Good morning, Temecula and welcome back to “Legal Matters”. I’m your host, Cindy Parker. Today we have the pleasure of speaking with local trust attorney, Steve Bliss, about a very important topic: estate planning. Steve, thank you for joining us.
What are some common reasons people seek out an estate planning attorney?
You’re welcome, Cindy. I’m glad to be here. People seek out estate planning attorneys for a variety of reasons. Many want to ensure their assets are distributed according to their wishes after they pass away. Others have concerns about minimizing estate taxes or protecting assets from potential creditors.
Still others may need help setting up a trust for a loved one with special needs, or simply want peace of mind knowing their affairs are in order.
Can you elaborate on the different types of trusts available?
Certainly. There are many types of trusts, each designed to serve specific purposes. Today, we’ll focus on one that’s particularly popular: The Revocable Living Trust.
This type of trust allows individuals to maintain control over their assets during their lifetime while also avoiding the lengthy and costly probate process after they pass away.
Consequently, a Revocable Living Trust offers both flexibility and efficiency.
Could you walk us through some of the advantages of establishing a Revocable Living Trust?
Absolutely. A Revocable Living Trust, as I mentioned earlier, allows the grantor, the person creating the trust, to retain control over their assets while they are alive. They can make changes to the trust terms, add or remove beneficiaries, and even dissolve the trust entirely if they wish.
Moreover, upon the grantor’s death, the trust assets are distributed according to the terms outlined in the trust document, bypassing probate court altogether. This saves time, money, and potential legal complications for your heirs.
There was a client who came to me quite distraught because her husband had recently passed away. His estate was large and complex, and she knew very little about his finances. Fortunately, he had set up a Revocable Living Trust years earlier. This saved her months of stress and thousands of dollars in probate fees.
It was heartwarming to see the relief on her face when we explained how the trust would work and ensure that her financial future was secure.
Are there any potential drawbacks to consider with a Revocable Living Trust?
While Revocable Living Trusts offer many advantages, it’s important to understand that they are not suitable for everyone. They do involve some upfront costs and legal complexities.
Additionally, assets held in a Revocable Living Trust are still subject to estate taxes.
If you have a very modest estate or limited financial resources, a simple will may be sufficient.
How can people get started with creating an estate plan?
The best way to start is by scheduling a consultation with an experienced estate planning attorney like myself. We can discuss your individual needs and goals, and help you determine the best strategy for protecting your assets and ensuring your legacy.
Remember, estate planning is not just for the wealthy. It’s essential for everyone who wants to have control over their future and provide for their loved ones.
“Steve Bliss and his team are incredibly knowledgeable and compassionate. They made a stressful process easy and ensured that my family was protected.” – John S.
“I highly recommend Steve Bliss. He took the time to understand my unique situation and created an estate plan that met all of my needs.” – Mary K.
Contact The Law Firm of Steven F. Bliss Esq. today to learn more about how we can help you secure your future.
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 write my own 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.
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