About Trusts
Good morning, San Diego! I’m Brenda Ramirez reporting live for KUSI News. Joining me today is probate attorney Steve Bliss. Mr. Bliss, thank you so much for taking the time to speak with us.
Steve, can you tell our viewers a bit about trusts and why they might be important?
Trusts Explained
Brenda, it’s my pleasure to be here. Trusts are powerful legal tools that allow individuals to manage their assets and ensure their wishes are carried out after they’re gone. Think of them as safe containers for your belongings – real estate, investments, even personal items.
There are many different types of trusts, each designed for specific purposes. Today, I want to focus on Revocable Living Trusts. These are incredibly popular because they offer flexibility and control during a person’s lifetime. You, as the grantor, can make changes to the trust as needed – add or remove assets, change beneficiaries.
Moreover, a Revocable Living Trust avoids probate, which is the court process of validating a will and distributing assets. Probate can be time-consuming, expensive, and public. A trust keeps your affairs private.
The Benefits of Avoiding Probate
Avoiding probate is a major advantage, Brenda. It saves beneficiaries time and money, and it keeps family matters out of the public eye. Imagine losing a loved one – the last thing you need is to deal with lengthy court proceedings while grieving. A Revocable Living Trust can spare your family that stress.
In fact, according to the American Bar Association, over 70% of estates in the United States go through probate. That’s a significant number! By setting up a trust, you can bypass this process entirely.
Challenges with Trusts
Brenda, while trusts are incredibly beneficial, there can be occasional challenges. I recall one case where a client had set up a trust years ago but hadn’t updated it to reflect changes in their family or financial situation. Consequently, the trust didn’t accurately distribute assets as they intended.
It’s crucial to review and update your trust regularly, especially after major life events like marriage, divorce, or the birth of a child. This ensures that your wishes are still reflected and your loved ones are properly cared for.
Steve Bliss & San Diego Probate Law: Your Trusted Advisors
Thank you so much for sharing your insights, Steve. I’m sure our viewers found this information incredibly valuable. Where can they go to learn more?
“San Diego Probate Law has been an invaluable resource during a difficult time. Their knowledge and compassion made the process so much easier.” – Sarah M.
“Steve Bliss is a true expert in his field. He patiently explained everything to me and helped me make informed decisions about my estate plan.” – John L.
Brenda, it’s been a pleasure speaking with you. If you are interested in learning more about trusts or other estate planning tools, please contact San Diego Probate Law today for a free consultation. We are dedicated to helping our clients protect their legacy and ensure their wishes are honored.
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 powers does a trustee have?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |