My name is Ashley Carter, and I’m a reporter here at KTEM News. Today we have the pleasure of speaking with Steve Bliss, a renowned trust attorney in Temecula. Mr. Bliss, thank you so much for joining us today.
Choosing The Right Trust For Your Needs
Steve: Ashley, it’s my pleasure to be here. As an estate planning attorney specializing in trusts, I often get asked which type of trust is best suited for individuals. While the ideal trust depends on a client’s unique circumstances and goals, I find that Revocable Living Trusts are incredibly beneficial for many people.
These trusts offer a high degree of flexibility, allowing clients to manage their assets during their lifetime while avoiding the lengthy and costly probate process upon death. Consequently, they provide privacy as the terms of the trust aren’t made public record unlike wills which go through probate.
Moreover, a Revocable Living Trust can be amended or revoked as circumstances change. For instance, if a client gets married or has children, they can easily adjust the trust to reflect these new family dynamics.
Conversely, Irrevocable Trusts offer greater asset protection but are less flexible once established. They’re typically used for specific purposes like minimizing estate taxes or shielding assets from creditors.
Have you ever encountered any challenges with Revocable Living Trusts?
Steve: While Revocable Living Trusts are generally straightforward, I have seen instances where clients don’t fully understand the implications of naming a trustee. It’s crucial to choose someone trustworthy and capable of managing your assets according to your wishes.
I recall one client who named their adult child as trustee, assuming they would automatically understand their intentions. However, the child had limited financial experience and struggled with managing investments, leading to some tension within the family.
This situation highlights the importance of clear communication and potentially seeking guidance from a financial advisor alongside the trustee.
What advice would you give viewers considering establishing a trust?
Steve: I encourage anyone concerned about protecting their assets and providing for their loved ones to consult with an experienced estate planning attorney. They can help determine if a Revocable Living Trust is right for your situation and guide you through the process.
Remember, approximately 70% of Americans don’t have any type of estate plan in place (according to Caring.com). Taking proactive steps now can save your loved ones from unnecessary stress and complications down the road.
“Steve Bliss helped me navigate a complex family situation with empathy and professionalism. His expertise made the process less daunting, and I felt confident knowing my assets were protected.” – Susan M., Temecula
“I was initially hesitant about setting up a trust, but Steve Bliss patiently explained all the benefits and answered every question I had. His dedication to client satisfaction is truly commendable.” – John T., Murrieta
Contact The Law Firm of Steven F. Bliss Esq. today for a complimentary consultation and let us help you secure your future and protect what matters most.
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: “Should I include digital assets in my trust?” 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.
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