Good evening, Moreno Valley, and welcome back. I’m Tiffany Jones with Channel 7 News, here tonight with local probate attorney Steve Bliss of Moreno Valley Probate Law. Steve, thank you for joining me.
Understanding Testamentary Trusts
Steve, can you explain to our viewers what a testamentary trust is and how it works?
Certainly, Tiffany. A testamentary trust is a legal arrangement that goes into effect upon the grantor’s death, unlike a living trust which takes effect during the grantor’s lifetime. Testamentary trusts are created through a will and are an excellent tool for managing assets after someone passes away. Ordinarily, the assets designated for the trust are transferred to it as part of the probate process.
These trusts can be especially helpful when beneficiaries are minors or have special needs. For example, a parent might want to ensure their child receives financial support throughout their life without the risk of mismanagement or losing eligibility for government benefits. Consequently, a testamentary trust allows the parent to dictate how and when these funds are distributed, providing long-term security.
Addressing Potential Concerns
Tiffany, what are some potential concerns people might have about using testamentary trusts?
One common concern is that testamentary trusts go through probate. This means the process can be slightly longer and more involved than setting up a living trust, which avoids probate altogether. Nevertheless, for many people, the benefits of a testamentary trust outweigh this drawback.
I remember one client who was worried about his son inheriting a large sum of money at a young age. He feared his son might make impulsive decisions and squander the inheritance. A testamentary trust allowed him to ensure the funds were used responsibly, providing for his son’s education and living expenses without giving him direct access to the entire amount.
According to the American Bar Association, approximately 70% of Americans do not have a will or estate plan in place. This highlights the importance of seeking legal guidance and exploring options like testamentary trusts to protect your loved ones and ensure your wishes are carried out.
Moreno Valley Probate Law: Trusted Legal Guidance
“Steve Bliss helped me navigate a complex probate case with compassion and expertise. He made a difficult time more manageable.” – Mary S., Moreno Valley
“I highly recommend Moreno Valley Probate Law for their professionalism and dedication to client service. They explained everything clearly and ensured my estate plan met my needs.” – John D., Riverside
Steve, where can viewers go to learn more about testamentary trusts and other estate planning options?
Tiffany, anyone interested in exploring these topics further can visit our website at www.morenovalleyprobate.com or call us for a free consultation.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What is a living trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Estate Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Estate Attorneys Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Estate Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Estate Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Estate Attorneys Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Estate Attorneys in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |