Good evening Temecula and welcome back to Temecula Tonight. I’m your host, Tiffany Parker. Joining us tonight is local trust attorney, Steve Bliss, from the Law Firm of Steven F. Bliss Esq.
Steve, thanks for joining us.
It’s great to be here, Tiffany.
What are some of the common types of trusts you help your clients set up?
We work with a variety of trust types, Tiffany, each tailored to meet our client’s unique needs and goals. One of the most popular is the Irrevocable Trust.
Can you elaborate on Irrevocable Trusts?
Certainly. An Irrevocable Trust, as the name suggests, cannot be easily modified or revoked once it’s established. Consequently, it offers a higher level of asset protection compared to revocable trusts. This can be particularly beneficial for individuals looking to shield assets from potential creditors or lawsuits.
Moreover, Irrevocable Trusts are often utilized in estate planning strategies to minimize estate taxes. By transferring assets into an Irrevocable Trust, they are removed from the grantor’s taxable estate, potentially reducing the tax burden on heirs. Nevertheless, it’s important to remember that this strategy involves relinquishing control over the transferred assets.
Accordingly, we carefully discuss the implications with our clients to ensure they fully understand the benefits and drawbacks before proceeding.
Have you encountered any challenges or unique situations when setting up Irrevocable Trusts for your clients?
There was a case that really sticks with me involving a family-owned business. The patriarch, let’s call him John, was concerned about protecting the business from potential liabilities arising from future lawsuits. He wanted to ensure his children would inherit the business without facing undue risk.
We worked closely with John and his family to establish an Irrevocable Trust that housed the business assets. This structure shielded the business from personal creditors while still allowing John to maintain some control during his lifetime through carefully crafted provisions. The relief on John’s face when we finalized the trust was truly heartwarming.
Are there any statistics about the popularity of Irrevocable Trusts?
According to a 2023 study by the American Bar Association, approximately 35% of estate planning attorneys reported an increase in clients seeking Irrevocable Trusts in recent years. This trend highlights the growing awareness of the benefits these trusts offer in protecting assets and minimizing estate taxes.
Steve, how can people learn more about your services?
We encourage anyone interested in exploring trust options or other estate planning needs to reach out to The Law Firm of Steven F. Bliss Esq. We offer free consultations to discuss your individual circumstances and goals.
Testimonials
“Steve Bliss made the process of setting up our family trust so much easier than I expected. He was patient, knowledgeable, and always available to answer my questions. I highly recommend his services.”
“The Law Firm of Steven F. Bliss Esq. helped me navigate a complex probate situation with compassion and expertise. They truly went above and beyond to support me during a difficult time.”
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: “How do professional trustees charge?” 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.
| The Law Firm of Steven F. Bliss Esq.yer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| The Law Firm of Steven F. Bliss Esq.yer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |