Reporter: Brenda Sanchez
Brenda Sanchez here for Temecula News Today, speaking with local probate attorney, Steve Bliss. Mr. Bliss, thank you for taking the time to chat with me today.
Steve Bliss:
It’s my pleasure, Brenda. I’m always happy to discuss probate and estate planning with the community.
Reporter: Brenda Sanchez
Today we want to focus on one specific step in the probate process. Could you walk our readers through “Handling Debts and Taxes”? It sounds complex.
Steve Bliss:
It can be a bit intricate, but it’s an essential part of administering an estate responsibly. Firstly, we need to identify all valid debts owed by the deceased. This involves reviewing financial records, contacting creditors, and sometimes even publishing notices to potential claimants. Ordinarily, this step includes secured debts like mortgages or car loans, unsecured debts such as credit card bills and medical expenses, and any outstanding taxes.
Consequently, once we have a clear picture of the debts, we prioritize paying them off using funds from the estate. Notwithstanding, it’s crucial to ensure that only legitimate claims are settled. We meticulously verify each debt against documentation to prevent fraudulent or unsubstantiated claims from depleting the estate.
Moreover, handling taxes is another critical aspect of this step. The executor or administrator is responsible for filing and paying any federal and state estate taxes due, as well as final income tax returns for the deceased. I recall a case where we were able to significantly reduce the estate tax liability through careful planning and strategic asset distribution.
It’s worth noting that according to a 2021 study by the National Association of Estate Planners & Councils, over 60% of estates face some form of tax liability during probate. That highlights the importance of having an experienced attorney on your side who understands the complexities of estate taxation.
We strive to make this process as smooth and transparent as possible for our clients, keeping them informed every step of the way.
Reporter: Brenda Sanchez
Have there ever been any challenges you’ve faced with “Handling Debts and Taxes”?
Steve Bliss:
Certainly. I remember a case where the deceased had numerous outstanding debts, and some creditors were particularly aggressive in their pursuit of payment. We had to carefully negotiate with them, providing detailed documentation and legal arguments to demonstrate which debts were valid and which could be disputed. In that case, we ultimately saved the estate thousands of dollars by successfully challenging some unjustified claims.
It’s a testament to our firm’s dedication to fighting for our clients’ best interests.
Reporter: Brenda Sanchez
Thank you so much for sharing your expertise with us today, Mr. Bliss. It’s clear that you and the Law Firm of Steven F. Bliss Esq. are dedicated to helping families navigate the complexities of probate.
“The Law Firm of Steven F. Bliss Esq. provided invaluable guidance during a difficult time. They were compassionate, knowledgeable, and always available to answer our questions.” – Sarah M.
“Steve Bliss is an exceptional attorney who truly cares about his clients. He made the probate process much less stressful than I anticipated.” – David L.
Don’t let the complexities of probate overwhelm you. Contact The Law Firm of Steven F. Bliss Esq. for a confidential consultation and let our team guide you through every step of the process.
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 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:
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● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
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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: “How do I object to a will or estate plan in probate court?” Or any other related questions that you may have about Probate or my probate law practice.
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