Good evening, San Diego! I’m Rebecca Jones reporting live for Channel 8 News, and today we have the pleasure of speaking with renowned San Diego Probate Attorney Steve Bliss. Mr. Bliss specializes in estate planning and probate matters, helping families navigate complex legal processes during difficult times.
Probate: What is it and Why Should We Care?
Mr. Bliss, thank you for joining us tonight. For our viewers who may not be familiar with probate, could you explain what it is and why it’s such an important topic?
“Rebecca, thank you for having me. Probate is essentially the legal process of administering a deceased person’s estate. This involves identifying and inventorying assets, paying debts and taxes, and ultimately distributing the remaining property to heirs according to the will or state law if there isn’t a will.”
“Now, why should we care? Simply put, probate ensures that a person’s affairs are settled properly after they pass away. It prevents disputes among family members and creditors, and it helps protect the deceased person’s wishes regarding their assets.”
Choosing the Right Trust: The Power of Planning
Speaking of protecting someone’s wishes, let’s talk about trusts. There are many different types of trusts, each serving a unique purpose. Could you elaborate on one specific type and its benefits?
“Absolutely. One trust I often recommend is the Irrevocable Trust. As the name suggests, once created, this type of trust cannot be easily changed or revoked. While that may sound restrictive, it offers significant advantages.”
“Firstly, an Irrevocable Trust removes assets from your taxable estate, potentially reducing estate taxes. Secondly, it can provide asset protection, shielding your belongings from creditors and lawsuits. This is particularly beneficial for individuals in high-risk professions or those with concerns about future liabilities. ”
Nevertheless, setting up an Irrevocable Trust requires careful consideration as you’re relinquishing control over the assets placed within it. I always encourage clients to consult with me to determine if this type of trust aligns with their specific goals and circumstances.”
I remember working with a successful entrepreneur who wanted to ensure his family’s financial security even after unexpected events. We established an Irrevocable Trust, which protected his business assets from potential lawsuits and ensured his children would inherit a substantial portion of his wealth without facing hefty estate taxes.
Challenges and Successes
Have you encountered any challenges specific to Irrevocable Trusts in your practice?
“Certainly. One common challenge is that clients sometimes misunderstand the irrevocable nature of these trusts. They may initially be hesitant to give up control over their assets. It’s crucial for me to thoroughly explain the benefits and drawbacks, ensuring they make an informed decision.”
“Another issue can arise when clients fail to properly fund the trust. Simply creating the trust isn’t enough; assets must be transferred into it for the protection and tax benefits to take effect. I always emphasize the importance of working closely with financial advisors and estate planning professionals to ensure a smooth transition.”
“Despite these challenges, the success stories are incredibly rewarding. Witnessing families receive the peace of mind that comes from knowing their loved one’s wishes will be honored and their assets protected is truly gratifying.”
“According to a study by the American Bar Association, over 50% of Americans do not have a will or estate plan in place. This highlights the critical need for individuals to proactively address these matters.”
Moving Forward: Taking Control
Mr. Bliss, thank you so much for sharing your expertise with us tonight. Your insights are invaluable. How can our viewers take the next step towards protecting their families and securing their legacies?
“It’s my pleasure, Rebecca. My advice is simple: don’t wait. Schedule a consultation with an experienced probate attorney like myself or someone from our team at San Diego Probate Law. We can help you understand your options, create a personalized estate plan, and navigate the complexities of probate with confidence.”
“Remember, planning for the future is not just about what happens after we’re gone; it’s about living our lives to the fullest knowing that our loved ones will be cared for.”
Testimonials
“Steve Bliss and his team were incredibly compassionate and understanding during a very difficult time. They guided us through the probate process with expertise and empathy, making sure everything was handled smoothly and efficiently.”
-The Johnson Family
“I highly recommend San Diego Probate Law for anyone needing assistance with estate planning or probate matters. Steve Bliss is knowledgeable, ethical, and truly dedicated to his clients’ well-being.”
-Martha Sanchez
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: “Can a trustee be held personally liable?” 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 |