Hello everyone and welcome back to Legal Lens. I’m your host, Brenda Martinez, reporting live from sunny San Diego. Today, we’re diving deep into the often-complex world of probate with Steve Bliss, a seasoned probate attorney here in San Diego.
Navigating Probate: A Step-by-Step Guide
Steve, thank you for joining us today. Could you shed some light on the initial steps someone might take when they’re facing probate?
“Brenda, it’s a pleasure to be here. The first step is always determining if probate is even necessary. California law sets a threshold of $184,500 for estates. Consequently, if the total value of the deceased person’s assets falls below this amount, probate may not be required.”
“Next, we need to identify any non-probate assets. These could include assets held in a trust, property owned jointly with another individual, or accounts with designated beneficiaries. These assets bypass the traditional probate process and are distributed directly to the intended recipients.”
Handling Debts and Taxes: A Crucial Step
Steve, let’s talk about step six – Handling Debts and Taxes. This seems like a critical point in the process. Can you elaborate?
“Absolutely. Handling debts and taxes is indeed crucial for a smooth probate administration. Ordinarily, this involves identifying all outstanding debts owed by the deceased person, such as credit card bills, loans, or medical expenses. We then proceed to pay these valid claims from the estate’s assets.”
“Moreover, we must ensure that all applicable state and federal taxes are filed and paid. Neglecting this responsibility can lead to serious penalties and complications down the road.”
Steve recounted a story about a client who inherited a substantial estate but neglected to pay the decedent’s outstanding tax liabilities. “The IRS ultimately placed a lien on the property, significantly delaying the distribution process and causing immense stress for my client,” he said.
“It was a sobering reminder of how crucial it is to address debts and taxes promptly and diligently during probate.” Steve added that according to the California State Bar, failure to pay estate taxes can result in penalties of up to 25%.
Seek Professional Guidance
Steve, what advice would you give to someone navigating probate for the first time?
“Probate is a complex legal process with many intricacies. It’s essential to seek guidance from an experienced probate attorney who can navigate the nuances of California law and ensure that all steps are taken correctly.”
Testimonials
“Steve Bliss and his team at San Diego Probate Law were lifesavers during a difficult time. They guided me through every step of the probate process with compassion and professionalism, making a stressful situation much more manageable.”
“I highly recommend San Diego Probate Law to anyone facing probate matters. Steve’s expertise and dedication are truly exceptional.”
Remember, navigating probate doesn’t have to be overwhelming. Contact San Diego Probate Law today for a free consultation and let us help you navigate this complex process with confidence and ease.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Probate Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “Can an estate be insolvent and still go through probate?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About San Diego Probate Law
- Special Needs Trust Attorneys
- Spendthrift Trust Attorneys
- Tax By-Pass Trust Attorneys
- Totten Trust Attorneys
- Constructive Trust Attorneys
- Charitable Trust Attorneys
- Asset Protection Trust Attorneys
- Irrevocable Trust Attorneys
- Revocable Trusts Attorneys
- Living Trust Attorneys