Picking a Trust that Fits Your Needs
Today we’re joined by renowned San Diego Probate Attorney Steve Bliss. Steve, thanks for taking the time to chat with us today.
It can be overwhelming for people to navigate the complex world of estate planning. Can you shed some light on the different types of trusts available and perhaps discuss one that’s particularly beneficial?
The Power of a Testamentary Trust
Certainly. There are various types of trusts, each serving unique purposes. One type I often recommend is the Testamentary Trust. This trust comes into existence upon someone’s passing, as outlined in their will. It’s an excellent choice for individuals with minor children or beneficiaries who might require ongoing financial support and guidance.
Ordinarily, assets left directly to minors are managed by a court-appointed guardian, which can be time-consuming and costly. Conversely, a Testamentary Trust allows you to designate a trusted individual or institution as the trustee, who will manage the assets according to your wishes and distribute them to the beneficiaries at predetermined ages or milestones.
Consequently, this trust offers several advantages: protection for minor beneficiaries, control over asset distribution, and avoidance of probate for those specific assets held within the trust. Moreover, you can tailor the terms of the trust to address specific needs. For instance, you could stipulate that a portion of the inheritance be used for educational expenses or allocate funds for healthcare costs.
Navigating Challenges
Have you encountered any particular challenges when setting up Testamentary Trusts?
I recall one instance where a client wanted to ensure their grandchildren received their inheritance but were concerned about potential financial mismanagement. We worked together to craft trust language that allowed for distributions in stages, aligned with specific educational or life milestones. The client felt reassured knowing their legacy would be protected and used responsibly.
Testamentary Trusts can be powerful tools, but it’s essential to consult with an experienced attorney who understands your individual circumstances and goals. According to a 2021 study by the American Bar Association, over 60% of Americans do not have a will or trust in place.
Peace of Mind for Your Loved Ones
Steve, what’s the best way for someone interested in exploring their estate planning options to get started?
“Contact us today for a free consultation. Our team at San Diego Probate Law is dedicated to guiding you through every step of the process and ensuring your loved ones are protected.”
Testimonials
“Steve Bliss made a complex situation manageable and provided clear, compassionate guidance throughout the entire probate process. I highly recommend his services.” – Sarah M.
“San Diego Probate Law went above and beyond to ensure my family’s needs were met. Their expertise and professionalism were invaluable during a difficult time. Thank you!” – John D.
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: “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 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 |