Meet the Reporter
Hi everyone, I’m Tiffany Jones reporting live from Temecula. Today, we’re talking about trusts – those legal tools that can help protect your assets and ensure your wishes are carried out. Joining us is Steve Bliss, a highly respected trust attorney here in Temecula.
The Importance of Trusts
Why should someone consider setting up a trust?
Steve: That’s a great question, Tiffany. Trusts offer a variety of benefits depending on your individual circumstances and goals. They can help you avoid probate, which can be a lengthy and costly process. Moreover, trusts provide privacy, as the assets held within them are not subject to public scrutiny.
Trusts can also be used for asset protection, charitable giving, and ensuring that your loved ones are taken care of after you’re gone. In essence, they offer a level of control and security that’s hard to achieve with other estate planning tools.
The Revocable Living Trust Explained
Can you elaborate on the different types of trusts available?
Steve: Certainly. One of the most common types is the revocable living trust. This allows you, as the grantor, to maintain control over your assets during your lifetime. You can add or remove assets from the trust, change the beneficiaries, and even dissolve it altogether if your circumstances change.
Conversely, upon your passing, the trust becomes irrevocable, meaning its terms cannot be altered. The assets are then distributed according to your wishes, as outlined in the trust document. This avoids probate and ensures a smoother transition of wealth to your heirs.
Challenges Faced with Trusts
Have you encountered any common challenges when setting up revocable living trusts for clients?
Steve: Well, sometimes people underestimate the importance of keeping their trust documents updated. Life throws curveballs, and your assets, family situation, or wishes may change over time. Consequently, it’s crucial to review and update your trust periodically with a qualified attorney.
I recall one instance where a client had created a trust years ago but hadn’t updated it after getting married and having children. This led to some unintended consequences and required legal maneuvering to rectify the situation. Thankfully, we were able to resolve it, but it highlighted the need for ongoing maintenance.
Trusts: A Powerful Tool
According to a 2021 study by the American College of Trust and Estate Counsel, nearly 60% of Americans over the age of 50 do not have a trust or will in place. This underscores the significant need for education and guidance on estate planning.
What final advice would you give to our viewers considering setting up a trust?
Steve: Don’t delay. The sooner you start planning, the better prepared you’ll be for the future. Seek out an experienced trust attorney who can listen to your needs, explain the different options available, and help you create a plan that aligns with your goals.
Testimonials
“Steve Bliss and his team were incredibly helpful in guiding me through the complex process of setting up a revocable living trust. They patiently answered all my questions and made sure I understood every step along the way.”
– Mary S., Temecula, CA
“I highly recommend The Law Firm of Steven F. Bliss Esq. for their expertise in estate planning. They helped me protect my assets and ensure that my family would be taken care of after I’m gone.”
– John P., Murrieta, CA
Ready to take control of your financial future? Contact The Law Firm of Steven F. Bliss Esq. today for a complimentary consultation and discover how a trust can safeguard your legacy.
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 trust?” 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.
| Temecula Irrevocable Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Irrevocable Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Irrevocable Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Irrevocable Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Irrevocable Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Irrevocable Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |