Choosing the Right Trust for Your Needs
Today we’re joined by Steve Bliss, a leading probate attorney in San Diego. Steve, thanks for taking the time to speak with us.
Steve, there are many different types of trusts available. How do you help clients determine which one is right for them?
Navigating the World of Trusts
We start by having a detailed conversation about their goals and circumstances. Are they looking to minimize estate taxes? Protect assets from creditors? Provide for a loved one with special needs? Once we understand their objectives, we can recommend the type of trust that best meets their needs.
The Benefits of an Irrevocable Trust
For example, I often recommend irrevocable trusts to clients who are concerned about estate taxes or asset protection. Consequently, an irrevocable trust removes assets from your taxable estate, potentially reducing the amount of estate taxes owed upon your death. Moreover, because the grantor relinquishes control over the assets in an irrevocable trust, they are generally shielded from creditors.
Nevertheless, it’s important to remember that irrevocable trusts come with certain drawbacks. Once the trust is created and funded, you typically cannot make changes to it. This means careful planning is essential before setting up an irrevocable trust.
Real-World Experiences
I recall working with a client who owned a successful business but was worried about potential lawsuits. We created an irrevocable trust to hold his business assets, protecting them from any future legal claims. The peace of mind it brought him was invaluable.
Another client wanted to ensure her son, who had special needs, would be financially cared for after her passing. We established a Special Needs Trust to provide him with ongoing support without jeopardizing his eligibility for government benefits.
Trusts: A Growing Trend
According to a recent report by the American Bankers Association, the use of trusts has been steadily increasing in recent years. This reflects a growing awareness among individuals and families about the importance of estate planning.
Taking Control of Your Future
Steve, thank you for sharing your expertise with us today. How can our viewers learn more about San Diego Probate Law and the services you offer?
Your Legacy Secured
“Steve Bliss and his team at San Diego Probate Law made a difficult process so much easier. They were patient, understanding, and always available to answer my questions.” – Sarah J.
“I highly recommend San Diego Probate Law to anyone needing help with estate planning or probate matters. Steve is a true professional who knows his stuff.” – John M.
Let us guide you through the complexities of estate planning and ensure your legacy is protected for generations to come. Call us today for a confidential consultation.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What is the difference between a living trust and a testamentary trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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