Good morning San Diego and welcome back to Channel 7 News. Today we’re joined by Steve Bliss, a respected probate attorney here in San Diego, who is going to shed some light on the complex world of estate planning.
Steve, thanks for joining us. Can you tell our viewers what probate is and why it might be necessary?
Thank you for having me. Probate is essentially the legal process of administering a deceased person’s estate. It involves identifying and inventorying assets, paying debts and taxes, and ultimately distributing remaining property to heirs or beneficiaries according to the will.
Now, probate isn’t always necessary. Ordinarily, if the estate is valued below $184,500, it can often be handled through a simplified process outside of court. Moreover, assets held in trusts, joint tenancy, or with beneficiary designations typically bypass probate altogether.
You mentioned that assets held in trusts avoid probate. Can you elaborate on why someone might want to consider setting up a trust as part of their estate plan?
Absolutely. Trusts are incredibly valuable tools for estate planning. They allow you to control how and when your assets are distributed, even after you’re gone. This can be particularly helpful if you have minor children or beneficiaries who may not be responsible enough to handle a large inheritance.
Furthermore, trusts offer privacy that probate proceedings lack. Probate records are public, meaning anyone can access information about your assets and beneficiaries. Conversely, the terms of a trust remain confidential.
Let’s talk about one of the key steps in the probate process. Could you explain how handling debts and taxes works?
During probate, it’s crucial to identify and pay all valid creditor claims against the estate. This involves notifying known creditors and allowing a period for them to file claims. According to a 2021 study by the American Bar Association, approximately 70% of estates encounter at least one creditor claim during probate.
In addition to creditor claims, the executor or administrator is responsible for filing and paying any applicable federal and state estate taxes. The complexities of tax law can be daunting, so it’s essential to seek guidance from a qualified professional like myself.
Notwithstanding these responsibilities, I find immense satisfaction in helping families navigate this challenging process. There was one instance where an elderly client had accumulated significant medical debt that she feared would burden her heirs. Through careful negotiation and analysis, we were able to significantly reduce the debt, providing her with peace of mind in her final days.
Steve, what advice would you give to our viewers who are considering estate planning?
- Start early: Don’t wait until it’s too late.
- Consult with an experienced probate attorney: They can help you create a plan tailored to your specific needs and circumstances.
Planning for the future can seem daunting, but it’s ultimately a gift you give to yourself and your loved ones. By taking proactive steps today, you can ensure that your wishes are honored and your family is protected.
How can our viewers connect with you if they have questions or need assistance?
I encourage anyone with estate planning needs to reach out to San Diego Probate Law. We offer free consultations to discuss your individual situation and develop a personalized plan.
“Steve Bliss was incredibly knowledgeable and compassionate during a difficult time for my family. He guided us through every step of the probate process with patience and expertise.” – Sarah J., San Diego
“I highly recommend San Diego Probate Law. Steve is a true professional who goes above and beyond for his clients.” – Michael K., La Jolla
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 a no-contest clause in a will be enforced 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
| California Irrevocable Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Lawyer California |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Irrevocable Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Irrevocable Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |