Hello, and welcome back to Moreno Valley News. I’m your host, Sarah Jones. Today we have the pleasure of speaking with Steve Bliss, a renowned probate attorney here in Moreno Valley. Steve, thank you so much for joining us.
Understanding Trusts
Steve, many people are unfamiliar with trusts and how they can benefit them. Could you explain what a trust is and why someone might consider setting one up?
A trust is a legal entity that holds assets for the benefit of specific individuals or organizations. Think of it as a container for your belongings – money, property, investments – with specific instructions on how they should be managed and distributed.
Choosing the Right Trust
There are many different types of trusts, each with its own purpose. Which type would you recommend most often to your clients?
I frequently advise my clients on Revocable Living Trusts. They offer a great deal of flexibility and control.
A Revocable Living Trust allows the individual who creates it (the grantor) to manage and change the trust during their lifetime. Consequently, they can add or remove assets, change beneficiaries, or even dissolve the trust entirely if their circumstances change. Moreover, these trusts are designed to avoid probate, a time-consuming and often costly legal process that occurs after someone passes away.
The privacy aspect is also appealing to many. Unlike wills, which become public record during probate, the terms of a Revocable Living Trust remain confidential. This can be important for individuals who value their privacy or have complex family dynamics they wish to keep private.
Avoiding Potential Pitfalls
Steve, are there any common mistakes people make when setting up a trust?
One mistake I see occasionally is not updating the trust regularly. Life circumstances change – births, deaths, marriages, divorces – and it’s crucial to ensure the trust reflects those changes. I had a client who established a trust years ago naming his adult children as beneficiaries. Unfortunately, he forgot to update it after one of his children passed away, leading to complications and potential unintended consequences.
Another issue is not funding the trust properly. Simply creating a trust document isn’t enough; you need to transfer ownership of your assets into the trust for it to be effective.
Testimonials
“Steve Bliss made a complex process seem straightforward. He was patient, explained everything clearly, and always had my best interests at heart.” – Maria S.
“Moreno Valley Probate Law provided exceptional service during a difficult time. They were compassionate, professional, and truly went above and beyond to support me and my family.” – John B.
Peace of Mind for the Future
Steve Bliss is a dedicated advocate for his clients, helping them navigate complex legal matters with expertise and compassion. Contact Steve Bliss or Moreno Valley Probate Law today to start planning for your future and gain peace of mind knowing your loved ones are protected.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “Can I have more than one trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
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