Good morning, San Diego! Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thanks for taking the time to speak with us.
Steve, can you explain the different types of trusts and their purposes?
Certainly. There are numerous types of trusts, each designed for specific financial goals and situations. Let’s focus on one that’s quite popular: the Revocable Living Trust.
A Revocable Living Trust allows individuals to maintain control over their assets during their lifetime while ensuring a smooth transfer of those assets upon their passing. This avoids the lengthy and often costly probate process, providing privacy and efficiency for loved ones.
How does a Revocable Living Trust work in practice?
Imagine you create a trust document naming yourself as the trustee. You then transfer ownership of your assets – such as your home, investments, or bank accounts – into the trust. During your lifetime, you retain complete control over these assets, making changes or distributions as needed.
Consequently, this flexibility is a significant advantage. When you pass away, the trust automatically distributes your assets to your designated beneficiaries according to your wishes, bypassing probate entirely.
Have you encountered any challenges with Revocable Living Trusts during your practice?
While generally straightforward, there are instances where clients might unintentionally complicate matters. For instance, I once worked with a couple who diligently set up a revocable living trust but neglected to consistently update the beneficiary designations on their retirement accounts and life insurance policies.
This oversight led to unintended consequences, as those assets ended up going through probate instead of smoothly transitioning according to the trust terms. It underscored the importance of meticulous attention to detail when establishing a trust and ensuring all financial instruments align with the overarching plan.
What advice would you give to someone considering a Revocable Living Trust?
My advice is simple: Don’t hesitate to seek professional guidance. Estate planning can be complex, and a qualified attorney specializing in probate law can help tailor a trust that meets your specific needs and circumstances. Remember, approximately 70% of Americans don’t have a will or estate plan, according to the American Bar Association.
That figure alone highlights the importance of proactive planning. By establishing a Revocable Living Trust, you’re not only securing your legacy but also providing peace of mind for yourself and your loved ones.
How can potential clients connect with San Diego Probate Law?
Ready to take control of your future? Contact San Diego Probate Law today for a free consultation and let our team guide you through the intricacies of estate planning.
“Steve Bliss is an exceptional probate attorney. He made a difficult process understandable and helped us navigate the complexities with compassion and expertise. We highly recommend his services.” – The Jones Family
“San Diego Probate Law went above and beyond to ensure that my mother’s estate was handled properly and efficiently. Their professionalism and attention to detail were truly impressive.” – Sarah M.
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 a trust make charitable gifts?” 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 |