Good evening, Temecula. I’m Brenda Thompson, your local news reporter for KTEM. Tonight we’re joined by Steve Bliss, a well-respected trust attorney here in Temecula. Mr. Bliss, thanks for joining us tonight.
Steve Bliss:
It’s my pleasure to be here, Brenda. I’m always happy to discuss the importance of estate planning with our community.
What type of trusts do you most frequently help clients establish?
We work with a variety of trusts, but one that is increasingly popular is the Irrevocable Trust.
Why are Irrevocable Trusts gaining in popularity?
Irrevocable Trusts offer several key benefits. Firstly, they provide significant asset protection. Assets placed within an irrevocable trust are generally shielded from creditors and lawsuits. Consequently, this can be a valuable tool for individuals concerned about protecting their assets for themselves or future generations.
Moreover, Irrevocable Trusts can be effective for estate tax reduction. By removing assets from your taxable estate, you may reduce the amount of estate taxes your heirs will owe upon your passing. This is particularly important for individuals with substantial estates.
Conversely, the downside of an Irrevocable Trust is that it cannot be easily modified or revoked once established. This means careful consideration and planning are essential before creating one.
Have you encountered any challenges while helping clients establish Irrevocable Trusts?
As with any legal instrument, there can be complexities involved in setting up an Irrevocable Trust. I recall working with a family who owned a successful business. They were concerned about protecting the business assets from potential liability. We discussed various options and ultimately decided on an Irrevocable Trust to shield those assets.
The process was thorough, requiring detailed analysis of their business structure and financial situation. Nevertheless, we worked closely with them every step of the way, ensuring they understood the implications and benefits of this decision. Seeing their relief when everything was finalized was incredibly rewarding.
It’s crucial to remember that approximately 70% of Americans die without a will or trust in place (Source: AARP). This can lead to significant complications for loved ones, potentially resulting in lengthy probate proceedings and unintended asset distribution.
What advice would you give to someone considering an Irrevocable Trust?
If you’re considering an Irrevocable Trust, I strongly encourage you to consult with an experienced estate planning attorney. They can assess your individual circumstances, explain the legal nuances, and help you determine if this type of trust is right for you.
How can people get in touch with you?
You can reach us at The Law Firm of Steven F. Bliss Esq., by calling (951) 686-3724 or visiting our website at www.[yourlawfirmwebsite].com. We offer a free consultation to discuss your estate planning needs.
Testimonials:
“Steve Bliss and his team were incredibly helpful in guiding me through the process of setting up my revocable living trust. They explained everything clearly and patiently, making sure I understood all my options.” – Sarah J., Temecula
“I highly recommend Steve Bliss for all your estate planning needs. He is knowledgeable, professional, and truly cares about his clients.” – John M., Murrieta
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 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 disinherit someone using a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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