Good evening Temecula and welcome to another edition of “Legal Matters”. I’m your host, Tiffany Jones, and tonight we have the pleasure of speaking with renowned Temecula Trust Attorney, Steve Bliss. Steve, thanks for joining us.
Welcome
It’s great to be here, Tiffany. Thanks for having me.
Why Do People Choose a Trust?
Steve, for our viewers who may not be familiar with trusts, can you explain why someone might choose to set up a trust as part of their estate planning?
Benefits of Trusts
There are many reasons why individuals opt for trusts. One primary benefit is avoiding probate, which can be a lengthy and costly process. A trust allows assets to pass directly to beneficiaries without going through court.
Moreover, trusts offer enhanced privacy compared to wills, as the terms of the trust are not publicly accessible. This can be particularly appealing for individuals who value discretion in managing their affairs.
What Type of Trust is Most Common?
Steve, what type of trust do you find most people gravitate towards?
The Revocable Living Trust
The revocable living trust is by far the most common type we see. It offers a great deal of flexibility for our clients. During their lifetime, they retain control over the assets in the trust and can make changes as needed. Consequently, this type of trust allows individuals to adapt to life’s changing circumstances.
Upon the grantor’s passing, the trust becomes irrevocable, ensuring a smooth transfer of assets to beneficiaries without the delays and expenses associated with probate.
Challenges With Trusts
Steve, are there any common challenges you encounter when helping clients set up trusts?
Communication and Clarity
One challenge we sometimes face is ensuring clear communication between family members regarding the terms of the trust. It’s essential that everyone understands their roles and responsibilities. I remember one instance where siblings had differing expectations about how assets should be distributed, leading to some initial tension.
We were able to facilitate a productive conversation, helping them reach a consensus that honored their parents’ wishes while addressing their individual concerns.
According to the American Bar Association, nearly 60% of Americans do not have a will or trust in place. This underscores the critical need for estate planning and highlights the importance of seeking professional guidance.
Contact Us
Steve Bliss, thank you so much for sharing your expertise with us tonight. For viewers interested in exploring their estate planning options, Steve and his team at The Law Firm of Steven F. Bliss Esq. are here to help guide you through the process.
Testimonials
“Working with Steve Bliss was a truly positive experience. He made the complex world of trusts easy to understand and took the time to answer all my questions thoroughly.” – Sarah M.
“I felt completely at ease knowing that Steve had my best interests in mind. He was professional, compassionate, and dedicated to ensuring my estate plan reflected my wishes.” – John D.
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 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 is an AB trust?” 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |