Choosing the Right Trust for Your Needs
Today we’re joined by Steve Bliss, a well-respected probate attorney here in San Diego. Steve, thanks for taking the time to speak with us.
Steve, many people are unfamiliar with trusts and how they can benefit them. Can you tell our viewers about the different types of trusts available?
Understanding Trust Options
Well, there are several types of trusts, each designed for a specific purpose. Some common ones include revocable living trusts, irrevocable trusts, testamentary trusts, and special needs trusts.
A revocable living trust is a popular choice because it allows individuals to maintain control over their assets during their lifetime while avoiding probate upon death. Conversely, an irrevocable trust permanently transfers ownership of assets, offering benefits like asset protection and potential tax advantages.
Testamentary trusts are created through a will and only come into effect after the grantor’s passing. They are often used to manage assets for minor children or beneficiaries with special needs. Special needs trusts, on the other hand, are specifically designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for government benefits.
Navigating the Complexity of Trusts
Steve, many people find the world of trusts confusing. What advice would you give someone considering setting up a trust?
The key is to consult with an experienced probate attorney who can assess your individual circumstances and recommend the best type of trust for your needs. It’s crucial to understand the implications of each option, as they can have significant legal and financial consequences.
For example, let’s say someone wants to protect their assets from potential creditors while still retaining some control over them. An irrevocable trust might be a suitable option, but it’s essential to carefully consider the ramifications before making such a decision. Consequently, I always emphasize the importance of open communication and thorough planning.
Experiences with Irrevocable Trusts
Speaking of irrevocable trusts, can you share any experiences you’ve had helping clients navigate the complexities of this type of trust?
I recall working with a client who was concerned about potential liability from their business. We decided that an irrevocable trust would be the best way to shield their personal assets while still allowing them to benefit from their business income. It was a complex process, but ultimately, they were relieved to have peace of mind knowing their assets were protected.
Another case involved a family who wanted to ensure their daughter with special needs would continue to receive the care she needed after their passing. We established a special needs trust that would provide for her ongoing expenses without affecting her eligibility for government assistance.
Building Trust and Peace of Mind
It’s clear that you have a passion for helping your clients protect their assets and plan for the future. How does San Diego Probate Law approach these sensitive matters?
At San Diego Probate Law, we strive to build lasting relationships with our clients based on trust and understanding. We take the time to listen carefully to their concerns and goals, then develop personalized solutions that meet their unique needs.
Moreover, we are committed to providing clear and concise explanations of complex legal concepts, ensuring that our clients feel empowered throughout the process.
The Impact of Trusts: Protecting Families
Studies have shown that over 70% of Americans do not have a will or trust in place (Statistic Brain Research Institute). This highlights the importance of estate planning and the peace of mind it can bring to families.
“Steve Bliss helped me navigate a very difficult time after my husband’s passing. His knowledge and compassion made the probate process much less stressful. I highly recommend San Diego Probate Law.” – Maria S.
“I was initially overwhelmed by the idea of setting up a trust, but Steve explained everything clearly and patiently. He made me feel confident in my decisions and ensured that my family’s future was protected.” – David L.
Empowering Your Future: Take Charge Today
Ready to secure your legacy and protect what matters most? Contact San Diego Probate Law for a complimentary consultation and discover how we can help you navigate the complexities of estate planning with confidence.
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: “How often should I update my trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Totten Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Totten Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |