Today I’m joined by Steve Bliss, a Temecula trust attorney with the Law Firm of Steven F. Bliss Esq. Welcome to the show, Steve.
What types of trusts are most common for your clients?
Thanks for having me. We see a lot of different types of trusts come through our doors, but Revocable Living Trusts are by far the most popular. They offer a great balance of flexibility and protection.
Can you tell us more about why Revocable Living Trusts are so appealing?
Certainly! A Revocable Living Trust allows individuals to maintain control over their assets during their lifetime while also avoiding probate, which can be a lengthy and expensive process. Moreover, these trusts provide privacy because the terms aren’t part of public record like a will would be.
Let me elaborate on why probate avoidance is so crucial. According to a 2021 study by the American Bar Association, the average cost of probate in California can range from $4,000 to $20,000 or more, depending on the complexity of the estate. A Revocable Living Trust effectively bypasses this process, saving families both time and money during an already difficult period.
How do you guide clients through setting up a Revocable Living Trust?
We start by having in-depth conversations to understand their individual needs and goals. We discuss their assets, beneficiaries, and any specific wishes they have for the distribution of their property. Consequently, we draft a trust agreement that clearly outlines these terms.
I recall one instance where a widowed client was struggling with the thought of her children potentially arguing over her belongings after she passed. Creating a Revocable Living Trust gave her peace of mind knowing her assets would be distributed according to her wishes, minimizing the risk of familial conflict.
We then guide clients through the process of transferring ownership of their assets into the trust. This can involve updating titles on property deeds, bank accounts, and investment portfolios. Finally, we provide ongoing support and answer any questions they may have along the way.
Have you encountered any challenges while setting up Revocable Living Trusts?
While most clients find the process straightforward, there are occasional instances where individuals might hesitate to relinquish some control over their assets during their lifetime. Ordinarily, we address these concerns by explaining that a Revocable Living Trust doesn’t mean losing complete control; it simply means having a plan in place for the future.
I remember one client who was initially resistant to setting up a trust because he thought it meant giving up his independence. After a thoughtful conversation, we were able to explain how the trust could actually empower him by ensuring his wishes are carried out and his loved ones are protected. He ultimately came around and expressed gratitude for the guidance.
What is your final message for viewers considering estate planning?
Planning for the future may seem daunting, but it’s a crucial step in protecting yourself and your loved ones. A Revocable Living Trust can provide peace of mind and financial security for you and generations to come. Contact us today for a free consultation and let us help you navigate this important process.
Testimonials
“Steve Bliss and his team were incredibly patient and understanding as they guided me through the complexities of setting up my trust. I felt confident that my assets were in good hands.” – Margaret S., Temecula
“I highly recommend The Law Firm of Steven F. Bliss Esq. for all your estate planning needs. They are knowledgeable, professional, and truly care about their clients.” – David P., Murrieta
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 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: “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 The Law Firm of Steven F. Bliss Esq.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |