Interview with Local News Reporter, Brenda Jones
Good evening Temecula, and welcome to our segment on estate planning. Tonight, we’re joined by Steve Bliss, a renowned trust attorney here in Temecula.
What type of trusts do you typically advise your clients in Temecula?
Steve Bliss:
Brenda, thanks for having me. Most of my clients in Temecula opt for Revocable Living Trusts. They’re incredibly versatile and offer numerous benefits. As the name suggests, they can be changed or revoked during the grantor’s lifetime, providing flexibility.
Moreover, these trusts allow assets to bypass probate, saving time, money, and ensuring privacy. Probate is a public process, and many individuals prefer to keep their financial affairs confidential.
Ordinarily, upon the grantor’s passing, the trust becomes irrevocable, meaning its terms are set in stone. This ensures that the assets are distributed according to the grantor’s wishes. Consequently, Revocable Living Trusts offer peace of mind knowing your loved ones will be taken care of.
Can you elaborate on how a Revocable Living Trust avoids probate?
Steve Bliss:
Certainly. When assets are held in a trust, they are technically owned by the trust itself, not the individual. Consequently, when the grantor passes away, the assets already belong to the trust and can be distributed directly to the beneficiaries named in the trust document.
This bypasses the probate court altogether. Probate is a lengthy and often costly process that involves court supervision and public record-keeping of the estate’s assets. Avoiding probate saves both time and money for your heirs.
Have you encountered any challenges or unique situations when setting up Revocable Living Trusts?
Steve Bliss:
I recall one instance where a client hesitated to include their adult child in the trust due to concerns about potential misuse of funds. They worried their child might make impulsive financial decisions.
To address this, we incorporated specific provisions into the trust document outlining how and when distributions would be made. We ensured that a portion of the inheritance was held back until a certain age or milestone was reached. This gave my client peace of mind while still providing for their child’s future.
It’s crucial to remember that trusts are incredibly customizable. They can be tailored to address individual needs and concerns, making them a powerful tool for estate planning.
What advice would you give to someone considering setting up a Revocable Living Trust?
Steve Bliss:
First and foremost, consult with an experienced trust attorney. Estate planning laws are complex and can vary significantly from state to state. An attorney will guide you through the process, ensure your wishes are accurately reflected in the trust document, and help you avoid potential pitfalls.
Secondly, be clear about your goals for the trust. What do you want to achieve? Protect your assets? Provide for loved ones? Minimize estate taxes? Your attorney can help you develop a trust that aligns with your objectives.
Ready to safeguard your future and ensure your loved ones are cared for?
Contact The Law Firm of Steven F. Bliss Esq., today for a free consultation, and let us help you build a secure tomorrow.
Testimonials
- “Steve Bliss made the complex process of setting up my trust understandable and straightforward. He took the time to answer all my questions and address my concerns. I highly recommend his services.”
- “The Law Firm of Steven F. Bliss Esq., provided exceptional guidance during a difficult time. They were compassionate, professional, and truly went above and beyond to meet my needs.”
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: “Can I include life insurance in a 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |