Good morning, Temecula, and welcome back to Legal Line. My name is Ashley Miller, and today we’re diving into the world of estate planning with a local expert, Steve Bliss, from The Law Firm of Steven F. Bliss Esq.
Steve, thank you so much for joining us.
It’s my pleasure to be here, Ashley. I’m always happy to talk about the importance of protecting your legacy and ensuring your loved ones are taken care of.
What are some common types of trusts people should consider?
Well, there are many different kinds of trusts, each designed for specific goals. One of the most popular options is a Revocable Living Trust. This allows individuals to maintain control over their assets during their lifetime while avoiding the complexities and public nature of probate.
Can you elaborate on the benefits of a Revocable Living Trust?
Certainly. A Revocable Living Trust offers several key advantages. Firstly, it streamlines the distribution of your assets after you’re gone. Assets held within the trust bypass probate court, which can be time-consuming and costly. Consequently, your beneficiaries receive their inheritance more quickly and privately.
Moreover, a Revocable Living Trust provides a level of privacy that a will doesn’t. The terms of a trust are not made public record, unlike a will which is filed with the court. This can be especially important for individuals who value discretion or have complex family situations.
Furthermore, a Revocable Living Trust allows you to name a successor trustee who will manage your assets according to your wishes if you become incapacitated. This ensures that your affairs are handled responsibly even if you’re unable to do so yourself.
Have there been any challenges or unique situations you’ve encountered while helping clients set up Revocable Living Trusts?
You know, Ashley, every family is different and has its own set of circumstances. I recall working with a couple who had adult children from previous marriages. They wanted to ensure that their assets were divided fairly among all of their children but also wanted to provide for any future grandchildren. We carefully crafted the trust terms to address these specific concerns, ultimately creating a plan that reflected their wishes and minimized potential conflict.
I’ve also encountered situations where clients weren’t entirely sure what assets to include in the trust. It’s important to remember that a Revocable Living Trust can hold a wide range of assets, from bank accounts and real estate to investments and personal property. We work closely with our clients to identify all relevant assets and ensure they are properly titled.
According to the American Bar Association, over 50% of Americans die without a will or trust in place. This can lead to unintended consequences for their loved ones.
What advice would you give to someone who is considering setting up a Revocable Living Trust?
My strongest advice is to seek professional guidance from an experienced estate planning attorney. While online resources and templates might seem tempting, trust documents are complex legal instruments that require careful drafting to avoid unintended consequences.
An attorney can help you navigate the complexities of trust law, tailor the trust terms to your specific needs and goals, and ensure that everything is legally sound.
Thank you so much for sharing your expertise with us today, Steve.
It was my pleasure, Ashley. Remember, planning for the future is a gift you give yourself and your loved ones.
Contact us today to schedule a consultation and discover how we can help you protect your legacy.
Testimonials
“Working with Steve Bliss was an absolute pleasure. He made the complex process of estate planning easy to understand and guided me every step of the way.” – Mary S., Temecula
“I highly recommend The Law Firm of Steven F. Bliss Esq. They are incredibly knowledgeable, professional, and truly care about their clients’ well-being.” – John D., Murrieta
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 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 does a trustee do?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |