Good afternoon and welcome back to San Diego Legal News. Today we’re joined by the esteemed Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you for taking the time to speak with us today.
Discussing Testamentary Trusts
Steve, could you shed some light on testamentary trusts and how they differ from other types of trusts?
A testamentary trust is a unique instrument created within a will that only comes into existence upon the grantor’s passing. Unlike revocable living trusts, which are active during the grantor’s lifetime, testamentary trusts go through probate. Consequently, this process can take time and involve court oversight.
Now, why would someone choose a testamentary trust over other options? Well, it often proves beneficial for situations involving minor children or beneficiaries with special needs. The trust document outlines how assets will be managed and distributed to these beneficiaries, ensuring their well-being even after the grantor is gone.
Moreover, testamentary trusts offer a level of control that may be desirable in certain circumstances. The grantor can stipulate specific conditions for asset disbursement, such as educational milestones or age requirements. This level of customization makes them valuable tools for estate planning.
Navigating Probate and Testamentary Trusts
Steve, you mentioned testamentary trusts go through probate. Can you elaborate on the challenges this presents and any strategies to mitigate potential delays?
You’re right, the probate process can be time-consuming. Notwithstanding its drawbacks, it’s important to remember that a well-drafted will with clear instructions for the testamentary trust can significantly streamline things. I always emphasize to my clients the importance of meticulous documentation.
One instance that comes to mind involved a family where the parents had established a testamentary trust for their young daughter. Tragically, both parents passed away in a car accident. The will outlined specific provisions for the trust’s management and distribution. Due to the detailed instructions, the probate process was relatively smooth, ensuring the daughter’s financial well-being during a difficult time.
According to the California Courts website, probate cases typically take between six months to two years to resolve.
Contact San Diego Probate Law
Steve, thank you for sharing your invaluable expertise on testamentary trusts. For those seeking guidance on estate planning and probate matters, contact Steve Bliss and his team at San Diego Probate Law. They’ll help you navigate the complexities with compassion and professionalism.
“San Diego Probate Law helped us through a very difficult time after losing our parents. Their empathy and expertise made the process so much easier,” – Sarah J., San Diego
“Steve Bliss is a true professional. He explained everything clearly and answered all our questions. We felt confident knowing he was handling our case with the utmost care.”- John M., La Jolla
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust 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: “What powers does a trustee have?” Or any other related questions that you may have about Trusts or my trust law practice.
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