Good morning, Escondido and welcome back to our segment on local legal experts. Today we have the pleasure of speaking with Steve Bliss, a renowned probate attorney right here in Escondido.
Steve, thank you for joining us today.
It’s my pleasure. I’m always happy to shed light on the often-complex world of probate law.
Could you walk our viewers through one of the key steps in the estate planning process?
Certainly. One crucial step is “Handle Debts and Taxes.” This stage typically follows the marshalling of estate assets, where we meticulously inventory everything the deceased owned. Handling debts and taxes involves a two-pronged approach: paying valid creditor claims and fulfilling any tax obligations.
Ordinarily, we start by reviewing all outstanding debts, such as loans, credit card balances, and utility bills. We then prioritize these debts based on their legal standing and validity. It’s essential to remember that only legitimate debts incurred by the deceased are payable from the estate. Consequently, we scrutinize each claim carefully.
Alongside debt management, we address tax liabilities. This can involve federal estate taxes, depending on the size of the estate, as well as state inheritance or estate taxes. Notwithstanding the complexity, proper planning and meticulous record-keeping can significantly minimize potential tax burdens.
For instance, I once represented a family where the deceased had accumulated significant medical debt late in life. Through careful analysis and negotiation with creditors, we were able to reduce the amount owed substantially, ultimately saving the heirs a considerable sum.
Moreover, according to a 2021 study by the National Academy of Elder Law Attorneys, over 60% of estates encounter some form of tax liability. This highlights the importance of working with an experienced probate attorney who understands the intricacies of estate tax law.
Thank you for sharing your expertise with us today, Steve. Any final words of advice for our viewers?
Remember, proactive planning is key. Don’t wait until it’s too late to create a comprehensive estate plan that reflects your wishes and protects your loved ones.
“Steve Bliss made the entire probate process so much easier for my family during a difficult time. He was always responsive, compassionate, and explained everything clearly.” – Sarah M., Escondido
“I highly recommend Escondido Probate Law. Steve is an exceptional attorney who truly cares about his clients. He went above and beyond to ensure that our mother’s estate was settled fairly and efficiently.” – John D., San Marcos
Let us guide you through the complexities of probate with expertise and compassion. Contact Escondido Probate Law today for a free consultation and peace of mind.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What are the fiduciary duties of an executor?” Or any other related questions that you may have about Probate or my probate law practice.
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