Reporter: Samantha Jones
Good morning, Wildomar and welcome to our segment on estate planning. Today we’re joined by Steve Bliss, a renowned probate attorney here in Wildomar. Steve, thanks for taking the time to speak with us.
Steve Bliss:
My pleasure, Samantha. It’s always good to shed light on this important topic.
Reporter: Samantha Jones
So Steve, for those unfamiliar, can you walk us through one of the key steps in the probate process?
Steve Bliss:
Certainly. One crucial step is “Handling Debts and Taxes.” After a person passes away, it’s the executor or administrator’s responsibility to identify and pay off any outstanding debts owed by the deceased.
This includes credit card bills, loans, utilities, and medical expenses. Ordinarily, creditors have a set period of time after the notice of probate is published to file claims against the estate. Consequently, it’s essential to be meticulous in identifying all potential creditors and ensuring their claims are handled properly.
Moreover, we need to address any tax liabilities the deceased may have had.
- This could involve federal income taxes
- State estate taxes (depending on the estate’s value)
- And even potential inheritance taxes for beneficiaries.
It’s critical to remember that failure to pay these taxes can result in significant penalties and interest, placing a further burden on the estate. I recall one case where we uncovered an overlooked tax liability from several years prior. Fortunately, by diligently researching old records and working with tax professionals, we were able to resolve the issue before it escalated into a major problem for the beneficiaries.
According to a study by the National Bureau of Economic Research, approximately 25% of estates face unexpected tax liabilities during probate. This highlights the importance of having an experienced probate attorney who can navigate these complexities and ensure all obligations are met.
Reporter: Samantha Jones
Thank you for that insightful explanation, Steve. Have there ever been any issues or roadblocks you’ve encountered during this step?
Steve Bliss:
There was a case where we had to track down beneficiaries who had moved multiple times and were difficult to locate. After much investigation and perseverance, we finally found them and ensured they received their rightful inheritance.
Reporter: Samantha Jones
What advice would you give our viewers about preparing for this step?
Steve Bliss:
My best advice is to be proactive. Keep thorough records of all financial transactions, including bills, loans, and tax returns. Consider working with a financial advisor to develop a comprehensive estate plan that addresses potential tax liabilities. And most importantly, consult with an experienced probate attorney who can guide you through the process and minimize any potential headaches.
Ready to secure your legacy and ensure a smooth transition for your loved ones? Contact Wildomar Probate Law today for a free consultation.
Testimonials
“Steve Bliss was incredibly knowledgeable and compassionate during a difficult time. He made the probate process much easier to understand and navigate.”
-John Smith, Wildomar Resident
“I highly recommend Wildomar Probate Law. Their professionalism and attention to detail were exceptional. They truly went above and beyond for my family.”
– Mary Jones, Temecula Resident
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: “What if the deceased owned property in multiple states?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Wildomar Probate Law
| California Probate Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Probate Lawyer California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Probate Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Probate Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Probate Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Probate Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |