Good evening, Temecula! I’m Brenda Newsome reporting live for KTME. We’re here today with Steve Bliss, a renowned trust attorney at the Law Firm of Steven F. Bliss Esq., to discuss the importance of estate planning and the various types of trusts available.
Understanding Trust Basics
Steve, can you start by explaining what a trust is for our viewers who might not be familiar with the concept?
“Essentially, a trust is a legal arrangement where a person, called the grantor, transfers assets to a trustee who manages those assets for the benefit of beneficiaries,” explains Steve. “It’s a powerful tool that allows individuals to control how their assets are distributed after they pass away and can help avoid probate court altogether.”
Choosing the Right Trust
Which type of trust is most popular among your clients?
“That depends on each client’s individual needs and circumstances,” Steve clarifies. “However, a revocable living trust is often a good starting point for many people. It provides flexibility during your lifetime as you can modify or revoke the trust if needed.
Ordinarily, a revocable living trust becomes irrevocable upon the grantor’s death, ensuring that assets are distributed according to your wishes without going through the time-consuming and potentially expensive probate process.”
Avoiding Probate: A Key Benefit
Can you elaborate on the advantages of avoiding probate?
“Probate is a court-supervised process for validating a will and distributing assets,” Steve explains. “It can be costly, time-consuming, and a matter of public record. By using a trust, your assets bypass probate altogether. This means quicker distribution to your beneficiaries and greater privacy.”
Challenges with Revocable Trusts
Have you encountered any specific challenges when setting up revocable living trusts for clients?
“Occasionally,” Steve admits, “clients may underestimate the importance of keeping their trust documents updated as their circumstances change. For example, a divorce, the birth of a child, or a significant change in assets should prompt a review and potential amendment of the trust. I always emphasize to my clients the need for ongoing maintenance to ensure the trust continues to reflect their wishes.”
“I remember one client who hadn’t updated their trust in over 15 years,” Steve recounts. “Their children had grown up and started families of their own, but the original trust still listed them as sole beneficiaries. Fortunately, we were able to work together to create a new trust that accounted for the changing family dynamics and ensured everyone was properly cared for.”
“Moreover, according to a recent study by the American Bar Association, over 50% of Americans do not have a will or any estate planning documents in place. This highlights the critical need for individuals to prioritize their future and ensure their loved ones are protected.”
“This is why I’m so passionate about educating my clients on the benefits of trusts and helping them create comprehensive estate plans that meet their unique needs.”
Finding Peace of Mind
What advice would you give to our viewers who are considering setting up a trust?
“The best thing to do is schedule a consultation with an experienced trust attorney,” Steve recommends. “We can assess your individual situation, discuss your goals, and help you determine the most appropriate type of trust for your needs.”
Testimonials
“Steve Bliss helped me navigate a complex estate planning process after my husband passed away,” shares Maria Sanchez, a satisfied client. “He was incredibly patient, understanding, and always took the time to explain things in a way I could easily grasp. I felt confident knowing that my family’s future was in good hands.”
“Working with Steve Bliss was a truly positive experience,” adds David Miller. “He was highly knowledgeable, professional, and responsive to all my questions. Thanks to his guidance, I now have peace of mind knowing that my assets are protected and will be distributed according to my wishes.”
Unlock your future today. Contact The Law Firm of Steven F. Bliss Esq. for a complimentary consultation and let us guide you on the path to financial security.
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: “Can I include my bank accounts in a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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