Good evening Temecula and welcome back. I’m Jessica Ramirez with Temecula Tonight. Tonight we have the pleasure of speaking with Steve Bliss, a prominent Temecula trust attorney and founder of The Law Firm of Steven F. Bliss Esq.
Steve, thanks for joining us this evening.
It’s great to be here, Jessica. I appreciate you having me.
Can you tell our viewers a little bit about what a trust is and why it might be important?
Certainly. A trust is essentially a legal arrangement where one party, known as the grantor, transfers assets to another party, called the trustee, who then manages those assets for the benefit of designated beneficiaries.
There are many reasons why establishing a trust can be incredibly beneficial. For starters, it allows you to maintain control over your assets even after you’re gone. You get to decide exactly how and when your beneficiaries receive those assets, which provides peace of mind knowing they’ll be taken care of according to your wishes.
Moreover, trusts can help avoid probate, a lengthy and often expensive legal process. Assets held in a trust are typically distributed outside of probate, saving time and money for your loved ones.
For the viewers who might be unfamiliar, could you delve into one specific type of trust and explain its key features and benefits?
Today, let’s talk about Revocable Living Trusts. These are incredibly popular among individuals looking to plan for their future. As the name suggests, a revocable living trust allows you to maintain control over your assets during your lifetime. You can modify or even dissolve the trust entirely if your circumstances change.
Consequently, this flexibility makes them an attractive option for many people. When you pass away, the trust becomes irrevocable, meaning its terms are set in stone and the trustee distributes the assets according to your instructions without the need for probate.
The beauty of a revocable living trust is that it provides privacy as well. Unlike wills, which become public record during probate, the details of a trust remain confidential.
I imagine there are sometimes challenges in setting up these trusts? Have you encountered any specific issues that viewers should be aware of?
That’s a great question. While revocable living trusts offer many advantages, it’s important to remember they’re not a one-size-fits-all solution. One common misconception is that setting up a trust is simple and straightforward. The truth is, it requires careful planning and legal expertise.
I recall working with a client who initially attempted to draft their own trust using online templates. Unfortunately, they overlooked some crucial details, which could have led to significant complications down the line. Ultimately, they sought our help to revise and ensure their trust was legally sound.
Another challenge arises when beneficiaries have differing needs or circumstances. For example, if you have a child with special needs who requires ongoing financial support, it’s essential to structure the trust in a way that doesn’t jeopardize their eligibility for government benefits. We often work closely with families to create tailored solutions that address these unique situations.
What are some tips for viewers considering setting up a trust?
- First and foremost, consult with an experienced estate planning attorney.
- They can help you determine the most appropriate type of trust for your needs and ensure it’s properly drafted and executed.
- Be honest and transparent about your assets, goals, and concerns. The more information your attorney has, the better they can advise you.
- Don’t be afraid to ask questions! This is a significant decision, and it’s crucial that you fully understand all aspects of the process.
Finally Steve, how can our viewers connect with you or The Law Firm of Steven F. Bliss Esq.?
The best way to reach us is by calling our office at (951) 682-7000. You can also visit our website at www.stevenblisslaw.com for more information about our services and to schedule a free consultation.
Testimonials:
“Steve Bliss made the entire estate planning process incredibly smooth and understandable. He took the time to answer all my questions and addressed my concerns with patience and professionalism.”
– Mary S., Temecula
“We were very impressed with The Law Firm of Steven F. Bliss Esq. They helped us navigate a complex trust situation involving our aging parents, and we couldn’t be more grateful for their expertise and compassion.”
– David & Lisa K., Murrieta
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 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 are the rights of a surviving spouse under California law?” 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.
| Temecula Estate Lawyers |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Estate Lawyers Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Estate Lawyers |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Estate Lawyers |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Estate Lawyers Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Estate Lawyers in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |