Meet Steve Bliss
Hello everyone and welcome back to our legal spotlight series. Today we have the pleasure of speaking with Steve Bliss, a well-respected San Diego Probate Attorney with years of experience guiding families through complex estate planning matters.
Testamentary Trusts: A Powerful Tool for Protecting Loved Ones
Steve, thank you so much for joining us today. For our viewers unfamiliar with the intricacies of estate planning, could you explain what a testamentary trust is and how it differs from other types of trusts?
“A testamentary trust is a unique instrument created through a will that only takes effect upon the grantor’s passing,” explains Steve. “Unlike revocable living trusts which can be modified during the grantor’s lifetime, testamentary trusts go through probate. This means the court oversees the distribution of assets according to the wishes outlined in the will.”
Steve continues, “Testamentary trusts are particularly beneficial when planning for minor children or beneficiaries who may require ongoing financial support but lack the maturity or capacity to manage significant sums independently.”
Safeguarding Inheritance for Future Generations
Could you elaborate on the advantages of using a testamentary trust in those specific situations?
“Absolutely,” says Steve. “Imagine a parent wanting to ensure their young child receives financial support for education or living expenses after they are gone. A testamentary trust allows them to designate a trustee who will responsibly manage and distribute funds according to the parent’s instructions. This safeguards the inheritance from being squandered prematurely and ensures the beneficiary’s long-term well-being.”
Steve recounts, “I once worked with a single mother who wanted to provide for her daughter’s college education after she passed away. We established a testamentary trust that would pay out funds directly to the university for tuition and living expenses. This alleviated the daughter’s financial burden and allowed her to focus on her studies without worrying about managing large sums of money.”
Navigating Probate: A Necessary Process
You mentioned that testamentary trusts go through probate. Can you shed some light on this process for our viewers?
“Probate is a legal proceeding where the court validates a will and oversees the distribution of assets,” Steve clarifies. “While it can seem daunting, it’s an essential step in ensuring assets are transferred according to the deceased’s wishes. The trustee named in the testamentary trust will work closely with the probate court to fulfill their fiduciary duties.”
Steve emphasizes the importance of choosing a trustworthy and experienced trustee: “Selecting someone with integrity and financial acumen is crucial. They will be responsible for managing the trust assets, making distributions to beneficiaries, and filing necessary reports with the court.”
Seeking Expert Guidance
What advice would you give to individuals considering setting up a testamentary trust?
“I strongly encourage anyone contemplating a testamentary trust to consult with an experienced probate attorney,” advises Steve. “Estate planning is complex, and there are many factors to consider. A qualified attorney can guide you through the process, help you choose the right type of trust for your needs, and ensure that all legal requirements are met.”
“Remember, a testamentary trust can be a powerful tool for protecting loved ones and ensuring their financial security in the future,” concludes Steve.
Testimonials
“Steve Bliss and his team at San Diego Probate Law were incredibly helpful during a difficult time. They made the probate process much less stressful and ensured everything was handled with professionalism and care.”
– Sarah M., San Diego
“I highly recommend Steve Bliss for any estate planning needs. He took the time to understand my unique situation and provided personalized advice that gave me peace of mind”
– David L., La Jolla
Take control of your legacy and secure a brighter future for your loved ones. Contact San Diego Probate Law today for a complimentary consultation.
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 happens to my trust if I move to another state?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Estate Attorneys |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorneys San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorneys |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Attorneys |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorneys San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Attorneys in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |