Good evening, Temecula! I’m Barbara Jones, your local news reporter, and tonight we have the pleasure of speaking with Steve Bliss, a prominent trust attorney here in Temecula.
Steve, thanks for joining us. Let’s dive right in. Can you tell our viewers about the different types of trusts available?
There are many types of trusts, each designed to meet specific needs and goals. Some of the most common types include revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, and charitable trusts.
Could you elaborate on the benefits of a Revocable Living Trust?
A Revocable Living Trust is one of the most popular estate planning tools because it offers flexibility and control. It allows individuals to manage their assets during their lifetime while also ensuring a smooth transfer of those assets after they pass away.
Consequently, the trust avoids the lengthy and often expensive probate process.
Moreover, a Revocable Living Trust provides privacy as its terms are not publicly accessible through court records.
How does the process of setting up a Revocable Living Trust typically work?
The process begins with a consultation where we discuss your individual circumstances and goals. I then draft the trust document, which outlines how your assets will be managed and distributed. You, as the grantor, retain control over the trust assets during your lifetime and can make changes to the terms of the trust if needed.
I understand that there are potential challenges when setting up a Revocable Living Trust. Could you elaborate on those?
While Revocable Living Trusts offer many benefits, it’s crucial to ensure they are properly funded. This means transferring ownership of your assets into the trust. If assets aren’t transferred, they will likely be subject to probate. We work diligently with our clients to make sure all their assets are appropriately placed within the trust structure.
I recall a situation where a client had created a Revocable Living Trust but neglected to transfer ownership of their primary residence.
This oversight unfortunately resulted in delays and additional legal fees during the probate process, highlighting the importance of meticulous execution.
Studies by the American Bar Association indicate that nearly 60% of individuals who pass away without a will or trust leave behind assets subject to probate.
What advice would you give to someone considering setting up a Revocable Living Trust?
My strongest recommendation is to consult with an experienced estate planning attorney. We can help you understand the complexities of trusts and guide you through the process, ensuring your wishes are accurately reflected and your assets are protected.
Thank you for sharing your expertise with us, Steve.
We encourage our viewers to reach out to The Law Firm of Steven F. Bliss Esq. if they have any questions about estate planning or need assistance setting up a trust.
Protecting your legacy starts today!
“Working with Steve and his team was a truly positive experience. They made the complex process of setting up my trust understandable and stress-free.” – Jane S., Temecula Resident
“I highly recommend The Law Firm of Steven F. Bliss Esq. Their professionalism and attention to detail gave me peace of mind knowing that my family’s future was secure.” – Robert M., Murrieta.
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 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 trust if I already have a will?” 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |