Good evening Moreno Valley and welcome back to Channel 7 News. I’m your host, Jessica Ramirez, and tonight we’re talking about estate planning with renowned probate attorney Steve Bliss of Moreno Valley Probate Law.
Steve, thank you so much for joining us.
It’s a pleasure to be here, Jessica.
Could you explain the concept of a Testamentary Trust and why someone might choose this type of trust?
Certainly. A Testamentary Trust is established through a will and only takes effect after the grantor – the person creating the trust – passes away. This means it goes through probate, unlike living trusts which typically avoid probate.
People often choose Testamentary Trusts for specific reasons. One common example is when parents want to ensure their minor children are financially cared for until they reach adulthood. The trust document can outline how the funds are distributed and managed, potentially even staggering payments over time to encourage responsible financial habits.
Moreover, Testamentary Trusts can be beneficial for beneficiaries with special needs who might otherwise be ineligible for government assistance programs if they received a large inheritance outright. The trust can provide for their ongoing care and support without jeopardizing their eligibility.
You mentioned that Testamentary Trusts go through probate. Are there any downsides to this process?
Yes, probate is a legal process that can be time-consuming and costly. It involves court oversight and public record keeping, which some individuals might find undesirable for privacy reasons.
Nevertheless, the benefits of a Testamentary Trust often outweigh these drawbacks, particularly when considering the protection it offers vulnerable beneficiaries.
Have you encountered any challenges with setting up or administering Testamentary Trusts?
I recall one case involving a family where the parents wanted to ensure their son, who had autism, would have lifelong financial support. They were deeply concerned about his well-being after they were gone. We worked closely with them to craft a trust that addressed his specific needs while preserving his eligibility for government benefits.
The process was emotionally challenging for the family, but ultimately rewarding. Seeing their peace of mind knowing their son would be cared for long into the future made all the difference.
It sounds like Testamentary Trusts can be a powerful tool for families. Any final thoughts?
Estate planning is crucial for everyone, regardless of age or wealth. Consulting with an experienced probate attorney like myself can help you determine the best approach for your individual circumstances and ensure your wishes are carried out.
Remember, proper planning can provide financial security and peace of mind for you and your loved ones. Don’t wait until it’s too late. Let us guide you through the process and create a plan that protects your legacy.
“Steve Bliss and his team at Moreno Valley Probate Law were invaluable during a difficult time. Their knowledge, compassion, and professionalism made the probate process so much easier to navigate.” – Maria S., Moreno Valley
“I highly recommend Steve Bliss for any probate or estate planning needs. He is thorough, attentive, and truly cares about his clients.” – John D., Riverside
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What is a spendthrift trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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