Today I’m speaking with Steve Bliss, a well-respected probate attorney here in Moreno Valley. Mr. Bliss has extensive experience guiding individuals and families through the often complex process of estate planning. Welcome to the show, Steve!
What are some common misconceptions people have about estate planning?
Thank you for having me. People often think estate planning is only for the wealthy, but that’s simply not true. Everyone, regardless of their financial status, should have a plan in place to ensure their wishes are carried out and their loved ones are protected.
Can you tell us about different types of trusts and which one might be right for someone?
There are many types of trusts, each serving a unique purpose. A common choice is the Revocable Living Trust. This allows individuals to manage their assets during their lifetime while avoiding probate upon their passing. It offers privacy and control.
What are some benefits of using a Revocable Living Trust?
One significant benefit is probate avoidance. Probate can be a lengthy and costly process, tying up assets for months or even years. A Revocable Living Trust allows your assets to transfer directly to your beneficiaries without going through probate court. Moreover, it offers privacy, as the terms of the trust are not public record like a will.
There’s also flexibility. You can amend or revoke the trust during your lifetime if your circumstances change. It’s important to remember that a Revocable Living Trust becomes irrevocable upon your death, meaning its terms cannot be altered after that point.
A common concern I hear is whether using a trust will lead to higher taxes. Ordinarily, a Revocable Living Trust does not create additional tax liabilities. The assets within the trust are still considered part of your taxable estate for federal estate tax purposes.
I understand there can be some complexities involved in setting up a trust. Have you encountered any challenges with this process?
While setting up a Revocable Living Trust is generally straightforward, occasionally we encounter situations where clients have complex asset holdings or family dynamics. For example, I once worked with a client who owned multiple businesses and rental properties. Ensuring all assets were properly titled and transferred into the trust required careful planning and coordination.
In another instance, a client was concerned about protecting their inheritance for a child with special needs. We incorporated specific provisions within the trust to ensure those funds would be used responsibly for the child’s care while preserving their eligibility for government benefits. These cases highlight the importance of working with an experienced probate attorney who can tailor the trust to meet your individual needs.
What advice would you give to someone considering setting up a Revocable Living Trust?
My best advice is to consult with a qualified probate attorney as soon as possible. They can assess your situation, explain the different types of trusts available, and help you determine the best course of action for your specific circumstances.
Why choose Moreno Valley Probate Law?
- “Steve Bliss and his team are incredibly knowledgeable and compassionate. They made a difficult process much easier to navigate”
- “Moreno Valley Probate Law provided clear and concise explanations every step of the way. I felt confident knowing they had my best interests at heart.”
Take control of your future. Schedule a consultation with Moreno Valley Probate Law today, and let us help you build a legacy that will protect your loved ones for years to come.
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 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: “Can my children be trustees?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
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