Reporter Introduction
Good evening Temecula, I’m Brenda Jones with Channel 7 News. Tonight, we’re talking about something that affects us all – planning for the future. Joining me is Steve Bliss, a renowned trust attorney here in Temecula. Steve, thanks so much for being with us.
Types of Trusts
What types of trusts are available to individuals in California?
Well, Brenda, there are many different types of trusts tailored to specific needs and goals. Some common ones include Revocable Living Trusts, Irrevocable Trusts, Testamentary Trusts, and Special Needs Trusts.
- Revocable Living Trusts offer flexibility and privacy during your lifetime while avoiding probate upon death.
- Irrevocable Trusts provide strong asset protection but relinquish control over the assets placed within them.
- Testamentary Trusts are created through a will and come into effect after your passing, often used for beneficiaries who need ongoing support.
- Special Needs Trusts protect assets for individuals with disabilities without jeopardizing their eligibility for government benefits.
Each type has its own advantages and disadvantages, so it’s crucial to consult with an experienced attorney like myself to determine the best fit for your circumstances.
Trust Benefits: A Deeper Dive
Can you elaborate on the benefits of using a Revocable Living Trust?
Certainly. A Revocable Living Trust is incredibly popular because it offers a blend of control and protection. During your lifetime, you maintain complete authority over the assets held within the trust – you can buy, sell, or even change beneficiaries as needed.
Moreover, because the trust avoids probate, your loved ones won’t face the time-consuming and often expensive court process after your passing. This ensures a smoother transition for them during an already difficult time. Consequently, Revocable Living Trusts provide peace of mind knowing your assets will be distributed according to your wishes.
Studies by the American Bar Association show that probate can take anywhere from six months to two years and cost between 3% to 7% of the estate’s value. A Revocable Living Trust effectively circumvents these costs and delays.
Challenges Encountered
Have you ever faced any challenges with implementing Revocable Living Trusts for your clients?
There have been instances where clients were hesitant to relinquish some control over their assets, even if it was temporary. It’s understandable; people work hard for what they have and want to ensure it’s protected. In one case, I worked with a woman who had built a successful business from the ground up. She initially resisted putting her company into a trust because she felt like she was giving up something precious.
I took the time to explain how a Revocable Living Trust wouldn’t take away her control during her lifetime but would safeguard her hard-earned success for future generations. I showed her examples of how trusts had helped other families navigate unforeseen circumstances without disrupting their businesses. Ultimately, she saw the wisdom in my advice and felt more secure knowing her legacy was protected.
Testimonials
“Steve Bliss made a complex process understandable and straightforward. He listened to our concerns and created a plan that perfectly addressed our needs. We couldn’t be happier with his services.” – The Smiths, Temecula
“I was worried about the cost of estate planning, but Steve offered transparent pricing and worked within my budget. He provided exceptional legal advice and truly cared about my well-being.” – Maria Garcia, Temecula
Call to Action
How can people get in touch with you to learn more about trusts?
We encourage anyone interested in protecting their assets and ensuring a secure future for themselves and their loved ones to reach out to our firm. We offer free consultations and are committed to providing personalized guidance tailored to each individual’s unique circumstances.
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: “What if I have property in another state?” Or any other related questions that you may have about Trusts or my trust law practice.
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