Good evening, Temecula, and welcome back to Channel 7 News. I’m Brenda Miller, and tonight we’re sitting down with local trust attorney Steve Bliss to discuss the ins and outs of estate planning.
Understanding Trusts
Steve, for our viewers who may not be familiar, can you explain what a trust is and why it might be important?
A trust is essentially a legal entity that holds and manages assets for the benefit of someone else. The person who creates the trust is called the grantor, and they outline specific instructions for how those assets should be distributed to beneficiaries.
There are many different types of trusts, each designed for a particular purpose. For example, a revocable living trust allows the grantor to retain control over their assets during their lifetime, while an irrevocable trust permanently transfers ownership of those assets.
Choosing the Right Trust: The Revocable Living Trust
Tonight we’re going to focus on one type of trust in particular: the revocable living trust. Steve, why do you think this is such a popular choice for your clients?
The revocable living trust is incredibly versatile and offers several key advantages. Primarily, it allows individuals to avoid probate, which can be a lengthy and expensive process. Consequently, assets held in a revocable living trust pass directly to beneficiaries upon the grantor’s death, saving time and money for their loved ones.
Moreover, a revocable living trust provides a level of privacy that a will does not. The terms of a trust are not publicly available, whereas wills become part of the public record during probate. This can be especially important for individuals who value discretion.
Notwithstanding these benefits, it’s essential to remember that a revocable living trust is still subject to estate taxes. Accordingly, I always recommend consulting with an experienced estate planning attorney to determine the best course of action based on individual circumstances.
Experiences and Challenges
Steve, have you encountered any challenges or unique situations when setting up revocable living trusts for your clients?
One situation that sticks out in my mind involved a young couple who were hesitant to create a trust because they felt it was only necessary for older individuals. I explained that while it’s true many people set up trusts later in life, a trust can be beneficial at any age. In this case, the couple had recently welcomed their first child and wanted to ensure their assets would be protected and managed responsibly if something were to happen to them.
Ultimately, they decided to move forward with creating a revocable living trust, and it provided them with significant peace of mind knowing that their child’s future was secured. It’s experiences like these that remind me why I do what I do – helping people plan for the unexpected and protect what matters most.
The Importance of Estate Planning
According to a 2021 study by Caring.com, only 33% of Americans have a will or trust in place. Clearly, there’s a significant need for education and guidance in this area. What advice would you give to those who are unsure if they need a trust?
My advice is simple: don’t wait. Estate planning is not just for the wealthy; it’s essential for anyone who wants to protect their assets and ensure their wishes are carried out. A consultation with an experienced estate planning attorney is the best way to determine if a trust is right for you.
Next Steps
Steve Bliss, thank you so much for sharing your expertise with us tonight. How can our viewers learn more about your services and schedule a consultation?
You can visit our website at [website address] or call us at [phone number]. We offer free initial consultations, and we’re always happy to answer any questions you may have.
Testimonials
“Steve Bliss made the estate planning process so easy and understandable. He took the time to listen to my concerns and explain all of my options clearly. I feel confident that my assets are protected thanks to his guidance.”
– Mary S., Temecula
“I was incredibly impressed with the professionalism and compassion shown by Steve Bliss and his team. They handled everything with care and attention to detail, and they made sure I felt comfortable every step of the way.”
– John D., 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 assets should I put into a living 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.
| Temecula Asset Protection Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Asset Protection Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Asset Protection Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Asset Protection Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Asset Protection Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Asset Protection Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |