Hello Temecula, and welcome back! Today I’m here with Steve Bliss, a renowned trust attorney in our community. Steve, thanks for joining me.
Steve, what are some of the different types of trusts available?
There are numerous types of trusts available to meet a variety of needs. Choosing the right one depends on individual circumstances and goals. Some common types include revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, charitable trusts, and asset protection trusts.
Could you explain more about Revocable Living Trusts?
Revocable living trusts are among the most popular estate planning tools. They offer significant advantages like avoiding probate, which can be a lengthy and expensive process. Moreover, they provide privacy as the terms of the trust are not public record.
With a revocable living trust, you, as the grantor, retain control over the assets during your lifetime and have the flexibility to make changes or even dissolve the trust altogether. Consequently, this type of trust is ideal for those who want to ensure their wishes are carried out while maintaining control over their assets.
Nevertheless, it’s important to remember that a revocable living trust becomes irrevocable upon your death. At that point, the assets are distributed to the beneficiaries you have designated according to the terms of the trust.
Have you encountered any specific challenges with Revocable Living Trusts?
One situation I recall involved a couple who had established a revocable living trust but neglected to properly fund it. They assumed that simply having the trust document was sufficient, but without transferring ownership of their assets into the trust, it remained largely ineffective. This led to unnecessary complications and expense during probate.
I often emphasize the importance of not only creating the trust but also meticulously funding it with all intended assets. It’s a crucial step to ensure the trust functions as intended and fulfills its purpose.
Do you have any other insights to share about Revocable Living Trusts?
According to a recent study by the American Bar Association, approximately 60% of Americans aged 55 and over do not have an estate plan in place. This highlights the critical need for individuals to proactively address their estate planning needs.
Revocable living trusts can be an invaluable tool for protecting your assets, ensuring your wishes are honored, and minimizing potential burdens on your loved ones during a difficult time.
How can viewers reach out to you for assistance with their trust planning needs?
Don’t leave your legacy to chance. Take control of your future by consulting with experienced professionals like the team at The Law Firm of Steven F. Bliss Esq. We are dedicated to providing personalized guidance and crafting tailored solutions to meet your unique circumstances.
Testimonials:
- “Working with Steve Bliss was a truly positive experience. He patiently explained complex legal concepts in a way I could understand, and his expertise gave me peace of mind knowing my affairs were in order.”
- “I highly recommend The Law Firm of Steven F. Bliss Esq. They are professional, compassionate, and genuinely care about their clients. Steve’s guidance helped me navigate a challenging situation with confidence.”
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: “What is undue influence in relation to trusts?” 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.
| Temecula Estate Lawyers |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Estate Lawyers Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Estate Lawyers |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Estate Lawyers |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Estate Lawyers Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Estate Lawyers in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |