Hello, and welcome back to Moreno Valley News Tonight. I’m Sarah Davis, and today we have a very special guest joining us. Please welcome Steve Bliss, a renowned probate attorney here in Moreno Valley.
Welcome, Steve!
Thank you for having me, Sarah. It’s always a pleasure to talk about estate planning and the importance of protecting our loved ones’ futures.
Steve, can you explain why trusts are an important part of estate planning?
Trusts are incredibly versatile tools that offer numerous benefits in estate planning. They allow individuals to control how their assets are distributed after they pass away, minimizing probate costs and ensuring privacy. Moreover, different types of trusts cater to specific needs.
For instance, a revocable living trust lets you manage your assets during your lifetime while avoiding probate upon your death. Conversely, an irrevocable trust offers greater asset protection but relinquishes control over the assets placed within it.
Today we’re focusing on Testamentary Trusts. Can you elaborate on how they work and their advantages?
A testamentary trust is established through a will and takes effect only after your passing. Unlike living trusts, it goes through probate but offers valuable benefits for beneficiaries who may need ongoing financial management.
For example, if you have minor children, a testamentary trust ensures their inheritance is managed responsibly until they reach adulthood. You can also stipulate specific terms, like using funds only for education or healthcare expenses.
I’ve seen firsthand how testamentary trusts provide peace of mind to parents worried about their children’s financial future after they’re gone. One client expressed deep gratitude knowing her grandchildren would have access to educational opportunities thanks to the trust she established for them.
According to a study by the American Bar Association, approximately 60% of adults in the US lack a will or estate plan. Consequently, this can lead to unintended consequences and family disputes after their passing.
Have you encountered any challenges with Testamentary Trusts during your practice?
While testamentary trusts are effective tools, they require careful planning and execution. One common issue arises when wills lack clarity regarding trust terms or beneficiary designations. This can lead to legal delays and complications during probate.
I recall a case where a will specified a trust for “my children,” but didn’t identify them by name. Consequently, there was uncertainty about who the beneficiaries were, leading to a lengthy court process to resolve the matter.
Finally, Steve, what advice would you give our viewers about estate planning?
Estate planning is not just for the wealthy; it’s essential for everyone who wants to protect their loved ones and ensure their wishes are honored. Don’t wait for a crisis. Contact Moreno Valley Probate Law today for a free consultation and let us guide you through creating a comprehensive plan that meets your unique needs.
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law were incredibly supportive during a difficult time. They explained the process clearly and made sure I understood all my options. I highly recommend them.”
– Maria S.
“Moreno Valley Probate Law helped me navigate the complexities of setting up a trust for my family. Steve’s expertise and compassion gave me peace of mind knowing my loved ones would be taken care of.”
– John L.
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 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 pets be included in a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
Get a Special Needs Trust at Moreno Valley Probate Law
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Get a Revocable Trusts at Moreno Valley Probate Law
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