Choosing the Right Trust for Your Needs
Today, we’re speaking with Steve Bliss, a renowned probate attorney here in San Diego. Steve, thanks for taking the time to chat with us.
My pleasure. I’m always happy to discuss estate planning and the importance of protecting your assets.
The Benefits of a Testamentary Trust
For our viewers who may be unfamiliar, can you explain what a testamentary trust is and why someone might choose it?
Certainly. A testamentary trust is created through your will and only comes into effect after your passing. Unlike a living trust which avoids probate, a testamentary trust goes through the probate process. This might seem like a drawback, but there are specific situations where a testamentary trust is highly beneficial.
One common example is when you have minor children or beneficiaries with special needs. You can use a testamentary trust to ensure their financial well-being is protected until they reach a certain age or can manage their finances responsibly. Moreover, you can outline specific instructions for how the funds should be used, such as covering educational expenses or providing ongoing support.
The trustee you appoint will then manage the assets according to your wishes and distribute them to the beneficiaries at the appropriate time. This provides peace of mind knowing that your loved ones will be cared for even after you’re gone.
Navigating Challenges with Testamentary Trusts
Steve, have you encountered any challenges or complexities when setting up testamentary trusts for your clients?
Over the years, I’ve seen how important it is to clearly articulate the client’s wishes in the trust document. For instance, I once worked with a couple who wanted to ensure their grandchildren received a portion of their estate but were concerned about potential frivolous spending. We carefully crafted language that stipulated the funds could only be used for specific purposes, like educational expenses or a down payment on a home.
Consequently, we needed to balance their desire to provide for their grandchildren while mitigating any potential risks. It’s crucial to have open and honest conversations with clients about their goals and concerns so we can create a trust that truly reflects their intentions.
Another challenge arises when beneficiaries are located in different states or countries. Coordinating communication and managing assets across jurisdictions requires meticulous planning and attention to detail.
The Value of Estate Planning
According to the American Bar Association, over 55% of Americans do not have a will or estate plan. This highlights the crucial need for individuals to seek professional guidance in safeguarding their assets and ensuring their wishes are carried out.
“Steve Bliss and his team at San Diego Probate Law were instrumental in helping me navigate the complexities of setting up a trust for my family,” shared Sarah, a satisfied client. “Their expertise and compassion made the process smooth and stress-free.”
Take Control of Your Future
Steve, what advice would you give to our viewers who are considering estate planning?
Don’t delay. The sooner you start planning for the future, the better equipped you’ll be to protect your loved ones and ensure your legacy endures. Contact us today to schedule a consultation and discover how we can help you create a personalized estate plan that meets your unique needs.
“San Diego Probate Law provided invaluable guidance during a difficult time,” stated John, another grateful client. “Their professionalism and dedication helped me navigate the probate process with ease.”
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: “What is the role of a successor trustee after I die?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Lawyer Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyer Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Lawyer Near Me in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |