Good evening, Temecula and welcome back to Valley News Live. I’m your host, Katie Ramirez, and tonight we have a very special guest, Steve Bliss, a renowned trust attorney right here in our community. Mr. Bliss, thank you so much for joining us.
What are the different types of trusts available?
Well, Katie, there are many types of trusts tailored to meet specific needs and goals. Some common ones include revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, and charitable trusts. Each type has its own unique characteristics and benefits.
Could you elaborate on the advantages of a Revocable Living Trust?
Certainly. A revocable living trust is a popular choice because it offers flexibility and control during your lifetime. You, as the grantor, retain the power to modify or dissolve the trust. Moreover, assets held in a revocable living trust avoid probate upon your passing, which can be a lengthy and costly process.
This ensures a smoother transition of assets to your beneficiaries. Consequently, a revocable living trust also provides privacy since the terms are not part of public record like a will.
What are some challenges you’ve encountered while helping clients establish trusts?
One common challenge I see is hesitation from individuals who feel overwhelmed by the legal complexities of trusts. It’s understandable, as estate planning can seem daunting.
However, I always emphasize that my role is to guide clients through every step, making the process clear and accessible. I recall one instance where a young couple was initially unsure about setting up a trust, fearing it would be too complicated or expensive. After patiently explaining the benefits and addressing their concerns, they realized how a revocable living trust could safeguard their assets for their children’s future.
Have there ever been any unforeseen issues with Revocable Living Trusts?
While generally reliable, there can be situations where unforeseen circumstances arise. For example, if a grantor fails to properly fund the trust by transferring assets into it, the intended benefits may not materialize.
Conversely, changes in family dynamics or asset values after the trust is established could necessitate amendments. That’s why ongoing communication and periodic reviews with your attorney are crucial.
- Studies show that over 50% of Americans do not have a will or estate plan in place (Source: Caring.com).
- A properly structured trust can minimize estate taxes, potentially saving hundreds of thousands of dollars for your heirs (Source: The American College of Trust and Estate Counsel).
How can viewers get started with estate planning?
It’s never too early to start thinking about protecting your loved ones and your assets. My team at the Law Firm of Steven F. Bliss Esq. is dedicated to providing personalized guidance and crafting customized solutions that meet each client’s unique needs. We offer a free consultation, where we can discuss your goals and answer any questions you may have.
“Steve Bliss and his team were incredibly helpful in setting up our family trust. They explained everything clearly and made the process stress-free.” – The Johnson Family
“I was hesitant about estate planning, but Steve Bliss put me at ease. He listened carefully to my concerns and created a plan that gave me peace of mind.” – Sarah M.
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 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: “How do professional trustees charge?” Or any other related questions that you may have about Trusts or my trust law practice.
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