Good afternoon, Temecula and welcome back to our legal spotlight series! I’m Brenda Lawson, bringing you crucial insights on estate planning right here in our community. Today, we have the privilege of speaking with renowned Temecula Trust Attorney, Steve Bliss, about a powerful tool for protecting your loved ones – Testamentary Trusts.
What Exactly is a Testamentary Trust?
Steve, can you explain to our viewers what a testamentary trust is and how it differs from other types of trusts?
“A testamentary trust is essentially a trust that comes into existence only after your passing,” Steve explains. “It’s created through your will and takes effect during the probate process. This sets it apart from living trusts, which are established while you’re alive.
Benefits of Testamentary Trusts
“One major advantage of a testamentary trust is its ability to provide for minor children or beneficiaries who may not be financially responsible,” Steve elaborates. “You can specify how and when assets are distributed, ensuring they receive the support they need without having direct control over large sums of money.”
Addressing Concerns
“Some people worry about the probate process involved with a testamentary trust,” acknowledges Steve. “It’s true that probate can take time, but it’s often necessary for validating your will and ensuring proper asset distribution. Moreover, working with an experienced attorney like myself can streamline the process significantly.”
“I remember one instance where a client wanted to ensure her grandson, who struggled with addiction, received his inheritance responsibly,” Steve shares. “We established a testamentary trust that provided for his education and living expenses, while also stipulating that he couldn’t access a lump sum until he reached a certain age and demonstrated financial stability.”
“According to the American Bar Association, nearly 60% of adults don’t have a will. This means their assets are subject to state intestacy laws, which may not align with their wishes,” Steve notes. “By establishing a testamentary trust through your will, you maintain control over how your legacy is distributed and protect your loved ones.”
A Path Forward
Steve, what advice would you give to someone considering a testamentary trust?
“My advice is simple: consult with an experienced estate planning attorney,” Steve emphasizes. “We can help you understand the complexities of testamentary trusts and determine if they’re the right fit for your circumstances. We’ll work closely with you to craft a plan that meets your unique needs and protects the future of your loved ones.”
“Contact The Law Firm of Steven F. Bliss Esq. today for a personalized consultation.”
Testimonials
“Working with Steve Bliss was truly a blessing. He made a complex process easy to understand and ensured my family’s financial security. I highly recommend him!” – Susan M.
“Steve is incredibly knowledgeable and compassionate. He took the time to listen to my concerns and develop a plan that gave me peace of mind. I wouldn’t trust anyone else with my estate planning needs.” – John P.
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: “Is a trust public record?” 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 |