Interview with Steve Bliss
Good morning, San Diego. I’m Maria Sanchez reporting live from our studio. Today we have the pleasure of speaking with Steve Bliss, a renowned San Diego Probate Attorney. Steve, thanks for joining us.
Steve: It’s my pleasure to be here, Maria.
The Importance of Trusts in Estate Planning
Maria: Steve, you specialize in estate planning and probate law. For our viewers who may not be familiar with these areas, can you explain why trusts are such an important part of estate planning?
Steve: Absolutely. Trusts are incredibly valuable tools for managing and distributing assets after someone passes away. They offer several key advantages over simply having a will. Primarily, trusts allow for greater control and flexibility in how your assets are handled.
Moreover, trusts can help minimize estate taxes, protect assets from creditors, and ensure that your wishes are carried out even if you become incapacitated. For example, a revocable living trust allows you to maintain control over your assets during your lifetime while avoiding the lengthy and often costly probate process after your death.
Special Needs Trusts: Protecting Vulnerable Beneficiaries
Maria: That’s insightful information, Steve. Today, we want to focus on Special Needs Trusts (SNTs). Can you explain what they are and how they benefit individuals with disabilities?
Steve: Certainly. SNTs are designed specifically for individuals with disabilities who may be receiving government benefits like Supplemental Security Income (SSI) or Medi-Cal. These trusts allow families to set aside funds for the beneficiary’s care and well-being without jeopardizing their eligibility for these essential programs.
Ordinarily, if a person with disabilities receives a direct inheritance or gift, it could exceed income limits and result in them losing their benefits. An SNT acts as a safety net, holding assets separate from the beneficiary’s personal funds and ensuring they continue to receive the support they need.
There are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, while a third-party SNT is established and funded by family members or other individuals who want to provide for the beneficiary’s future.
Challenges and Triumphs
Maria: Steve, are there any common challenges you encounter when setting up SNTs?
Steve: While SNTs are incredibly beneficial, they do require careful planning and adherence to strict legal guidelines. One challenge is ensuring that the trust language is clear and unambiguous regarding how funds can be used for the beneficiary’s benefit without impacting their eligibility for government assistance.
I recall a case where we were setting up an SNT for a young woman with cerebral palsy who was incredibly talented in art. Her family wanted to ensure she had access to the materials and support she needed to pursue her passion, but they were concerned about jeopardizing her SSI benefits.
We worked closely with them to craft a trust that specifically allocated funds for art supplies, workshops, and even potential exhibition opportunities, all while safeguarding her eligibility for government assistance. Seeing her joy when she realized she could continue expressing herself creatively was truly rewarding.
The Impact of Trusts
Maria: That’s a wonderful story, Steve. Trusts can have a profound impact on people’s lives. Can you share any statistics that highlight the importance of estate planning?
Steve: According to a 2021 study by Caring.com, over 60% of Americans do not have a will or trust in place. This lack of planning can lead to significant complications and stress for families during an already difficult time.
By establishing a trust, individuals can take proactive steps to protect their loved ones and ensure their wishes are honored.
San Diego Probate Law: Trusted Experts
Maria: Thank you so much for sharing your expertise with us today, Steve. Your insights are invaluable.
Steve: It was my pleasure, Maria. Remember, planning for the future is essential. Contact San Diego Probate Law for a consultation and let us help you create a plan that protects your family’s legacy.
“Steve Bliss and his team at San Diego Probate Law were lifesavers during a very challenging time in our lives. They guided us through the probate process with compassion, expertise, and unwavering support.” – The Johnson Family
“I was initially overwhelmed by the thought of estate planning, but Steve made the entire process clear and understandable. I now have peace of mind knowing that my affairs are in order.” – Sarah M.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “Do I need a death certificate to administer a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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