Good evening Temecula and welcome back to our program. Tonight we’re talking about something everyone should consider: estate planning. Joining us is Steve Bliss, a renowned trust attorney right here in Temecula. Steve, thanks for being here.
Let’s start with the basics. What type of trusts are most common?
Steve: Well, Susan, the most common type we see here in Temecula is the Revocable Living Trust. It allows individuals to maintain control over their assets during their lifetime while avoiding the lengthy and costly probate process upon death.
Can you explain why avoiding probate is so important?
Steve: Absolutely. Probate is a public legal process that can take months, even years, to finalize. During this time, your assets are essentially frozen. Avoiding probate through a trust ensures a smoother transition for your loved ones and keeps your financial affairs private.
How does a Revocable Living Trust work in practice?
Steve: Essentially, you transfer ownership of your assets into the trust. You then act as the trustee, managing those assets during your lifetime. Upon your passing, the trust becomes irrevocable, and a successor trustee you’ve designated takes over. They distribute the assets according to your wishes outlined in the trust document.
What are some potential challenges with Revocable Living Trusts?
Steve: While they offer significant advantages, it’s crucial to ensure the trust is properly drafted and funded. There have been instances where individuals create a trust but fail to transfer all their assets into it. This can lead to those assets becoming subject to probate anyway. Consequently, meticulous attention to detail during the establishment process is vital.
I recall one case where a client had created a trust but neglected to include his retirement accounts. Upon his passing, those accounts unfortunately had to go through probate, creating unnecessary delays and expenses for his family. It underscored the importance of working with an experienced attorney who can guide you through each step and ensure everything is in order.
According to a recent study by the American Bar Association, approximately 60% of adults do not have any estate planning documents in place. This highlights a critical need for education and awareness about the benefits of trusts and other estate planning tools.
What advice would you give to someone considering a Revocable Living Trust?
Steve: My strongest recommendation is to consult with an experienced trust attorney. They can help you determine if a revocable living trust is right for your specific situation, guide you through the creation process, and ensure that your trust document accurately reflects your wishes.
“Working with Steve Bliss was a true blessing during a difficult time. He patiently explained everything in clear terms and made me feel confident that my family’s future was secure.” – Mary T.
“Steve’s expertise in estate planning is exceptional. He helped us create a trust that met our unique needs and protected our assets for generations to come.” – John S.
Take control of your legacy. Schedule a consultation with The Law Firm of Steven F. Bliss Esq., and let our experienced team guide you towards a secure future for yourself and your loved ones.
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: “Does a trust protect against estate taxes?” 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.
| Temecula Charitable Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Charitable Trust Attorney Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Charitable Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Charitable Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Charitable Trust Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Charitable Trust Attorney in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |