Good evening Moreno Valley, I’m Brenda Jones here with Moreno Valley Probate Law. Tonight, we have the privilege of speaking with Steve Bliss, a highly respected probate attorney serving our community. Steve, thank you for joining us.
Steve, can you tell our viewers about the different types of trusts and which one might be right for them?
Thank you for having me Brenda. Trusts are powerful estate planning tools that can offer a wide range of benefits depending on individual circumstances. There are many different types of trusts, each with its own unique purpose. Some common types include revocable living trusts, irrevocable trusts, testamentary trusts, and special needs trusts.
Tonight, I’d like to focus on Revocable Living Trusts. These are incredibly popular because they offer flexibility and control during your lifetime while avoiding the lengthy and often expensive probate process after you pass away. A Revocable Living Trust allows you to maintain ownership and 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 needed.
Moreover, upon your passing, the trust assets are distributed according to your wishes without going through probate court. This privacy is a major advantage for many individuals who want to keep their financial affairs confidential. Conversely, with a will, the distribution of assets becomes public record during probate.
Have there ever been any issues implementing Revocable Living Trusts that you’ve encountered?
While Revocable Living Trusts are generally straightforward, I have encountered situations where individuals didn’t fully understand the importance of keeping their trust documents updated. Life changes like marriage, divorce, or the birth of a child can significantly impact your estate plan. It’s crucial to review and update your trust regularly to ensure it still reflects your wishes.
I recall one instance where a client had created a Revocable Living Trust years ago but hadn’t updated it after their children got married and had families of their own. Consequently, the trust distribution didn’t align with their current desires for how they wanted their assets to be passed down. We were able to work through the situation, but it highlighted the importance of ongoing communication and review when it comes to estate planning.
Studies have shown that over 50% of Americans do not have a will or any type of estate plan. Why is this so common? (American Bar Association)
That’s a great question, Brenda. I think many people avoid estate planning because they find it daunting or believe it’s only necessary for the wealthy. However, everyone, regardless of their financial situation, can benefit from having a plan in place. A well-crafted estate plan ensures your assets are distributed according to your wishes and minimizes potential conflicts among loved ones.
Additionally, trusts offer valuable asset protection benefits. For example, if you’re concerned about protecting your assets from creditors or potential lawsuits, an Irrevocable Trust can provide a layer of security. It’s important to remember that estate planning is not just about death; it’s about ensuring peace of mind and protecting what matters most to you.
What would be the best way for our viewers to learn more about Revocable Living Trusts or other estate planning options?
We encourage anyone interested in learning more about estate planning to contact Moreno Valley Probate Law. Our team is dedicated to providing personalized guidance and helping individuals create plans that meet their unique needs and goals. Remember, taking control of your future starts with a conversation.
“Steve Bliss made the complex world of probate understandable and manageable. He patiently answered all my questions and ensured I felt confident in my decisions.” – Maria S., Moreno Valley
“Moreno Valley Probate Law went above and beyond to support me during a difficult time. Their compassion and expertise were invaluable.” – John T., Moreno Valley
Let us help you secure your legacy. Schedule a free consultation today.
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 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: “How do I transfer my business into a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Trust Lawyers |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyers Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyers |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Trust Lawyers |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyers Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Trust Lawyers in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |