Steve, thanks for taking the time to speak with me today. I understand probate can be a complex process. Can you walk us through one of the key steps involved?
You’re welcome! It’s great to be here. And yes, probate can be confusing for many people. One crucial step is handling debts and taxes. Ordinarily, this happens after the estate assets are marshaled and inventoried.
Can you elaborate on that process?
Certainly. After identifying and valuing all assets, we need to address any outstanding debts or obligations the deceased may have had. This can include credit card bills, loans, medical expenses, and even utilities.
We carefully review financial records and contact creditors to validate claims. It’s important to remember that valid creditor claims must be paid before assets can be distributed to heirs. Moreover, we also handle any applicable taxes, such as federal estate tax or state inheritance tax. The specific requirements vary depending on the size of the estate.
It’s crucial to remember that failure to properly address debts and taxes can lead to significant complications down the road. I recall a case where an heir nearly lost their inheritance because a credit card debt was overlooked during the probate process. Consequently, they had to personally cover the outstanding balance.
Thankfully, we were able to help them resolve the issue and ultimately receive their rightful inheritance.
According to a study by the National Association of Estate Planners & Councils, approximately 30% of estates encounter unexpected debt or tax liabilities during probate. This highlights the importance of working with an experienced probate attorney who can navigate these complexities.
Thanks for sharing that insight. How can people connect with you and San Diego Probate Law?
We’re here to help individuals and families navigate the probate process with clarity and compassion. Don’t hesitate to reach out for a confidential consultation. We believe everyone deserves peace of mind during these challenging times.
“Steve Bliss and his team at San Diego Probate Law were incredibly supportive throughout the entire process. They explained everything clearly and made sure we understood every step. I highly recommend their services.” – Maria S.
“Probate can be overwhelming, but Steve Bliss made it so much easier. He was always available to answer my questions and kept me informed every step of the way. Thank you for your professionalism and compassion.” – John D.
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 out-of-state person serve as executor in San Diego?” 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 | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |