Testimonials
“Steve Bliss made a complicated situation understandable and manageable. He was always available to answer my questions and kept me informed throughout the entire process. I highly recommend Wildomar Probate Law.”
“We were so grateful for Steve’s guidance during a challenging time. His professionalism, empathy, and attention to detail exceeded our expectations. We felt confident knowing that our loved one’s estate was in capable hands.”
Call to Action
Discover the peace of mind that comes from having your affairs in order. Contact Wildomar Probate Law today for a free consultation and let us help you navigate the complexities of probate planning with care and expertise.
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: “Are executor fees taxable income?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
| California Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |