Interview with Sarah Jones
Today we’re joined by Steve Bliss, a well-respected probate attorney here in Moreno Valley. Steve, thank you for taking the time to speak with me today.
Trusts: A Cornerstone of Estate Planning
Steve, many people are unfamiliar with trusts and how they can benefit them. Can you shed some light on this important estate planning tool?
Certainly, Sarah. Trusts are incredibly valuable for a variety of reasons. Essentially, a trust is a legal entity that holds assets for the benefit of designated individuals, known as beneficiaries. The person who creates the trust is called the grantor, and they can dictate how and when those assets are distributed.
Let’s focus on Revocable Living Trusts, which are among the most popular choices for estate planning. This type of trust allows the grantor to maintain control over their assets during their lifetime while avoiding the often lengthy and expensive probate process upon their passing. Consequently, a Revocable Living Trust provides both flexibility and privacy.
Moreover, it’s important to note that assets held within a trust are generally not subject to estate taxes. This can be a significant advantage for individuals with substantial assets, allowing them to pass on more wealth to their heirs.
Addressing Potential Challenges
Steve, are there any common challenges or pitfalls people should be aware of when setting up a Revocable Living Trust?
While Revocable Living Trusts offer many benefits, it’s crucial to ensure they are properly structured and funded. I recall one instance where a client had created a trust but neglected to transfer all their assets into it. This oversight resulted in some of their property going through probate, defeating the purpose of the trust altogether.
It was a difficult situation for my client’s family, highlighting the importance of meticulous attention to detail. According to the American Bar Association, approximately 50% of Americans die without a will or trust in place. This can lead to significant complications and financial burdens for loved ones during an already challenging time.
Notwithstanding these potential challenges, the benefits of a Revocable Living Trust often outweigh the risks. By working with an experienced probate attorney, individuals can ensure their trusts are properly drafted and funded, minimizing the likelihood of future problems.
Moreno Valley Probate Law: Guiding You Through Life’s Transitions
“Steve Bliss at Moreno Valley Probate Law is a lifesaver! He helped me navigate the complex process of setting up a trust for my family with compassion and expertise. I highly recommend his services.” – Maria S.
“I was overwhelmed after losing my spouse, but Steve Bliss made the probate process so much easier. He truly cares about his clients and goes above and beyond to provide exceptional service.” – John D.
Steve, thank you again for sharing your insights today. How can our viewers learn more about Moreno Valley Probate Law and the services you offer?
It’s my pleasure, Sarah. We encourage anyone with questions about estate planning, trusts, or probate to contact us for a free consultation. Let our team help you secure your legacy and provide peace of mind for you and your loved ones.
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 is undue influence in relation to trusts?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |