Hi everyone, I’m Tiffany Jones reporting live for Temecula News. Today we’re joined by Steve Bliss, a highly respected trust attorney here in Temecula. Steve, thanks for taking the time to chat with me today.
Why are Trusts Important?
Trusts are essential tools for estate planning because they offer numerous benefits that a simple will cannot provide. For example, trusts allow you to control how and when your assets are distributed after your death. They can also help minimize estate taxes and protect your assets from creditors.
What Type of Trust Do You Recommend Most Often?
As an experienced trust attorney, I recommend revocable living trusts to many of my clients. They’re incredibly versatile and offer significant advantages.
A revocable living trust allows you, the grantor, to retain control over your assets during your lifetime. You can amend or revoke the trust at any time if your circumstances change. Moreover, upon your passing, the trust assets bypass probate, saving your loved ones time, stress, and potentially significant legal fees. Probate can be a lengthy and public process, whereas assets held in a trust are distributed privately according to your wishes.
Could you elaborate on how a revocable living trust avoids probate?
Certainly! When you create a revocable living trust, you transfer ownership of your assets into the trust. You then name yourself as the trustee, meaning you maintain complete control over those assets during your lifetime. You can buy, sell, or manage assets within the trust just as you would if they were solely in your name.
Upon your death, the successor trustee you’ve named takes over. Because the assets are already held within the trust, they are not subject to probate court oversight. This allows for a smoother and more efficient transfer of assets to your beneficiaries, often saving them considerable time and expense.
Have You Encountered Any Challenges While Setting Up Revocable Living Trusts?
While revocable living trusts are generally straightforward to establish, there can be occasional complexities depending on individual circumstances. One common challenge is ensuring clients fully understand the implications of transferring assets into a trust.
I remember working with a couple who were hesitant to move their primary residence into the trust. They were concerned about losing control over their home. After patiently explaining the process and reassuring them that they would retain full use and enjoyment of their property while living, they ultimately felt comfortable making the transfer.
It’s crucial for me to build trust with my clients and ensure they have a clear understanding of all aspects of the trust before proceeding. I always prioritize open communication and address any concerns they may have.
What Advice Would You Give to Someone Considering Setting Up a Trust?
My advice is simple: consult with an experienced estate planning attorney who specializes in trusts. Creating a trust involves legal complexities that require expert guidance. A qualified attorney will help you determine the type of trust best suited for your needs, ensure it’s properly drafted and executed, and answer any questions you may have along the way.
Remember, a well-structured trust can be an invaluable asset in protecting your loved ones and securing your legacy. Don’t hesitate to seek professional advice to ensure your estate plan is tailored to your specific circumstances.
Call To Action
Discover the peace of mind that comes with knowing your future is secure. Contact The Law Firm of Steven F. Bliss Esq. today for a confidential consultation and let us guide you through the process of creating a trust that meets your unique needs.
“Steve Bliss helped me navigate a complex family situation with compassion and expertise. He was always available to answer my questions and made the entire process much less stressful.” – Sarah M., Temecula Resident
“I highly recommend Steve Bliss for all your estate planning needs. He is knowledgeable, professional, and 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 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 does a living trust work?” 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 |