Good evening, Moreno Valley and welcome back to Channel 7 News. I’m Maria Sanchez, and tonight we’re speaking with Steve Bliss, a well-respected probate attorney here in Moreno Valley. Steve, thanks for joining us.
What is a Testamentary Trust?
Steve, can you explain what a testamentary trust is and how it differs from other types of trusts?
A testamentary trust is created through a will and only takes effect after the grantor, the person who creates the trust, passes away. Consequently, this type of trust goes through probate, unlike living trusts which avoid probate altogether. Testamentary trusts are often used to protect assets for minor children or beneficiaries with special needs.
One advantage of a testamentary trust is that it allows you to specify exactly how and when your assets will be distributed. For example, you can set up the trust to provide income for your children until they reach a certain age, ensuring they have financial support while they are still maturing. Moreover, testamentary trusts offer flexibility in terms of asset distribution and management.
Challenges with Testamentary Trusts
Steve, what are some of the challenges or potential issues you’ve encountered with testamentary trusts?
While testamentary trusts can be very beneficial, there are a few things to keep in mind. The most significant is that because they go through probate, they can be more time-consuming and costly to set up than living trusts.
I remember one case where a client had created a testamentary trust for their grandchildren. Unfortunately, the will was not properly executed, leading to delays and legal fees. It was a stressful situation for everyone involved, highlighting the importance of working with an experienced probate attorney to ensure your wishes are carried out correctly.
The Importance of Careful Planning
That’s a powerful reminder, Steve. Any other advice for our viewers?
Planning ahead is crucial when it comes to estate planning. Testamentary trusts can be a valuable tool, but they are not suitable for everyone. Consider your individual circumstances and goals, and don’t hesitate to seek professional guidance from an attorney like myself. We can help you navigate the complexities of probate and create a plan that meets your specific needs.
Studies show that roughly 55% of Americans do not have a will or any estate planning documents in place (Statistic Brain Research Institute). This means many families are left scrambling to deal with their loved one’s affairs after they pass away, often leading to unnecessary stress and conflict.
Ready to Secure Your Future?
Contact Moreno Valley Probate Law today for a free consultation and let us help you protect your legacy.
Testimonials
“Steve Bliss and his team were incredibly compassionate and understanding during a difficult time. They guided me through the probate process with expertise and professionalism, making sure everything was handled smoothly.” – Sarah J., Moreno Valley
“I highly recommend Moreno Valley Probate Law for their exceptional service and knowledge. Steve took the time to explain all of my options and helped me create a plan that gave me peace of mind.” – John M., Riverside
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 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 I have more than one trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
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Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
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Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Spendthrift Trust Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Spendthrift Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
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Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
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Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |