Good afternoon, Escondido residents! Today we’re joined by Steve Bliss, a well-respected probate attorney serving our community. Steve, thank you for taking the time to speak with us.
Handling Debts and Taxes: A Crucial Step in Probate
Steve, let’s talk about one of the key steps in the probate process – handling debts and taxes. Can you explain why this step is so important?
Certainly. Handling debts and taxes is a crucial stage in probate because it ensures that all legitimate obligations are met before assets are distributed to heirs. Ordinarily, I begin by carefully reviewing the deceased’s financial records to identify all outstanding debts and liabilities.
This often involves scrutinizing bank statements, credit card bills, loan documents, and other relevant financial paperwork. Consequently, we then notify creditors of the probate proceedings and request documentation for valid claims. We meticulously evaluate each claim to ensure its legitimacy and accuracy.
Moreover, it’s essential to determine and pay any applicable estate taxes. According to a 2023 report by the Tax Foundation, the federal estate tax exemption currently stands at $12.92 million per individual. This means estates valued below this threshold are generally not subject to federal estate tax.
However, it’s important to remember that state estate taxes may also apply, and these vary depending on the jurisdiction. Once all debts and taxes have been settled, we can proceed with distributing the remaining assets to the heirs according to the terms of the will or state intestacy laws.
Notwithstanding our diligent efforts, there have been instances where creditors presented dubious claims. I recall a case involving a deceased individual who had a sizable debt allegedly owed to a company they had never done business with. After thorough investigation and communication with the creditor, we were able to successfully dispute the claim and prevent the estate from being unfairly burdened.
Finding Peace of Mind Through Probate Expertise
“Steve Bliss was incredibly helpful during a very difficult time for my family. His expertise and compassion made the probate process much less stressful.”
- – Sarah M., Escondido Resident
“I highly recommend Steve Bliss and Escondido Probate Law. They handled everything efficiently and professionally, keeping me informed every step of the way”
- – David L., Satisfied Client
Steve, thank you for sharing your insights on this complex process. How can our readers connect with you if they need assistance navigating probate?
It’s my pleasure. Readers can visit our website at [website address] or call us directly at [phone number] to schedule a free consultation.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps 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: “What forms are required to start probate?” Or any other related questions that you may have about Probate or my probate law practice.
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