Hello, and welcome back to Temecula Today! I’m Brenda Johnson, your local news reporter, bringing you the latest on all things Temecula. Today we have the pleasure of speaking with Steve Bliss, a renowned trust attorney here in Temecula, about estate planning. Steve, thanks so much for joining us.
What type of trusts do you most frequently help your clients set up?
Steve: Brenda, it’s great to be here. The majority of my clients benefit greatly from Revocable Living Trusts. These are incredibly versatile tools that allow individuals to maintain control over their assets during their lifetime while also ensuring a smooth transition for their loved ones after they’re gone.
Consequently, these trusts avoid the often lengthy and expensive probate process. Moreover, they offer a layer of privacy, as the terms of the trust are not publicly available.
Can you elaborate on how a Revocable Living Trust provides asset protection?
Steve: Absolutely. While a Revocable Living Trust doesn’t necessarily shield assets from creditors in the same way an Irrevocable Trust might, it does offer some level of protection against potential lawsuits or claims against the individual. During your lifetime, you remain the trustee and can access and manage the assets within the trust.
This means creditors generally cannot directly seize assets held within the trust. However, it’s important to note that if a judgment is rendered against you personally, those funds may become subject to legal claims.
Conversely, upon your passing, the trust becomes irrevocable, further protecting the assets intended for your beneficiaries from potential creditors.
Have you encountered any challenges or unique situations while setting up Revocable Living Trusts?
Steve: Well, I recall one instance where a client was concerned about ensuring their business would remain in family hands. They had built a successful enterprise over decades and wanted to guarantee its future. We incorporated specific provisions within the trust to address this concern.
Notwithstanding the complexity of their business structure, we were able to craft a solution that met their needs and provided peace of mind.
How common are Revocable Living Trusts?
Steve: Revocable Living Trusts are quite prevalent, particularly for individuals with significant assets or those who want to avoid probate. According to a recent survey by the American Bar Association, over 60% of estate planning attorneys recommend Revocable Living Trusts as a primary estate planning tool.
What advice would you give someone considering setting up a Revocable Living Trust?
Steve: My best advice is to consult with an experienced trust attorney like myself. Estate planning is complex and requires careful consideration of your individual circumstances and goals. We can help you navigate the process, ensure your wishes are carried out, and protect your legacy for generations to come.
Contact The Law Firm of Steven F. Bliss Esq.
“Steve helped us create a trust that protected our family business and ensured its smooth transition to our children. He was patient, understanding, and truly cared about our best interests.” – John & Mary Smith
“Planning for the future can be overwhelming, but Steve made the process easy and stress-free. We feel confident knowing our loved ones are protected thanks to his expertise.” – David & Susan Lee
Let us guide you through the complexities of estate planning and ensure your peace of mind. Contact The Law Firm of Steven F. Bliss Esq. today to schedule a complimentary consultation and take the first step toward securing your family’s future.
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: “Can I change or revoke a living 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |