Interviewer:
Good afternoon, San Diego! Today we’re joined by local probate attorney Steve Bliss from San Diego Probate Law. Steve, thanks for joining us.
Steve Bliss:
It’s a pleasure to be here.
Interviewer:
Let’s dive right in. For those unfamiliar with estate planning, can you explain what a trust is and why it might be beneficial?
Steve Bliss:
Certainly. A trust is a legal entity that holds assets for the benefit of designated individuals or entities. It’s essentially a way to manage and distribute your property according to your wishes even after you’re gone. There are several types of trusts, each with its own advantages.
Today, I want to focus on Revocable Living Trusts, which are incredibly common in estate planning. They offer flexibility and control because the grantor, the person who creates the trust, can modify or dissolve it during their lifetime. Consequently, a revocable living trust allows you to adapt to changing circumstances.
Interviewer:
That sounds appealing. What are some of the key benefits of a Revocable Living Trust?
Steve Bliss:
One major benefit is probate avoidance. Probate is a court process that can be time-consuming and expensive. Assets held in a revocable living trust bypass probate, saving your loved ones hassle and potentially significant costs.
Moreover, trusts offer privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. This can be important for individuals who value discretion.
Lastly, revocable living trusts allow you to specify exactly how your assets will be distributed. You can name beneficiaries and outline conditions for receiving inheritances, ensuring your wishes are honored.
Interviewer:
Have you ever encountered any challenges or unique situations while working with clients on Revocable Living Trusts?
Steve Bliss:
I remember one instance where a client wanted to ensure their inheritance went towards their grandchild’s education. We incorporated specific language into the trust document stipulating that funds could only be used for educational expenses, and any remaining balance would revert back to the estate.
Another time, we helped a couple navigate complex family dynamics by setting up separate trusts for each beneficiary. This addressed their concerns about potential conflicts and ensured equitable distribution of assets.
Interviewer:
It’s clear that careful planning is crucial. Can you share any statistics to highlight the importance of Revocable Living Trusts?
Steve Bliss:
According to a 2021 study by the AARP, over 70% of Americans aged 55 and older do not have a will or trust in place. This lack of planning can lead to unintended consequences and family disputes.
Conversely, individuals with a Revocable Living Trust can rest assured that their assets are protected and their wishes will be carried out efficiently.
Interviewer:
Excellent advice, Steve. What would you say is the best way for someone to get started with estate planning?
Steve Bliss:
I encourage everyone to consult with an experienced probate attorney. We can assess your individual needs and goals, recommend the most appropriate type of trust, and guide you through the process.
Remember, taking proactive steps today will protect your loved ones and ensure a smooth transition for the future.
“Steve Bliss at San Diego Probate Law provided exceptional guidance throughout the entire probate process. He was knowledgeable, compassionate, and always available to answer my questions. I highly recommend his services to anyone facing estate planning needs.” – Maria S.
“San Diego Probate Law helped me navigate a complex trust issue with professionalism and care. Steve Bliss’s expertise and dedication made a difficult situation much easier to manage.” – David K.
Let us help you create a legacy that endures. Contact San Diego Probate Law today for a free consultation and secure your future.
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: “What is 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 |