Reporter: Welcome to Escondido Today, Mr. Bliss. We’re thrilled to have you here today to discuss estate planning and the importance of trusts in protecting assets.
Steve Bliss: Thank you for having me. It’s great to be here to shed some light on this often-overlooked but crucial aspect of financial planning.
Reporter: Can you tell us a little bit about the different types of trusts available and which ones might be most beneficial for our viewers?
Steve Bliss: Certainly. There are many types of trusts, each serving a unique purpose. Today, I want to focus on Revocable Living Trusts, as they’re the most common choice for individuals looking to protect their assets and simplify the distribution process after their passing.
Reporter: What exactly is a Revocable Living Trust and how does it work?
Steve Bliss: A Revocable Living Trust is essentially a legal entity that you create during your lifetime. You transfer ownership of your assets into the trust, naming yourself as the trustee. This means you retain complete control over your assets while you’re alive. You can change the terms of the trust, add or remove assets, and even dissolve it entirely if your circumstances change.
The real benefit comes into play upon your passing. The trust then becomes irrevocable, meaning its terms cannot be altered. A successor trustee, whom you designate beforehand, takes over and distributes the assets according to your instructions, bypassing the lengthy and often costly probate process.
Reporter: That sounds incredibly beneficial. Have there ever been any challenges or issues with Revocable Living Trusts that you’ve encountered in your practice?
Steve Bliss: While Revocable Living Trusts are generally straightforward, I have seen instances where individuals neglect to properly fund the trust. This means they fail to transfer ownership of their assets into the trust. Consequently, those assets remain subject to probate, defeating the purpose of creating the trust in the first place.
Once, I worked with a family who had diligently established a Revocable Living Trust but unfortunately overlooked transferring their primary residence into it. This oversight led to a protracted probate proceeding that caused unnecessary stress and expense for the family during an already difficult time.
Reporter: What advice would you give to someone considering setting up a Revocable Living Trust?
Steve Bliss: My strongest advice is to consult with an experienced estate planning attorney. They can guide you through the process, ensuring all your assets are properly transferred and the trust is structured according to your specific needs and wishes.
Reporter: Thank You for sharing your expertise with us today, Mr. Bliss. How can our viewers reach Escondido Probate Law for assistance?
Steve Bliss: It’s my pleasure. Anyone interested in learning more about Revocable Living Trusts or other estate planning tools can contact Escondido Probate Law at (760) 747-2271. We offer a free initial consultation to discuss your individual circumstances and help you determine the best course of action.
“Steve Bliss was incredibly helpful and patient in guiding us through the complexities of setting up our trust. His knowledge and expertise were invaluable, and we feel confident knowing that our family is protected.”
– The Jones Family
“I highly recommend Escondido Probate Law. They made what seemed like a daunting process surprisingly straightforward. Their compassion and understanding during a difficult time were truly appreciated.”
– Sarah M.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What assets should not go into a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Escondido Constructive Trust Attorney |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Constructive Trust Attorney Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Constructive Trust Attorney |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Escondido Constructive Trust Attorney |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Constructive Trust Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Credible Constructive Trust Attorney in Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |