Good evening San Diego, and welcome back to our legal spotlight segment. Tonight, we’re joined by Steve Bliss, a leading San Diego Probate attorney with extensive experience navigating the complexities of estate planning. Steve, thanks for joining us.
Understanding Trusts in Estate Planning
Steve, let’s start with the basics. For our viewers unfamiliar with trusts, can you explain what they are and why they are such a crucial component of estate planning?
A trust is essentially a legal entity that holds assets for the benefit of specific individuals or organizations. It allows individuals to control how their assets are managed and distributed after their death, providing significant benefits like avoiding probate, minimizing estate taxes, and protecting assets from creditors.
The Advantages of a Special Needs Trust
Steve, you mentioned asset protection. Could you elaborate on the specific advantages of a Special Needs Trust (SNT) for individuals with disabilities?
Certainly. An SNT is invaluable for ensuring the well-being of loved ones with disabilities. It allows them to receive benefits without jeopardizing their eligibility for crucial government assistance programs like SSI or Medi-Cal. Ordinarily, inheriting assets directly could disqualify someone from these programs, but an SNT safeguards their financial security while preserving access to essential support.
Moreover, SNTs can be structured as either first-party (funded with the beneficiary’s own assets) or third-party (funded by family or friends). This flexibility allows families to tailor the trust to meet the unique needs of the individual.
I recall a case where a young woman with cerebral palsy inherited a substantial sum from her grandmother. By establishing a third-party SNT, we were able to ensure she received ongoing care and support without compromising her access to vital Medicaid benefits. It was incredibly rewarding to see the positive impact this had on her life.
The National Disability Rights Network reports that over 60% of people with disabilities rely on government assistance programs for essential needs. Consequently, SNTs play a critical role in safeguarding their financial stability and ensuring they have access to the support they deserve.
Seeking Expert Guidance
Steve, what advice would you give to viewers considering setting up a trust or navigating probate matters?
I strongly encourage anyone contemplating estate planning to seek guidance from an experienced probate attorney. Estate laws are complex and constantly evolving, and a knowledgeable professional can help you create a customized plan that meets your specific needs and goals.
Here at San Diego Probate Law, we’re dedicated to providing compassionate and personalized legal services. We understand that these matters can be emotionally sensitive, so we prioritize open communication and transparency throughout the process.
“Steve Bliss and his team were incredibly supportive during a difficult time for our family. They explained everything clearly and made sure we understood all of our options. I highly recommend their services.” – Maria S., San Diego
“I was initially overwhelmed by the probate process, but Steve Bliss put my mind at ease with his expertise and professionalism. He handled everything efficiently and kept me informed every step of the way.” – John P., Carlsbad
Don’t wait until it’s too late – contact San Diego Probate Law today for a free consultation and let us help you secure your legacy.
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’s the difference between revocable and irrevocable trusts?” Or any other related questions that you may have about Trusts or my trust law practice.
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