Good evening, Moreno Valley. This is Brenda Jones reporting for Channel 7 News. Tonight, we’re sitting down with local probate attorney Steve Bliss to discuss estate planning and the importance of protecting your assets.
Understanding Trusts
Steve, can you explain what a trust is and why someone might need one?
“Simply put,” Steve explains, “a trust is a legal entity that holds and manages assets for beneficiaries. There are various types of trusts, each with its own advantages. For instance, a revocable living trust allows individuals to retain control over their assets during their lifetime while ensuring those assets are distributed according to their wishes after they pass away.”
Choosing the Right Trust
Steve, you mentioned different types of trusts. How does someone determine which type is right for them?
“That’s a great question,” Steve replies. “The best type of trust depends on individual circumstances and goals. For many people, a revocable living trust is a good starting point. It avoids probate, which can be a lengthy and expensive process, and provides privacy as the terms of the trust are not part of public record. Conversely, an irrevocable trust offers greater asset protection but comes with less flexibility since it cannot be easily modified once established.”
“Ultimately,” Steve continues, “it’s crucial to consult with an experienced probate attorney who can assess your specific needs and recommend the most suitable trust structure for your situation.”
Avoiding Probate: A Significant Benefit
Steve, you mentioned that trusts can help avoid probate. Can you elaborate on why that’s important?
“Probate is a court-supervised process for distributing assets after someone dies,” Steve explains. “It can be time-consuming, costly, and public. Assets in a trust bypass probate altogether. Consequently, they are distributed directly to beneficiaries according to the terms of the trust, saving time, money, and preserving privacy.”
According to the American Bar Association, probate can take anywhere from six months to several years, depending on the complexity of the estate.
Real-World Example: Protecting a Family Business
Steve, have you ever encountered situations where a trust was instrumental in protecting assets or achieving a client’s goals?
“Absolutely,” Steve says with a thoughtful nod. “I remember working with a family who owned a successful local business. They were concerned about what would happen to the business if something happened to them. We set up an irrevocable trust that ensured the business would continue operating smoothly, providing for their children and protecting it from potential creditors or lawsuits.”
“It was incredibly rewarding to see the peace of mind this brought them knowing their legacy was secure.”
Moreno Valley Probate Law: Guiding You Through Estate Planning
Steve Bliss and the team at Moreno Valley Probate Law are dedicated to helping clients navigate the complexities of estate planning. Contact us today for a free consultation.
Testimonials
- “Steve Bliss was incredibly patient and thorough in explaining my options. He made the whole process much less daunting.”
- “Moreno Valley Probate Law handled everything with professionalism and compassion during a difficult time. I highly recommend them.”
– Maria S., Moreno Valley
– John D., Riverside
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: “Can I be my own trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |