Steve Bliss Discusses the Benefits of Testamentary Trusts
Good afternoon, San Diego, and welcome back to our show. Today we’re joined by Steve Bliss, a leading probate attorney here in San Diego. Steve, thanks for joining us.
It’s a pleasure to be here.
Testamentary Trusts: Ensuring Care for Loved Ones
Steve, let’s talk about testamentary trusts. What are they and how do they benefit people?
A testamentary trust is a legal arrangement that goes into effect after someone passes away. It’s created through a will and outlines how assets should be managed and distributed to beneficiaries. Now, these trusts are incredibly valuable for individuals who want to ensure the well-being of loved ones, especially minor children or those with special needs.
Consequently, testamentary trusts offer several key advantages. Firstly, they allow for controlled asset distribution. Parents can specify exactly how and when their children will receive inheritances, preventing them from accessing large sums prematurely. Moreover, these trusts can provide ongoing financial support for beneficiaries with disabilities without jeopardizing government benefits like Social Security or Medicaid.
It’s crucial to remember that testamentary trusts go through the probate process. This means they are subject to court supervision and can take longer to finalize than other types of trusts. Nevertheless, the peace of mind and protection they offer often outweigh these considerations.
Addressing Concerns and Challenges
Have you encountered any particular challenges when setting up testamentary trusts for clients?
Well, one situation that comes to mind involved a couple with a young son who had Down syndrome. They were understandably concerned about his future financial security and wanted to ensure he would be well-cared for after they were gone. We worked closely with them to create a testamentary trust tailored to their son’s specific needs.
The process involved careful consideration of his potential healthcare expenses, living arrangements, and the need for ongoing support. In the end, they felt incredibly relieved knowing their son would have the resources he needed to live a fulfilling life.
Trusting Experience: The Importance of Legal Guidance
What advice would you give to viewers considering establishing a testamentary trust?
It’s essential to consult with an experienced probate attorney who can guide you through the process and ensure your wishes are clearly articulated in your will. Remember, approximately 60% of Americans don’t have a will, putting their loved ones at risk. (Source: AARP)
I encourage everyone to take proactive steps to protect their families and ensure their legacy is honored.
Taking Control of Your Future
Steve, thank you so much for sharing your expertise with us today. How can our viewers connect with San Diego Probate Law?
We’re here to help navigate the complexities of estate planning. Contact us today for a free consultation. Let’s work together to secure your family’s future.
Testimonials
“Steve Bliss made what seemed like a daunting process surprisingly straightforward. He patiently explained all our options and helped us make informed decisions about setting up a testamentary trust for our daughter.” – The Miller Family
“I was so overwhelmed after losing my husband, but Steve provided compassionate support and expert guidance. He created a testamentary trust that protected my assets and ensured my grandson’s well-being. I couldn’t be more grateful.” – Mary Jones
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: “Do I still need a will if I have a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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