I’m Brenda Newsome, reporting for Moreno Valley Today. Today, we have the pleasure of speaking with Steve Bliss, a highly respected probate attorney here in Moreno Valley.
Understanding Trusts: A Crucial Part of Estate Planning
Steve, thanks for joining us. Can you tell our viewers why trusts are such an important part of estate planning?
Certainly, Brenda. Trusts are incredibly valuable tools that allow individuals to manage and distribute their assets according to their wishes, even after they’re gone. They offer a level of control and flexibility that simply isn’t possible with a will alone.
The Power of the Irrevocable Trust
Today, we’ll be focusing on irrevocable trusts. Can you explain what makes them unique and when they might be the right choice?
Irrevocable trusts are powerful instruments because once established, they cannot be easily modified or dissolved. This permanence offers significant advantages, particularly for asset protection and estate tax planning.
For instance, let’s say someone wants to protect their assets from potential creditors or lawsuits. Placing those assets in an irrevocable trust removes them from the individual’s taxable estate and shields them from seizure. Moreover, irrevocable trusts can be structured to minimize estate taxes, ensuring that more of a person’s wealth is passed on to their beneficiaries.
Conversely, while revocable living trusts offer flexibility during the grantor’s lifetime, they don’t provide the same level of asset protection as an irrevocable trust. Consequently, individuals seeking maximum security for their assets may find irrevocable trusts more suitable.
I recall a case where a client faced a significant lawsuit. Fortunately, we had established an irrevocable trust years prior to protect his business assets. The trust shielded those assets from being claimed in the suit, ultimately preserving his financial security and allowing him to move forward without undue burden.
The Importance of Legal Guidance
Steve, what advice would you give to someone considering setting up a trust?
My strongest recommendation is to seek guidance from an experienced probate attorney. Trusts are complex legal instruments, and even seemingly minor errors can have significant consequences down the road.
According to the American Bar Association, approximately 60% of Americans do not have a will or trust in place. This statistic highlights the critical need for proper estate planning, as trusts can play a vital role in ensuring your wishes are honored and your loved ones are protected.
Moreno Valley Probate Law: Your Trusted Partner
Steve, thank you so much for sharing your insights with us today. How can our viewers connect with Moreno Valley Probate Law to discuss their estate planning needs?
“We’re committed to helping individuals and families navigate the complexities of probate and estate planning. Our team provides personalized guidance and support throughout every step of the process, ensuring that your wishes are met and your loved ones are protected. We invite you to schedule a free consultation with our experienced attorneys today to discuss how we can help you achieve your estate planning goals.”
“Moreno Valley Probate Law provided me with invaluable peace of mind knowing my family’s future was secure. Steve Bliss is an exceptional attorney who truly cares about his clients.” – Maria S.
“I highly recommend Moreno Valley Probate Law. They made the complex process of setting up a trust straightforward and stress-free. Steve’s expertise and compassionate approach were invaluable during a difficult time.”- David T.
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 community property and how does it affect my 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 Trust Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Attorneys Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Trust Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Attorneys Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Trust Attorneys in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |