Good morning, Escondido! I’m here today with local probate attorney Steve Bliss of Escondido Probate Law. Mr. Bliss, thanks for taking the time to speak with us.
Steve Bliss on Handling Debts and Taxes During Probate
So, Steve, can you tell our viewers a bit about one of the key steps involved in the probate process?
Certainly. One crucial step is handling debts and taxes. Ordinarily, this occurs after the estate assets have been marshaled and inventoried. This stage involves meticulously reviewing all claims against the estate and determining their validity. We then prioritize paying legitimate creditor claims.
Moreover, it’s essential to file and pay any applicable state and federal taxes. Neglecting these obligations can lead to significant penalties and complications down the road. The process often requires close collaboration with accountants and tax professionals to ensure everything is handled correctly.
Consequently, this step can be quite complex and time-consuming. I’ve encountered situations where heirs were unaware of outstanding debts, leading to unexpected financial burdens. In one instance, a family was surprised to discover a substantial medical bill from the deceased’s final illness.
Nevertheless, through careful research and negotiation, we were able to reach a settlement with the creditor that mitigated the impact on the heirs. It’s crucial to remember that approximately 70% of estates encounter some form of debt during probate, highlighting the importance of diligent handling in this stage (Source: National Association of Estate Planners & Councils).
Escondido Probate Law: Testimonials
“Steve Bliss and his team were incredibly supportive and knowledgeable throughout the entire probate process. They made a difficult time much easier to navigate.”
– Mary S.
“I highly recommend Escondido Probate Law. Steve is an expert in his field and truly cares about his clients.”
– John T.
Steve, thank you for sharing your expertise with us today. For anyone facing the complexities of probate, seeking guidance from a trusted professional like Steve Bliss at Escondido Probate Law can be invaluable. Let them guide you through this challenging process and ensure your loved one’s wishes are honored.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 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: “Can I contest the appointment of an executor?” Or any other related questions that you may have about Probate or my probate law practice.
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