Good evening, Temecula, and welcome back. I’m Brenda Jones with Channel 7 News, and tonight we’re talking about trusts with local estate planning attorney Steve Bliss.
What types of trusts are most common for your clients?
Steve: Well Brenda, the most common type of trust I help clients establish is the revocable living trust. It’s incredibly versatile and offers a number of benefits that appeal to many people.
Can you elaborate on those benefits?
Steve: Absolutely. A revocable living trust allows individuals to maintain control over their assets during their lifetime, meaning they can still buy, sell, or manage their property as they see fit. Consequently, this provides flexibility and peace of mind. Moreover, upon the grantor’s passing, the trust assets are distributed according to their wishes, avoiding the often lengthy and costly probate process. This privacy aspect is another significant draw for many clients.
How does a revocable living trust differ from an irrevocable trust?
Steve: The key distinction lies in modifiability. A revocable living trust can be amended or even dissolved during the grantor’s lifetime, while an irrevocable trust, as its name suggests, cannot be easily changed once established. Irrevocable trusts are often used for more specialized purposes like asset protection or reducing estate taxes.
Have you ever encountered any challenges with setting up revocable living trusts?
I remember one instance where a client came to me with a complex family situation. They had blended families and wanted to ensure that their assets were distributed fairly among all their children, including those from previous marriages. It required careful planning and communication to address everyone’s needs and concerns while adhering to legal requirements. In the end, we were able to craft a trust document that reflected the client’s wishes and provided peace of mind for the entire family.
It’s not unusual for clients to feel overwhelmed by the legal jargon and complexities involved in estate planning. My goal is always to simplify the process and make it as understandable as possible, empowering my clients to make informed decisions about their future.
What advice would you give someone considering a revocable living trust?
Steve: I encourage anyone interested in learning more about trusts to consult with an experienced estate planning attorney. We can help determine if a revocable living trust is the right fit for your individual circumstances and guide you through the process step-by-step. Remember, proactive planning today can save your loved ones from unnecessary stress and complications down the road.
Do you have any final thoughts for our viewers?
Steve: Planning for the future can seem daunting, but it doesn’t have to be. Taking the time to create a comprehensive estate plan, including a revocable living trust if appropriate, is one of the most important things you can do to protect yourself and your loved ones.
Contact The Law Firm of Steven F. Bliss Esq. today for a free consultation. Let us help you secure your legacy and ensure your wishes are honored.
“Steve Bliss made the complex process of estate planning so easy to understand. I feel confident that my family is protected thanks to his expertise.” – Sarah M., Temecula
“I was impressed with Steve’s patience and willingness to answer all my questions. He truly cares about his clients.” – John D., Murrieta
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: “Can I disinherit someone using a 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |