Focusing on Protecting Your Legacy: An Interview with Steve Bliss
Today we’re speaking with Steve Bliss, a respected probate attorney in San Diego, about the complex world of estate planning. Steve, thanks for joining us.
Understanding Testamentary Trusts
Steve, many people are unfamiliar with the different types of trusts available. Can you shed some light on testamentary trusts and when they might be beneficial?
Certainly. A testamentary trust is created through a will and only comes into effect after the grantor’s passing. Unlike living trusts which avoid probate, testamentary trusts go through the probate process. Nevertheless, they are valuable tools for specific situations.
One common use for testamentary trusts is to provide for minor children or beneficiaries with special needs. Consequently, assets can be managed by a trusted individual or institution until the beneficiary reaches a certain age or demonstrates the ability to handle their finances responsibly. Testamentary trusts offer peace of mind knowing that loved ones will be cared for even after you’re gone.
Moreover, testamentary trusts can help protect assets from creditors or potential lawsuits. The trust assets are held and managed by the trustee, shielding them from claims against the beneficiary directly.
I recently worked with a family who lost their son in an accident. They wanted to ensure that his inheritance would be used for his daughter’s education and future needs. We established a testamentary trust, naming a close family friend as trustee. This gave them comfort knowing their granddaughter would be financially secure.
Challenges and Considerations
Are there any potential downsides or challenges associated with testamentary trusts?
As with any legal tool, there are considerations. Testamentary trusts must go through probate, which can be a time-consuming and costly process. Ordinarily, probate takes several months to complete, depending on the complexity of the estate. Additionally, since the trust is created through a will, it’s essential that the will is properly drafted and executed to avoid potential legal challenges.
I recall a case where a will lacked clarity regarding the beneficiary of a testamentary trust. This resulted in a lengthy court battle among family members, delaying the distribution of assets and adding significant stress during an already difficult time.
The Importance of Professional Guidance
What advice would you give to someone considering setting up a testamentary trust?
Consulting with an experienced probate attorney is crucial. An attorney can help determine if a testamentary trust aligns with your estate planning goals, draft the necessary documents accurately, and guide you through the legal process.
Taking Control of Your Future
Steve, thank you for sharing your expertise on testamentary trusts. How can our viewers connect with San Diego Probate Law to learn more?
We are passionate about helping individuals and families protect their legacies. Our team at San Diego Probate Law offers free consultations to discuss your specific needs and answer any questions you may have. We strive to make the estate planning process as smooth and stress-free as possible.
“San Diego Probate Law made a difficult time so much easier. They were compassionate, knowledgeable, and always available to answer our questions.” – Sarah M.
“I highly recommend Steve Bliss and his team. They helped me navigate complex probate issues with professionalism and clarity.” – John D.
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 my children be trustees?” 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 Asset Protection Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Asset Protection Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Asset Protection Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |