Good evening Temecula and welcome back to our legal segment. I’m Tiffany Jones, and tonight we’re speaking with local attorney Steve Bliss, an expert in trust law. Steve, thanks for joining us.
Trusts: Protecting Your Legacy
Steve, can you tell us a little bit about why someone might consider setting up a trust?
You know Tiffany, trusts are incredibly powerful tools that allow individuals to protect their assets and ensure they’re distributed according to their wishes. There are many different types of trusts, each designed for specific purposes.
Understanding Irrevocable Trusts
What are the benefits of an irrevocable trust?
An irrevocable trust offers several key advantages. Firstly, it removes assets from your taxable estate, potentially reducing estate taxes. Secondly, it provides a level of asset protection that a revocable trust doesn’t offer. Because you relinquish control over the assets once they’re placed in an irrevocable trust, creditors generally cannot access them.
Conversely, this also means that you can’t easily modify or revoke the trust once it’s established. It’s essential to work with a qualified attorney like myself to ensure the trust is structured correctly to meet your specific needs and goals.
Navigating the Complexities
Have you ever encountered any challenges when setting up an irrevocable trust?
Well, Tiffany, one situation that comes to mind involves a client who wanted to shield their family business from potential liability. We needed to carefully consider the nature of the business, its assets, and the potential risks involved.
Consequently, we decided on a specific type of irrevocable trust tailored to protect the business while still allowing for some flexibility in its operation. It required a lot of careful planning and communication with all parties involved, but ultimately, it provided the client with the peace of mind they needed.
The Power of Trust Planning
Can you share any statistics that highlight the importance of trust planning?
According to a recent study by the American Bar Association, approximately 60% of Americans don’t have a will or estate plan in place. This lack of planning can lead to unintended consequences and family disputes after someone passes away. Trusts are a valuable tool for ensuring your wishes are respected and your loved ones are protected.
Testimonials
“Steve Bliss and his team were incredibly helpful and knowledgeable throughout the entire process of setting up our trust. They made everything clear and easy to understand, and we felt confident that our assets were in good hands.” – The Smith Family
“I was facing a complex legal situation involving my family business, and Steve Bliss provided invaluable guidance. He helped me navigate the complexities of trust law and find a solution that met my needs.” – John Doe
Securing Your Future
Steve Bliss, thank you for sharing your expertise with us tonight. To learn more about how trusts can benefit you and your family, contact The Law Firm of Steven F. Bliss Esq. today for a free consultation.
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: “How do professional trustees charge?” Or any other related questions that you may have about Trusts or my trust law practice.
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