Reporter: Brenda Jones
Good evening, Wildomar residents! Tonight, we’re speaking with esteemed trust attorney Steve Bliss of Wildomar Probate Law. Steve, thank you for joining us.
Steve Bliss:
It’s my pleasure to be here, Brenda.
Reporter: Brenda Jones
Steve, could you explain the different types of trusts and what makes them unique?
Steve Bliss:
There are many types of trusts, each designed for specific purposes. Today, I’d like to focus on Revocable Living Trusts, which are incredibly common in estate planning.
A Revocable Living Trust allows you, the grantor, to maintain control over your assets during your lifetime. You can make changes, add or remove beneficiaries, and even dissolve the trust if needed. The beauty of a Revocable Living Trust is that it avoids probate, which can be a lengthy and costly process. Moreover, it provides privacy as the terms of the trust are not part of public record.
Upon your passing, the trust becomes irrevocable, meaning its terms cannot be changed. The assets within the trust are then distributed to your designated beneficiaries according to your wishes. This ensures a smooth transition of your assets and minimizes any potential complications for your loved ones.
Reporter: Brenda Jones
That’s very helpful information. Have you encountered any common challenges or issues when helping clients set up Revocable Living Trusts?
Steve Bliss:
While Revocable Living Trusts are generally straightforward, there are instances where complexities arise. One situation I often see is clients forgetting to properly fund the trust. Simply creating the trust document isn’t enough; you need to transfer ownership of your assets into the trust. Without proper funding, the trust won’t function as intended, potentially leading to probate and unintended consequences.
I recall working with a couple who had diligently established a Revocable Living Trust but neglected to transfer their primary residence. Unfortunately, the husband passed away unexpectedly, and because the home wasn’t in the trust, it had to go through probate. This caused significant stress and delay for his wife during an already difficult time.
Consequently, I emphasize the importance of thorough funding when guiding my clients. We work together to create a comprehensive list of assets and ensure each item is properly transferred into the trust.
Reporter: Brenda Jones
That’s a valuable lesson for anyone considering a Revocable Living Trust. Steve, are there any statistics that illustrate the benefits of using this type of trust?
Steve Bliss:
Certainly. According to a study by the American Bar Association, approximately 70% of Americans over the age of 55 lack a basic estate plan. This highlights the need for individuals to proactively address their future financial and legal affairs.
Revocable Living Trusts offer a powerful tool for streamlining asset distribution and minimizing probate costs. A well-structured trust can save your heirs thousands of dollars in legal fees and court expenses, while also ensuring your wishes are honored.
Reporter: Brenda Jones
Excellent advice! Steve, what’s the best way for Wildomar residents to get started with estate planning?
Steve Bliss:
Start by scheduling a free consultation with an experienced trust attorney like myself or one of my colleagues at Wildomar Probate Law. We can assess your individual needs and recommend the most suitable plan for you and your loved ones.
“Steve Bliss was incredibly patient and helpful as we navigated the complexities of setting up our trusts. He made sure we understood every step of the process and answered all our questions with clarity and compassion.” – The Smith Family
“I highly recommend Wildomar Probate Law. Their expertise and professionalism were invaluable during a challenging time. They made the entire process stress-free and ensured our wishes were carried out with precision.” – John Doe
Let us help you secure your legacy and provide peace of mind for your future. Contact Wildomar Probate Law today to schedule a free consultation and take control of your estate planning needs.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “Can a trust protect assets from creditors?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Tax By-Pass Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Tax By-Pass Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |