Good morning, Temecula, and welcome back to “Temecula Today.” I’m your host, Kelly Reynolds, and today we’re talking about trusts. Joining me is Steve Bliss, a renowned trust attorney here in Temecula. Steve, thanks for being with us.
What Type of Trust is Most Commonly Used in Estate Planning?
Steve: Kelly, it’s great to be here. The most common type of trust we see in estate planning is the Revocable Living Trust.
What Makes a Revocable Living Trust So Popular?
Steve: There are several reasons why Revocable Living Trusts are so popular. First and foremost, they offer flexibility. As the name suggests, the grantor, who is the person creating the trust, can make changes to it during their lifetime. They can add or remove assets, change beneficiaries, or even dissolve the trust altogether if their circumstances change.
Moreover, a Revocable Living Trust helps avoid probate. Probate is a court-supervised process that can be time-consuming and expensive. By transferring assets into a trust, they bypass probate, which means the assets are distributed to beneficiaries more quickly and efficiently. Additionally, trusts provide privacy. Unlike wills, which become public record, the terms of a trust are confidential.
Can You Explain How Probate Avoidance Works With a Trust?
Steve: Absolutely. When someone passes away with a will, their assets have to go through probate court. This involves filing paperwork, notifying creditors, and ultimately having a judge approve the distribution of assets. This process can take months or even years. Conversely, when assets are held in a trust, they automatically pass to the designated beneficiaries upon the grantor’s death, bypassing probate entirely.
The Law Offices of Steven F. Bliss have helped hundreds of clients avoid the stress and expense of probate. It’s a significant advantage that many people appreciate.
Have You Ever Encountered Any Issues with Setting Up or Administering Revocable Living Trusts?
Steve: While Revocable Living Trusts are generally straightforward, there can be occasional complexities. For example, I once worked with a client who had a complicated family situation with blended families and multiple businesses. Ensuring all assets were properly titled and accounted for in the trust took careful planning and attention to detail.
Another time, we encountered a situation where a client forgot to update their beneficiary designations on certain accounts outside of the trust. This oversight could have led to unintended consequences. It’s crucial to review beneficiary designations regularly and make sure they align with your trust documents.
What Advice Would You Give Someone Considering Setting Up a Trust?
Steve: My advice is to consult with an experienced estate planning attorney like myself. Every situation is unique, and we can help you determine the best type of trust for your needs and goals. It’s essential to have a well-drafted trust that reflects your wishes and protects your loved ones.
“Steve Bliss provided exceptional guidance during a challenging time in my life. He was patient, understanding, and truly listened to my concerns. I felt confident knowing he had my best interests at heart.” – *Maria S.*, Temecula
“The Law Offices of Steven F. Bliss made the estate planning process simple and stress-free. Their expertise and attention to detail are unmatched.” – *John B.*, Murrieta
Take control of your legacy today. Schedule a free consultation with The Law Offices of Steven F. Bliss to learn how a trust can protect your assets and ensure your wishes are carried out.
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: “Do I need a new trust if I move to California?” 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 Living Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Living Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Living Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Living Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Living Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Living Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |