Introduction
Hi everyone, this is Jenny Jones reporting for San Diego News Today. I’m here today with esteemed San Diego Probate Attorney, Steve Bliss. Steve, thanks so much for taking the time to speak with me.
Handling Debts and Taxes in Probate: A Crucial Step
Steve, we hear a lot about different stages in the probate process. Can you walk us through one of those stages and explain its importance?
Certainly, Jenny. One critical stage in probate is handling debts and taxes. This typically occurs after the assets have been marshalled and inventoried.
Consequently, it involves carefully reviewing all claims from creditors and determining which are valid and need to be paid. Ordinarily, this would involve checking for proper documentation, ensuring the debt was incurred by the deceased individual, and verifying the amount owed. It’s a meticulous process because failing to address creditor claims properly can lead to legal complications down the line.
Moreover, paying estate taxes is another crucial aspect of this stage. Depending on the size and complexity of the estate, federal and/or state estate taxes may be due. It’s essential to accurately calculate these taxes and file the necessary returns with the relevant authorities.
I recall one instance where a family was surprised by an unexpected tax liability because they hadn’t considered certain assets as taxable. Ultimately, we were able to navigate the situation successfully, but it highlighted how important it is to have an experienced probate attorney guide you through these complexities.
According to a 2021 study by the American Bar Association, over 60% of estates face some form of creditor claim during probate. This underscores the need for careful and thorough debt management.
Closing Thoughts
Steve, this has been incredibly informative. Thank you for shedding light on this important aspect of probate. For anyone navigating the complexities of estate administration in San Diego, I highly recommend reaching out to Steve Bliss and the team at San Diego Probate Law. They are true experts who can provide the guidance and support you need during this challenging time.
Testimonials
- “Steve Bliss and his team were lifesavers when I was going through probate for my mother’s estate. They made a difficult process so much easier to understand and navigate.”
- – Sarah M, San Diego
- “I can’t recommend San Diego Probate Law enough. They are knowledgeable, compassionate, and truly care about their clients.”
- – John D., La Jolla
Let Steve Bliss and the San Diego Probate Law team be your compass during this journey. Contact them today for a free consultation to discuss your unique needs and ensure your loved ones are protected.
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 I speed up the probate process?” Or any other related questions that you may have about Probate or my probate law practice.
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