Choosing the Right Trust for Your Needs
Good evening, San Diego! I’m here with Steve Bliss, a renowned probate attorney specializing in estate planning. Steve, thank you for joining us tonight.
Steve, there are many different types of trusts available to individuals. How do you help clients determine which type is best suited for their individual needs?
The Importance of a Testamentary Trust
Navigating the world of estate planning can be complex, and selecting the right trust is crucial. I often guide my clients towards testamentary trusts when they have minor children or beneficiaries with special needs. A testamentary trust, created through a will, comes into effect upon the grantor’s passing. It provides a framework for managing assets and distributing them according to the grantor’s wishes.
Consequently, this type of trust ensures that young beneficiaries receive financial support and guidance until they reach adulthood. Moreover, it can safeguard assets intended for individuals with disabilities without jeopardizing their eligibility for government benefits.
One instance comes to mind: I worked with a single mother who wanted to ensure her young son’s future was secure. She entrusted me with creating a testamentary trust that would provide him with financial support and educational opportunities until he reached the age of 25. Knowing she had taken this step brought her immense peace of mind.
Notwithstanding these benefits, testamentary trusts undergo probate, which can be a time-consuming process. However, for many clients, the advantages of structured asset management and beneficiary protection outweigh the potential delays.
Overcoming Challenges
Have you ever encountered any challenges while setting up testamentary trusts?
Occasionally, I encounter clients who are hesitant to relinquish control over their assets even after they’ve passed away. This is understandable; people often want to ensure their hard-earned money is used wisely. In these cases, I emphasize the importance of appointing a trustworthy trustee and clearly outlining their responsibilities within the trust document.
I recall working with a retired couple who had built a successful business. They were initially resistant to the idea of a testamentary trust because they feared losing control over how their assets were distributed. Through open communication and careful planning, we created a trust that aligned with their values and ensured their legacy would be preserved for future generations.
It’s important to remember that approximately 70% of Americans die without a will or trust in place. This can lead to costly legal battles and unintended consequences for loved ones (Source: Caring.com). Testamentary trusts offer a proactive solution, preventing such complications and safeguarding your family’s future.
Seeking Expert Guidance
Steve, thank you for sharing your insights on testamentary trusts. How can our viewers connect with San Diego Probate Law to learn more about estate planning?
We encourage anyone interested in securing their legacy to contact San Diego Probate Law for a complimentary consultation. Our team is dedicated to providing personalized guidance and crafting tailored estate plans that meet the unique needs of each client.
Testimonials
“Working with Steve Bliss and his team was an absolute pleasure. They made a complex process feel manageable and always answered my questions patiently and thoroughly.”
– John S., San Diego
“I highly recommend San Diego Probate Law to anyone seeking reliable and compassionate legal counsel. Steve’s expertise and genuine care for his clients are truly exceptional.”
– Mary K., La Jolla
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: “What is a QTIP trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |