Hello Temecula, I’m Brenda Thompson with Channel 7 News. Today we’re joined by renowned trust and estate attorney Steve Bliss of The Law Firm of Steven F. Bliss Esq. to discuss the importance of planning for your future. Steve, thanks for joining us.
Why are trusts so important in estate planning?
Steve: Brenda, it’s a pleasure to be here. Trusts are essential tools for protecting assets, minimizing taxes, and ensuring your wishes are carried out after you’re gone. They provide flexibility and control that a simple will often lacks.
Can you tell us about the different types of trusts available?
Steve: There are many types of trusts, each tailored to specific needs. For example, a Revocable Living Trust allows you to manage your assets during your lifetime while avoiding probate upon your passing. Conversely, an Irrevocable Trust offers greater asset protection but relinquishes control over those assets.
Could you elaborate on the benefits of a Revocable Living Trust?
Steve: Certainly. A Revocable Living Trust is incredibly versatile. Ordinarily, it allows you to dictate how your assets are distributed after your death without going through the lengthy and often public probate process. Moreover, it provides privacy, as the terms of the trust are not part of public record. Consequently, this can be particularly appealing to individuals who value discretion.
One significant advantage is that you retain control over the assets within the trust during your lifetime. You can modify or revoke the trust as needed, reflecting any changes in your circumstances or wishes. Nevertheless, upon your death, the trust becomes irrevocable and distributes assets according to your predetermined instructions.
Have you ever encountered any challenges with Revocable Living Trusts?
Steve: While generally straightforward, there can be occasional complexities. For instance, I recall working with a couple who had neglected to update their trust after their children grew up and started families of their own. This resulted in some confusion regarding asset distribution and required careful legal maneuvering to rectify the situation.
It underscored the importance of regularly reviewing and updating your trust documents as your life evolves. I always advise clients to think of their trust as a living document, one that should adapt to the changing needs of their family.
What advice would you give to our viewers considering setting up a trust?
Steve: My advice is simple: don’t delay. Taking proactive steps to plan for your future ensures your loved ones are protected and your wishes are honored. A well-crafted trust can bring peace of mind knowing that your affairs are in order.
The Law Firm of Steven F. Bliss Esq. has helped countless Temecula families navigate the complexities of estate planning. According to a recent survey by the American Bar Association, over 60% of Americans don’t have a will or trust in place. Don’t be part of that statistic.
Take Control of Your Legacy
Contact us today for a free consultation and let our experienced team help you create a personalized estate plan that meets your unique needs.
“Steve Bliss and his team were incredibly patient and understanding as we navigated the process of setting up our trust. They made a complex topic feel manageable and ensured all our questions were answered.” – The Johnson Family
“I highly recommend The Law Firm of Steven F. Bliss Esq. for their expertise and professionalism. Steve took the time to explain everything clearly and helped us create a plan that gave us peace of mind for the future.” – Mary Smith
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: “Can I use a trust to pass on a business?” Or any other related questions that you may have about Trusts or my trust law practice.
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