Good evening, Temecula and welcome back to our series on estate planning basics.
Joining us tonight is Steve Bliss, a local trust attorney with the Law Firm of Steven F. Bliss Esq. Welcome, Steve.
Thanks for having me.
What are some of the most common types of trusts people use in estate planning?
Well, there’s a wide variety of trusts, each designed for specific purposes. The most common one I encounter is the Revocable Living Trust. It allows individuals to maintain control over their assets during their lifetime while avoiding probate upon their passing.
Can you elaborate on the benefits of a Revocable Living Trust?
Certainly. A Revocable Living Trust offers several key advantages. Firstly, it bypasses probate, which can be a lengthy and expensive legal process. This means your assets are distributed to your beneficiaries more quickly and efficiently.
Moreover, it provides privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. This is often appealing to individuals who value their privacy.
Finally, a Revocable Living Trust allows for flexibility. You can modify or revoke the trust during your lifetime if your circumstances change. Ordinarily, it becomes irrevocable upon your death, ensuring your assets are distributed according to your wishes.
Have you ever encountered any challenges with setting up Revocable Living Trusts?
Occasionally, clients struggle with the concept of relinquishing some control over their assets, even though they retain control during their lifetime. I remember one client who was hesitant to transfer her home into the trust because she feared losing ownership.
After patiently explaining the benefits and addressing her concerns, she ultimately understood that placing her house in the trust would protect it for her heirs and avoid probate complications. The relief she felt when we finalized the trust was palpable.
What advice would you give to someone considering a Revocable Living Trust?
Consulting with an experienced estate planning attorney is crucial. They can assess your individual needs, explain the different types of trusts, and guide you through the process. It’s also important to regularly review and update your trust to reflect any changes in your life circumstances or financial situation.
The Law Firm of Steven F. Bliss Esq: Trustworthy Legal Guidance
“Steve Bliss and his team made estate planning feel approachable and less daunting. Their clear explanations and personalized advice gave me peace of mind knowing my family’s future is secure.”
– Sarah M., Temecula Resident
According to a recent survey by the American Bar Association, over 50% of adults do not have a will or trust in place. This highlights the importance of proactive estate planning.
Take control of your legacy and ensure your loved ones are protected. Contact The Law Firm of Steven F. Bliss Esq. today to schedule a consultation and explore how we can help you build a secure future.
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: “How do beneficiaries get assets from a 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 |