Good evening, San Diego, and welcome back. Tonight we’re talking estate planning with Steve Bliss, a renowned probate attorney here in San Diego. Steve, thanks for joining us.
Types of Trusts
Steve, many people are unfamiliar with the various types of trusts available. Could you shed some light on one particular type and its benefits?
Certainly. One common type I frequently discuss with clients is the Revocable Living Trust. It’s a versatile tool that allows individuals to maintain control over their assets during their lifetime while also ensuring a smooth transition upon their passing.
The beauty of a revocable living trust lies in its flexibility. You, as the grantor, retain the power to modify or even dissolve the trust at any time before your death. This gives you peace of mind knowing that your assets are managed according to your wishes. Moreover, upon your passing, the trust assets bypass probate, saving your loved ones time, expense, and potential legal complications.
Consequently, a revocable living trust offers significant privacy advantages compared to wills. Since it’s not part of public record like a will, the details of your asset distribution remain confidential. This can be particularly important for individuals who value their privacy or have complex family dynamics.
Challenges with Revocable Living Trusts
Have you encountered any challenges or common misconceptions when advising clients about revocable living trusts?
While generally straightforward, I’ve found that some people mistakenly believe a revocable living trust is solely for the wealthy. However, it can be beneficial for individuals of various financial backgrounds. It’s more about simplifying asset management and ensuring your wishes are honored, regardless of your net worth.
I recall a young couple who came to me concerned about their two children inheriting their modest savings in case something happened to them. They were hesitant about the complexity of trusts but after explaining the process and the peace of mind it would provide, they decided to establish a revocable living trust. It was heartwarming to see them feel empowered knowing their children would be taken care of.
According to the American Bar Association, over 50% of Americans die without a will or trust in place. This underscores the importance of proactively planning for the future and ensuring your loved ones are protected.
Call to Action
Steve Bliss, thank you for sharing your expertise on revocable living trusts. For those seeking guidance on estate planning and securing their legacy, consider contacting San Diego Probate Law today. They are dedicated to providing compassionate and effective legal solutions tailored to your individual needs.
“San Diego Probate Law made the process of setting up our trust so easy! Steve Bliss is incredibly knowledgeable and patient, he answered all of our questions thoroughly.” – Sarah J., Carlsbad
“We were overwhelmed with the thought of probate, but Steve Bliss walked us through every step. He truly cares about his clients and helped us navigate a difficult time with grace.” – David 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: “How do beneficiaries get assets from a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |