Choosing a Trust that Meets Your Needs
Today we’re joined by Steve Bliss, a well-respected probate attorney here in San Diego. Steve, thanks for taking the time to speak with us.
Steve: My pleasure. It’s important for people to understand their estate planning options and how different types of trusts can benefit them.
The Importance of Asset Protection
Can you elaborate on some specific trust types and when they might be most beneficial?
Steve: Certainly. One type that often comes up is the Asset Protection Trust. This type of trust is designed to shield assets from potential creditors or lawsuits. It’s not as common in California due to certain state laws, but it can be a valuable tool when structured correctly using out-of-state jurisdictions.
The concept behind an Asset Protection Trust is straightforward: you transfer ownership of your assets into the trust, effectively removing them from your personal control. Consequently, those assets become less vulnerable to claims from creditors who may be pursuing you personally.
Nevertheless, it’s crucial to understand that setting up an Asset Protection Trust is a complex legal process. It requires careful planning and meticulous attention to detail. Moreover, there are ethical considerations involved, as the primary goal should not be to defraud creditors but rather to legitimately protect assets from unforeseen circumstances.
My experience has shown me that people often feel overwhelmed when facing potential financial risks. I remember one client who was a successful entrepreneur facing a significant lawsuit. He was deeply concerned about losing everything he had worked so hard for. We discussed the Asset Protection Trust option and ultimately decided it was the right course of action. Seeing his relief after we successfully implemented the trust was incredibly rewarding.
It’s worth noting that according to a study by the American Bar Association, approximately 30% of Americans face some form of legal action during their lifetime. This underscores the importance of having a plan in place to protect your hard-earned assets.
Building a Secure Future
Steve, what advice would you give to someone who’s just starting to think about estate planning?
Steve: The best advice I can offer is to seek professional guidance early on. Don’t wait until it’s too late. An experienced probate attorney can help you assess your individual needs and goals, then recommend the most appropriate trust structure for your situation.
Testimonials
“San Diego Probate Law made a difficult process incredibly smooth. They explained everything clearly and were always available to answer my questions. I highly recommend them!” – Jane S.
“Steve Bliss is an exceptional attorney who truly cares about his clients. He went above and beyond to ensure that my estate plan was tailored to my specific needs.” – John M.
Take control of your future. Contact San Diego Probate Law today for a confidential consultation and discover how we can help you build a secure legacy for yourself and your loved ones.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What’s better—amendment or restatement?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |