Reporter Barbara Jones
Good afternoon and welcome back to Wildomar News Now. I’m Barbara Jones here today with Steve Bliss, a local probate attorney specializing in helping families navigate the complex legal process after a loved one passes away. Steve, thank you so much for joining us.
Steve Bliss
Thank you for having me, Barbara. I’m happy to be here and share some information about the importance of probate with your viewers.
Barbara Jones
Let’s talk about one of the key steps in the estate planning process: Handling Debts and Taxes. This can often be a challenging aspect for families who are already grieving. Can you walk us through what this entails?
Steve Bliss
Certainly. Handling debts and taxes is a crucial part of administering an estate. Ordinarily, it involves identifying all outstanding debts owed by the deceased person, such as credit card bills, loans, medical expenses, and utility bills. We then prioritize these debts according to state law and use the assets from the estate to satisfy them.
Moreover, we are also responsible for filing any necessary tax returns on behalf of the estate. This might include federal income tax returns, state income tax returns, and potentially estate tax returns, depending on the size of the estate. Accurate record-keeping is essential during this process.
There was a case I handled recently where the deceased had accumulated significant medical debt, which came as a surprise to his family. They were understandably overwhelmed but relieved when we were able to identify and negotiate a settlement with the hospital, ultimately saving them thousands of dollars.
According to a 2021 report by the National Council on Aging, nearly one in four seniors have medical debt exceeding $10,000. This highlights the importance of careful financial planning during one’s lifetime and seeking legal advice when navigating complex financial matters after a loss.
Barbara Jones
That’s incredibly helpful information for our viewers, Steve. Thank you for sharing those insights. What are some of the common pitfalls people encounter during this step?
Steve Bliss
One common pitfall is failing to identify all debts. Sometimes creditors may not come forward immediately, and it’s essential to conduct a thorough search through the deceased person’s financial records. Another potential issue is miscalculating tax liabilities. Estate taxes can be complex, and working with an experienced probate attorney ensures accurate filings.
I recall a case where we discovered a previously unknown retirement account that significantly impacted the estate’s tax liability. Fortunately, we were able to adjust the distribution plan accordingly, minimizing the tax burden for the beneficiaries.
Barbara Jones
Steve, what advice would you give to someone who is facing this step in the probate process?
Steve Bliss
My best advice is to seek professional guidance from an experienced probate attorney. We have the knowledge and expertise to navigate these complexities, identify potential issues, and protect your interests. We can also help you understand your legal obligations and ensure that the estate is settled according to the deceased person’s wishes.
Remember, you don’t have to go through this alone.
Testimonials
“Steve Bliss was an invaluable resource during a difficult time. He explained every step of the probate process clearly and patiently, making me feel confident that my mother’s estate was in good hands.” – Janet S., Wildomar
“I highly recommend Wildomar Probate Law to anyone facing the complexities of probate. Steve and his team were professional, compassionate, and always available to answer my questions.” – David M., Lake Elsinore
Let us guide you through the process with compassion and expertise. Contact Wildomar Probate Law today for a free consultation.
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: “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.
Important Facts About Wildomar Probate Law
| California Constructive Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Constructive Trust Lawyer California |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Constructive Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Constructive Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Constructive Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Constructive Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |