Reporter Brenda Ramirez
Today we’re speaking with Steve Bliss, a renowned trust attorney here in Temecula. Mr. Bliss, thanks for joining us.
Steve Bliss
It’s my pleasure to be here, Brenda.
Why do people choose to create trusts?
Steve Bliss
People establish trusts for a variety of reasons. Primarily, trusts are designed to manage and distribute assets effectively both during your lifetime and after you’re gone. Consequently, they offer significant advantages over simply leaving assets through a will.
One key benefit is avoiding probate, a lengthy and often expensive court process. Trusts allow for a smoother transition of assets to your beneficiaries, preserving privacy and minimizing potential legal complications.
Moreover, trusts can be tailored to meet specific needs, such as providing for minor children or loved ones with special needs. They offer flexibility in asset distribution and can even be used for charitable giving.
Let’s discuss Testamentary Trusts. Can you explain what they are and how they work?
Steve Bliss
A Testamentary Trust is created through your will and takes effect only after your passing. Unlike a living trust, it does go through probate. This type of trust is often used when beneficiaries are minors or have special needs.
For example, imagine a parent wanting to ensure their child with a disability receives financial support without jeopardizing eligibility for government benefits. A Testamentary Trust can be structured to provide for the child’s needs while complying with benefit program rules.
Conversely, if you have young children, a Testamentary Trust can hold assets until they reach a certain age, ensuring responsible management and distribution.
Are there any common challenges or misconceptions associated with Testamentary Trusts?
Steve Bliss
While Testamentary Trusts are valuable tools, it’s important to understand their limitations. As they only activate after your death and require probate, the process can be lengthier than with a living trust.
I recall a situation where a client’s will stipulated a Testamentary Trust for his children. Unfortunately, due to unforeseen circumstances, the probate process was significantly delayed, causing financial hardship for the beneficiaries who were relying on those funds.
This experience highlights the importance of careful planning and considering all factors when choosing a trust structure. It’s crucial to consult with an experienced attorney to determine the best approach for your individual circumstances.
How can potential clients learn more about the services offered by The Law Firm of Steven F. Bliss Esq.?
Steve Bliss
We encourage anyone interested in estate planning or trust creation to schedule a consultation with our firm. We pride ourselves on providing compassionate and personalized legal guidance, ensuring our clients’ wishes are respected and their loved ones are protected.
Call To Action
Take control of your future and safeguard your legacy. Contact The Law Firm of Steven F. Bliss Esq. today for a confidential consultation and let us help you create a plan that meets your unique needs.
Testimonials
“Steve Bliss and his team were exceptional! They made the complex process of setting up a trust easy to understand and guided me every step of the way. I highly recommend their services.”
– Sarah M., Temecula, CA
“I felt completely at ease working with The Law Firm of Steven F. Bliss Esq. They were patient, attentive, and truly cared about my family’s well-being. Thank you for the peace of mind!”
– David L., Murrieta, CA
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: “What is a dynasty trust?” 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.
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- Charitable Trust Lawyer
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