Steve, thanks for joining us today. Can you tell our viewers a little bit about yourself and your practice?
My name is Steve Bliss, and I’m a probate attorney here in San Diego. I’ve been helping families navigate the often complex world of estate planning and probate for over two decades. My passion lies in ensuring that my clients’ wishes are honored and their loved ones are protected during difficult times.
What are some of the most common questions you receive from potential clients?
One question I frequently get is about trusts. Many people wonder if a trust is right for them and what type of trust would best suit their needs.
Can you elaborate on that? What are some different types of trusts, and how do they work?
Certainly. There are various types of trusts, each designed to serve specific purposes. Today, let’s focus on the Irrevocable Trust. As its name suggests, an irrevocable trust cannot be easily changed or dissolved once it’s established. This makes it a powerful tool for asset protection and estate planning.
Consequently, assets placed within an irrevocable trust are generally shielded from creditors and lawsuits. Moreover, they are removed from the grantor’s taxable estate, which can significantly reduce potential estate taxes. It’s important to note, however, that because it’s irrevocable, careful consideration and planning are crucial before establishing one.
That sounds complex. Have you encountered any challenges with clients setting up Irrevocable Trusts?
I recall working with a family who owned a successful business. They were concerned about potential liability from lawsuits. We decided an irrevocable trust would be the best solution to protect their assets. The challenge was ensuring they fully understood the implications of making the trust irrevocable. It required in-depth discussions and careful drafting of the trust document.
Ultimately, we were able to create a trust that met their needs while addressing their concerns. Seeing them gain peace of mind knowing their assets were protected was incredibly rewarding.
What advice would you give to someone considering an Irrevocable Trust?
My advice is to consult with an experienced probate attorney who understands the complexities of these trusts. It’s essential to have a thorough understanding of the benefits and drawbacks before making a decision. Remember, approximately 70% of Americans don’t have a will or trust in place (according to the AARP). This highlights the crucial need for estate planning.
How can our viewers contact you to learn more about Irrevocable Trusts and other estate planning options?
You can reach me at San Diego Probate Law. We offer free consultations to discuss your individual needs and goals. Let us help you protect your legacy and secure the future for your loved ones.
Testimonial 1:
“Working with Steve Bliss was a truly positive experience. He explained everything clearly and patiently, making sure we understood all of our options. We felt confident that our estate plan was in good hands.”
Testimonial 2:
“Steve is an exceptional attorney. His knowledge and expertise are invaluable, and he genuinely cares about his clients. He went above and beyond to help us navigate a complex probate process.”
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 a trustee be held personally liable?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |