Understanding Trusts for Estate Planning
Welcome back to the show. Today we’re talking about trusts and estate planning with local attorney Steve Bliss of Escondido Probate Law. Steve, thanks for joining us.
What are Some Common Types of Trusts?
There are many types of trusts, each designed for specific purposes. Can you tell us about a few common ones?
Steve Discusses Revocable Living Trusts
One of the most common types is the revocable living trust. This allows individuals to manage their assets during their lifetime while avoiding probate upon their death. Probate can be a lengthy and costly process, so many people prefer the privacy and efficiency that a living trust offers. Consequently, it’s a great tool for ensuring your wishes are carried out smoothly.
With a revocable living trust, you retain control over your assets and can make changes as needed throughout your life. Moreover, the assets in the trust are not subject to probate when you pass away, which can save your heirs time and money.
Nevertheless, it’s crucial to work with an experienced attorney to ensure your trust is properly structured and meets your specific needs.
Challenges with Revocable Living Trusts
Have you ever encountered any challenges when setting up revocable living trusts for clients?
It’s not uncommon for people to delay setting up a trust, thinking they have plenty of time. I remember one case where a couple waited until they were both in their late 70s before seeking help with estate planning. Tragically, the husband passed away shortly after the trust was established, leaving his wife overwhelmed and unsure how to proceed.
That experience highlighted the importance of addressing estate planning sooner rather than later. It’s always better to be prepared.
Benefits and Impact
Studies show that over 60% of Americans don’t have a will or trust in place, leaving their loved ones vulnerable during a difficult time (The American Bar Association). A well-crafted trust can provide peace of mind knowing your assets are protected and distributed according to your wishes.
Ready To Plan Your Future?
Contact Escondido Probate Law today for a free consultation. We’ll help you navigate the complexities of estate planning and create a plan that meets your unique needs.
Testimonials
- “Steve Bliss made the complex process of setting up a trust easy to understand. He was patient, thorough, and always available to answer my questions.” – Sarah M., Escondido
- “I highly recommend Escondido Probate Law. Steve’s expertise and compassionate approach gave me confidence that my family would be taken care of after I’m gone.” – John S., San Marcos
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “Do I need a lawyer to create a living trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |