Choosing the Right Trust for Your Needs
Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you so much for taking the time to speak with us.
Steve, many people are unfamiliar with trusts and the benefits they can provide. Can you walk our viewers through some of the basics?
Understanding the Power of Trusts
There are various types of trusts designed to meet different needs. One common type is the Revocable Living Trust. This allows individuals to maintain control over their assets during their lifetime while avoiding the costly and time-consuming probate process upon death.
Moreover, a revocable living trust offers privacy, as its terms are not made public like those of a will. Consequently, it can be an effective tool for protecting your family’s financial future.
The Importance of Careful Planning
Steve, can you elaborate on any potential challenges or issues that might arise when setting up a revocable living trust?
While revocable living trusts offer many advantages, it’s crucial to work with an experienced attorney like myself. One common pitfall I see is individuals failing to properly fund the trust. This means transferring ownership of assets into the trust. If assets aren’t correctly transferred, they may still be subject to probate.
I recall a case where a client had created a revocable living trust but hadn’t updated their beneficiary designations on retirement accounts and life insurance policies. This oversight resulted in those assets bypassing the trust entirely and going through probate, which was something we were trying to avoid.
It’s essential to ensure all your assets are aligned with the terms of your trust. Notwithstanding these potential pitfalls, revocable living trusts remain a valuable estate planning tool for many individuals.
Seeking Expert Guidance
Steve, what advice would you give to someone considering setting up a trust?
My strongest recommendation is to consult with an experienced probate attorney. Estate planning can be complex, and it’s crucial to have guidance tailored to your specific circumstances. A qualified attorney can help you choose the right type of trust, ensure it’s properly funded, and address any potential issues.
Testimonials
“Steve Bliss and his team were incredibly supportive during a difficult time. They made the probate process much smoother than I anticipated.”
“I was initially overwhelmed by the prospect of estate planning, but Steve explained everything clearly and patiently. He helped me create a plan that gave me peace of mind knowing my family is protected.”
Ready to secure your legacy? Contact San Diego Probate Law today for a confidential consultation. Let us help you build a brighter future for your loved ones.
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 own out-of-state property?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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- Tax By-Pass Trust Attorney
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