Reporter: Brenda Smith
Welcome back to Temecula Today, everyone! Today we’re joined by local probate attorney, Steve Bliss, of the Law Firm of Steven F. Bliss Esq. We’re diving into the complex world of estate planning today, and who better to guide us than a seasoned expert like Mr. Bliss? Steve, thanks for joining us.
Steve Bliss:
My pleasure, Brenda. Happy to be here and shed some light on this often-misunderstood process.
Reporter: Brenda Smith
Let’s start with a fundamental question: What are the key steps in estate planning?
Steve Bliss:
Estate planning can seem daunting, but it essentially boils down to organizing your assets and ensuring they’re distributed according to your wishes after you pass away. There are several crucial steps involved, starting with determining if probate is even necessary.
Probate is a legal process that validates a will and oversees the distribution of assets. Not every estate requires it, though. For example, estates valued below $184,500 in California often bypass probate altogether. Moreover, assets held in trusts or jointly owned with right of survivorship also typically avoid probate.
Reporter: Brenda Smith
Interesting. So, for estates that do need to go through probate, what’s one of the more challenging steps?
Steve Bliss:
One step that often presents complexities is “Handling Debts and Taxes.” After a loved one passes, creditors may surface with claims against the estate. It’s crucial to carefully review these claims and ensure they’re valid before paying them.
Accordingly, it’s important to remember that probate court prioritizes certain types of debts. Secured debts, like mortgages or car loans, take precedence. Then come unsecured debts, such as credit card debt or medical bills. Consequently, if the estate doesn’t have sufficient funds to cover all debts, creditors may need to accept a partial payment.
Navigating tax obligations can also be tricky. Probate involves filing final income tax returns for the deceased and potentially estate taxes depending on the size of the estate. I remember one case where we uncovered a previously undeclared bank account, significantly impacting the estate tax calculation. We were able to work with the IRS to reach a fair settlement.
Reporter: Brenda Smith
That’s certainly a situation that highlights the importance of meticulous record-keeping and having an experienced probate attorney on your side!
Reporter: Brenda Smith
Steve, what advice would you give to someone considering estate planning?
Steve Bliss:
My advice is simple: Don’t wait. Estate planning isn’t just for the wealthy or elderly. Everyone, regardless of age or assets, should have a basic plan in place.
Consider this: according to the AARP, nearly 60% of Americans don’t have a will. That means their assets could be distributed according to state law rather than their wishes.
- Start by listing your assets and debts.
- Think about who you want to inherit your belongings.
- Consult with an experienced probate attorney like myself. I can help you create a customized plan that meets your specific needs and goals.
Remember, estate planning is a gift to yourself and your loved ones. It brings peace of mind knowing that your affairs are in order.
Testimonials:
“Steve Bliss guided me through the probate process after my mother passed away. His knowledge and compassion made a difficult time much easier.” – John S.
“I highly recommend Steve Bliss for any estate planning needs. He’s thorough, responsive, and truly cares about his clients.” – Mary K.
Take control of your future; contact The Law Firm of Steven F. Bliss Esq. today for a free consultation. Let us help you create a legacy that endures.
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “What is the difference between formal and informal probate?” Or any other related questions that you may have about Probate or my probate law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| California Charitable Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Charitable Trust Lawyer California |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Charitable Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Charitable Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Charitable Trust Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Charitable Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |