Today we’re joined by Steve Bliss, a well-respected probate attorney serving the Moreno Valley community. Mr. Bliss, thank you for taking the time to speak with us.
Steve: It’s my pleasure. I’m always happy to discuss probate and estate planning with folks.
Today, we want to delve into one of the crucial steps in the probate process. Can you tell us a bit about “Handling Debts and Taxes”?
Steve: Certainly! Handling debts and taxes is a vital stage in the probate process. Think of it as settling the deceased person’s financial affairs before distributing their assets to heirs.
Ordinarily, this involves identifying all outstanding debts – think credit card bills, loans, medical expenses – and verifying their validity. It’s important to remember that only legitimate debts are paid from the estate. Conversely, claims that are deemed fraudulent or excessive are challenged.
Moreover, we need to ensure all applicable taxes are filed and paid. This includes federal estate taxes, as well as any state-specific inheritance or death taxes. According to a 2023 report by the Tax Foundation, only about 0.1% of estates owe federal estate taxes due to the high exemption threshold.
I remember one case where we uncovered a substantial unpaid debt from years ago that the family was completely unaware of. It took some digging and negotiation with creditors, but we were able to resolve it fairly. Consequently, this stage often requires meticulous record-keeping and attention to detail.
Steve: You’re absolutely right. A seemingly small oversight can have significant repercussions down the line.
Ultimately, proper handling of debts and taxes ensures that the estate is settled responsibly and ethically, paving the way for a smooth distribution of assets to the rightful beneficiaries.
“Working with Moreno Valley Probate Law was a lifesaver during an incredibly difficult time. They guided me through every step of the probate process with compassion and expertise.” – Maria S., Moreno Valley
“Steve Bliss is a knowledgeable and dedicated attorney who truly cares about his clients. He made a complex situation manageable and helped me navigate probate with confidence.” – John M., Riverside
For expert guidance on navigating the probate process, contact Moreno Valley Probate Law for a free consultation.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley 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 Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What happens when an estate includes a business?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |