Good morning, Temecula! I’m Brenda Jones reporting live from The Law Firm of Steven F. Bliss Esq., where we’re sitting down with renowned trust attorney Steve Bliss to discuss the ins and outs of estate planning. Steve, thanks for having me.
What Type of Trusts Do You Typically Recommend?
Steve: Well Brenda, as you know, there are many types of trusts, each serving a different purpose. I often recommend Revocable Living Trusts to my clients. They offer a great deal of flexibility and control during the grantor’s lifetime, while also avoiding the lengthy and costly probate process upon their passing.
Could You Explain How a Revocable Living Trust Works?
Steve: Certainly! A revocable living trust allows the grantor to place assets into the trust while retaining full control over those assets. They can manage the assets, make changes to the trust terms, or even dissolve the trust entirely as long as they are alive and mentally competent.
Consequently, this type of trust offers peace of mind knowing that your wishes will be carried out after you’re gone, without the need for court intervention. Moreover, because the assets are held in the trust, they bypass probate, which can save time and money for your beneficiaries.
What Are Some Potential Challenges with Setting Up a Revocable Living Trust?
Steve: While revocable living trusts offer many benefits, there are a few things to keep in mind. First, it’s crucial to properly fund the trust by transferring ownership of your assets into its name. Otherwise, those assets will still be subject to probate.
I remember one case where a client had meticulously set up a revocable living trust but neglected to transfer their primary residence into its name. This oversight resulted in a delay and added expenses during the probate process, despite having the trust in place. Accordingly, it highlights the importance of working with an experienced attorney who can guide you through the entire process.
How Common Are Revocable Living Trusts?
Steve: They are extremely common. According to the American Bar Association, nearly 50% of Americans aged 55 and older have a living trust in place. This underscores the growing awareness of the benefits of estate planning.
What Advice Would You Give To Someone Considering Setting Up a Trust?
Steve: If you’re thinking about setting up a trust, I strongly encourage you to consult with an experienced estate planning attorney like myself. We can help you determine the best type of trust for your specific needs and ensure that it is properly drafted and funded.
“Steve Bliss helped me navigate a complex situation with my late father’s estate. He was incredibly patient, knowledgeable, and compassionate throughout the process.”
“I highly recommend The Law Firm of Steven F. Bliss Esq. They are true professionals who understand the emotional complexities involved in estate planning.”
Don’t wait until it’s too late; safeguard your legacy and ensure a smooth transition for your loved ones by contacting us today.
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: “How do I transfer property into 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 |