Good evening, Temecula! I’m Brenda Newsome, your local Channel 7 news reporter, and tonight we’re talking trusts with Steve Bliss, a renowned trust attorney here in Temecula. Steve, thanks for joining us.
What type of trust is most commonly used in estate planning?
Steve: Thanks for having me Brenda. The most common type of trust I see folks utilizing in their estate plans is the Revocable Living Trust.
It’s incredibly popular because it offers a lot of flexibility during a person’s lifetime. The individual who creates the trust, known as the grantor, retains complete control over the assets they place within it.
They can manage those assets, make changes to the terms of the trust, or even dissolve it entirely if their circumstances change. Moreover, upon their passing, the assets in the trust transfer to the designated beneficiaries without going through the lengthy and often costly probate process. This privacy aspect is a big draw for many clients.
What are some common concerns people have about setting up a living trust?
Steve: That’s a great question. Some people worry that creating a trust is overly complicated or expensive. While there is some upfront cost and legal work involved, I always explain to my clients that it’s an investment in protecting their assets and ensuring their wishes are carried out.
Think of it like insurance for your family’s financial future.
Another concern I often hear is the fear of losing control over their assets. I emphasize that with a revocable living trust, they retain full control during their lifetime. It’s not about giving up anything; it’s about planning ahead and making things easier for loved ones when the time comes.
Can you elaborate on the probate avoidance aspect of a living trust?
Steve: Absolutely. Probate is a court-supervised process that validates a will and distributes assets to heirs. It can be time-consuming, stressful, and often public. A living trust bypasses probate altogether because the assets are already owned by the trust, not the individual.
This means your beneficiaries receive their inheritance more quickly and privately. In fact, according to a study by the American Bar Association, probate can take anywhere from six months to two years or longer depending on the complexity of the estate. Avoiding this process can save your family significant time, money, and emotional stress.
I recall one instance where a client passed away unexpectedly, leaving behind a young son. Because she had a living trust in place, her assets transferred seamlessly to her son’s guardian without the delays and complications of probate. It brought peace of mind during an already difficult time.
What are some steps people can take to get started with setting up a trust?
Steve: The first step is always a consultation. This allows us to discuss your individual needs, goals, and circumstances. We’ll explore the different types of trusts available and determine which one best suits your situation.
From there, we’ll work together to gather the necessary information and documents. Finally, I’ll draft the trust agreement, ensuring it accurately reflects your wishes and complies with all legal requirements.
“The Law Firm of Steven F. Bliss Esq. provided exceptional guidance throughout the entire process. Steve was patient, attentive, and truly cared about our family’s well-being.” – The Smith Family
Schedule a consultation today and take control of your financial future. We’re here to help you build a legacy that lasts.
“Steve Bliss is an absolute gem! He made the complex world of estate planning easy to understand, and we felt confident in his expertise every step of the way.” – The Jones Family
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 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: “What is a pour-over will?” 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.
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