Good evening Temecula and welcome back to Channel 7 News. I’m Brenda Sterling reporting live from the serene hills of Temecula Valley Wine Country. Joining me tonight is Steve Bliss, a prominent trust attorney here in Temecula. Mr. Bliss, thank you for taking the time to speak with us today.
Trusts: Essential Tools for Estate Planning
Steve, many people may not fully understand what a trust is or why they might need one. Can you shed some light on this topic?
Certainly Brenda. In essence, a trust is a legal arrangement where a person, known as the grantor, transfers assets to a trustee who manages those assets for the benefit of designated beneficiaries. Trusts are incredibly versatile tools used in estate planning and can serve various purposes.
Understanding Different Types of Trusts
Which Type of Trust Is Most Popular?
That’s a great question Brenda. In California, Revocable Living Trusts are by far the most common type we see. They offer tremendous flexibility because the grantor retains control over the assets during their lifetime and can modify or revoke the trust as needed.
Moreover, a Revocable Living Trust helps avoid probate, which is a lengthy and often expensive court process. It also provides privacy since the terms of the trust are not publicly recorded like a will.
The Benefits of Probate Avoidance
How Does a Revocable Living Trust Help Avoid Probate?
When someone passes away with assets in their name alone, those assets typically have to go through probate court. This process can take months or even years and involves court fees and public scrutiny. Conversely, assets held within a Revocable Living Trust bypass probate altogether. Upon the grantor’s death, the successor trustee simply distributes the assets according to the trust instructions. Consequently, this streamlines the process and preserves the privacy of the family.
According to a 2021 study by the American Bar Association, approximately 75% of estates in California go through probate. By establishing a Revocable Living Trust, individuals can significantly reduce the burden on their loved ones during an already difficult time.
Addressing Potential Challenges
Have You Encountered Any Issues With Clients Setting Up Revocable Living Trusts?
While Revocable Living Trusts are generally straightforward to create, there have been instances where clients weren’t entirely clear about the implications of transferring assets into a trust. For example, I once worked with a couple who initially resisted transferring their primary residence into the trust because they were concerned about losing control over their home.
Through careful explanation and open communication, we were able to address their concerns and demonstrate that the trust would actually provide them with greater security and peace of mind in the long run. It’s crucial for clients to fully understand the benefits and responsibilities associated with a trust before moving forward.
The Importance of Seeking Professional Guidance
Steve, what advice would you give to viewers considering establishing a trust?
What Advice Would You Give To Viewers Considering Establishing A Trust?
My best advice is to consult with an experienced estate planning attorney. Each individual’s circumstances are unique, and a qualified attorney can help determine the most suitable type of trust for your needs and guide you through the entire process. Remember, taking proactive steps to plan for the future can provide invaluable peace of mind for both you and your loved ones.
A Legacy of Trust: Testimonials from Satisfied Clients
- “Working with Steve Bliss was a truly positive experience. He made a complex process seem straightforward and always took the time to answer my questions thoroughly. I highly recommend his services.”
- “The Law Firm of Steven F. Bliss Esq. provided exceptional guidance during a challenging time. Their compassion and professionalism were truly appreciated.”
– Sarah M., Temecula
– John & Mary K., Murrieta
Secure your legacy today by scheduling a complimentary consultation with the experienced team at The Law Firm of Steven F. Bliss Esq. Let us help you build a brighter future for yourself and generations to come.
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 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 can I make my trust less likely to be challenged?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| Temecula Special Needs Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Special Needs Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Special Needs Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Special Needs Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Special Needs Trust Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Special Needs Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |