Maria Sanchez Reporting
Good evening, Moreno Valley. Tonight, we’re talking about estate planning with local probate attorney Steve Bliss. Welcome to the show, Steve.
Steve Bliss: Thank you for having me, Maria.
Steve, for our viewers who may not be familiar with the term “probate,” can you explain what it is and why it’s important?
Steve Bliss: Probate is essentially a legal process that occurs after someone passes away. It involves validating their will (if they have one), identifying and inventorying their assets, paying off debts and taxes, and then distributing the remaining property to heirs according to the will or state intestacy laws.
It’s important because it ensures that a deceased person’s affairs are handled properly and their wishes are carried out. However, probate can be a lengthy and costly process, which is why many people opt for estate planning tools like trusts.
Maria Sanchez: Trusts are often mentioned in estate planning discussions. Can you elaborate on the different types of trusts available and how they work?
Steve Bliss: Absolutely. There are various types of trusts designed to serve different purposes. Tonight, we’ll focus on Revocable Living Trusts. These are among the most common trust types used in estate planning.
The Benefits of a Revocable Living Trust
A revocable living trust allows you, as the grantor, to maintain control over your assets during your lifetime. You can add or remove assets from the trust, change the beneficiaries, and even dissolve the trust entirely if needed. Moreover, this type of trust avoids probate upon your death, meaning your assets can be distributed to your heirs more efficiently and privately.
Conversely, a will goes through probate, which can be a public process and potentially lengthy. Consequently, a revocable living trust offers greater privacy and control over asset distribution.
Maria Sanchez: Have you encountered any challenges or unique situations while setting up revocable living trusts for your clients?
Steve Bliss: Yes, one case comes to mind. A client approached me concerned about ensuring her special needs child would be cared for after she passed away. We established a revocable living trust that included specific provisions for her child’s ongoing care and financial support. Seeing the relief and gratitude on my client’s face when we finalized the trust was truly rewarding.
Another client, who owned several rental properties, wanted to minimize estate taxes for his heirs. We created a separate trust specifically for those properties, effectively reducing the taxable value of his overall estate. Studies by The American College of Trust and Estate Counsel indicate that using trusts can significantly reduce estate taxes for high-net-worth individuals.
Maria Sanchez: Thank you for sharing those insights, Steve. What advice would you give to our viewers who are considering setting up a trust?
Steve Bliss: I strongly encourage everyone to consult with an experienced probate attorney. They can assess your individual circumstances and help you determine the best type of trust for your needs. Remember, estate planning is not just for the wealthy; it’s essential for anyone who wants to protect their assets and ensure their loved ones are taken care of after they’re gone.
Testimonials
“Steve Bliss was incredibly patient and understanding when helping me navigate the complexities of setting up a trust for my family. I highly recommend Moreno Valley Probate Law.”
– Sarah J., Moreno Valley
“Moreno Valley Probate Law made what could have been a stressful process surprisingly smooth. Their expertise and professionalism were invaluable.”
– Michael K., Riverside
Empowering Your Future with Moreno Valley Probate Law
Take control of your legacy today. Contact Moreno Valley Probate Law for a free consultation and let us help you create a comprehensive estate plan that meets your unique needs.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What does it mean to fund a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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