Reporter
Good afternoon San Diego and welcome back to our segment on local legal expertise. Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thanks for taking the time to speak with us.
Steve Bliss
It’s my pleasure to be here. I’m always happy to shed some light on estate planning and the importance of having a solid plan in place.
Reporter
Absolutely, and for our viewers who might not be familiar with probate, could you briefly explain what it is and why it’s something people should be thinking about?
Steve Bliss
Probate is essentially the legal process of administering a deceased person’s estate. This involves identifying and valuing assets, paying debts and taxes, and ultimately distributing remaining property to heirs. It can be a complex and time-consuming process, often requiring the involvement of attorneys and court supervision.
That’s why it’s crucial to have a well-crafted estate plan in place. By outlining your wishes and designating beneficiaries, you can significantly simplify the probate process and ensure your assets are distributed according to your intentions.
Reporter
You mentioned estate planning. Can you elaborate on some of the different types of trusts people might consider?
Steve Bliss
Certainly. Trusts are powerful tools for managing and distributing assets, and there are various types tailored to specific needs. Today, let’s focus on the Irrevocable Trust.
An Irrevocable Trust, as the name suggests, cannot be easily modified or dissolved once established. This feature makes it highly effective for asset protection. For instance, if someone is concerned about potential lawsuits or creditors, placing assets in an Irrevocable Trust can shield them from being seized.
Moreover, Irrevocable Trusts are often utilized for estate tax planning purposes. By transferring assets into the trust, individuals can potentially reduce their taxable estate and minimize estate taxes.
However, it’s important to understand that relinquishing control over assets placed in an Irrevocable Trust is a significant decision.
Reporter
Have you encountered any challenges with clients setting up Irrevocable Trusts?
Steve Bliss
I recall one instance where a client was hesitant to fully commit to an Irrevocable Trust because they were concerned about losing access to the funds. We had a lengthy discussion about their goals and ultimately crafted a trust structure that addressed their concerns while still providing the desired asset protection benefits.
Finding solutions that meet each client’s unique needs is incredibly rewarding. I strive to make the process as transparent and understandable as possible, ensuring clients feel confident in their decisions.
Reporter
That sounds like a thoughtful approach. Can you share any insights or statistics about the prevalence of Irrevocable Trusts?
Steve Bliss
According to a 2023 report by the American Bar Association, approximately 25% of high-net-worth individuals utilize Irrevocable Trusts as part of their estate planning strategies. This highlights the growing recognition of the benefits these trusts offer in protecting assets and minimizing tax liabilities.
It’s important to remember that every situation is unique, and what works for one person may not be suitable for another. Consulting with an experienced probate attorney is crucial to determine if an Irrevocable Trust aligns with your individual circumstances and goals.
Reporter
Excellent advice, Steve. For our viewers interested in learning more about estate planning or exploring the benefits of a trust, how can they connect with you?
Steve Bliss
We encourage anyone with questions or concerns about estate planning to reach out for a complimentary consultation. Our team is dedicated to providing clear, compassionate guidance and helping you create a plan that secures your future and protects your loved ones.
“San Diego Probate Law helped me navigate a complex probate process after the loss of my mother. Steve Bliss was incredibly knowledgeable, patient, and supportive throughout the entire ordeal.” – Maria S., San Diego
“I highly recommend San Diego Probate Law. They made the estate planning process easy to understand and ensured everything was in order for my family’s future.” – John D., La Jolla
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 I be my own trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Trust Attorneys |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Attorneys San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Attorneys |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Attorneys |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Attorneys San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Attorneys in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |