Good evening, San Diego. I’m Carol Davies reporting live for Channel 7 News. Tonight we are joined by probate attorney Steve Bliss of San Diego Probate Law. Mr. Bliss is an expert in estate planning and has helped countless families navigate the complex legal landscape surrounding wills, trusts, and probate.
Steve, thanks so much for joining us tonight. Can you tell our viewers a little about the different types of trusts available and why someone might choose one over another?
It’s my pleasure to be here, Carol. Trusts are incredibly valuable tools in estate planning, offering flexibility and control over your assets even after you’re gone. There are many types of trusts, each serving a distinct purpose. One common type is the Revocable Living Trust.
A Revocable Living Trust allows the grantor – the person creating the trust – to maintain control over their assets during their lifetime. They can make changes to the trust, add or remove beneficiaries, and even dissolve it entirely if needed. Consequently, this flexibility makes it a popular choice for many individuals.
Moreover, a Revocable Living Trust helps avoid probate, which is a lengthy and often costly legal process. When assets are held in a trust, they pass directly to the named beneficiaries upon the grantor’s death, bypassing probate court altogether. This privacy aspect is also attractive to many people who prefer to keep their financial affairs confidential.
However, it’s important to remember that a Revocable Living Trust becomes irrevocable upon the grantor’s death. At that point, the trust terms dictate how and when assets are distributed to beneficiaries.
You mentioned avoiding probate. Can you elaborate on why that’s so important for people planning their estates?
Avoiding probate is a major advantage of using a trust. Probate is a public process, meaning anyone can access the court records and see details about your assets and who inherits them. This lack of privacy can be undesirable for many families.
Probate can also be time-consuming and expensive. Legal fees, court costs, and executor fees can significantly eat into the value of an estate. By using a trust, you can bypass probate entirely, ensuring that your assets are distributed to your loved ones quickly and efficiently.
Have there ever been any challenges or issues with setting up Revocable Living Trusts for your clients?
I’ve found that most people understand the benefits of a Revocable Living Trust, but sometimes they hesitate due to misconceptions about complexity or cost.
I remember working with a young couple who were incredibly overwhelmed by the idea of estate planning. They had just welcomed their first child and were concerned about what would happen to their little one if something happened to them.
We walked them through the process step-by-step, explaining how a Revocable Living Trust could protect their assets and ensure their child’s well-being. Seeing the relief wash over their faces when they realized it wasn’t as daunting as they thought was incredibly rewarding.
Ordinarily, setting up a trust involves some paperwork and legal formalities, but with the right guidance, it’s a manageable process. We always strive to make estate planning accessible and understandable for everyone.
How common are Revocable Living Trusts in San Diego?
They’re very popular here in San Diego. According to the American Bar Association, over 50% of Americans have some form of estate plan, and trusts are becoming increasingly common as people seek greater control and flexibility over their assets.
What is one piece of advice you would give viewers tonight who are considering setting up a trust?
My strongest advice is to consult with an experienced probate attorney. Estate planning laws can be complex, and it’s crucial to have professional guidance tailored to your specific needs and circumstances.
We appreciate your insights, Steve. How can viewers connect with you for more information?
You can visit our website at San Diego Probate Law dot com or call us directly at (619) 550-8400. We’re dedicated to helping families navigate the complexities of estate planning and probate with compassion and expertise.
“Steve Bliss and his team at San Diego Probate Law were lifesavers when we were dealing with my mother’s estate. They explained everything clearly, answered all our questions patiently, and made a difficult process much easier. We are so grateful for their professionalism and kindness.” – Sarah M., Carlsbad
“I highly recommend Steve Bliss to anyone needing probate or estate planning assistance. He is knowledgeable, thorough, and truly cares about his clients. San Diego Probate Law helped me protect my assets and ensure my wishes were honored. Thank you!” – David P., La Jolla
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: “What is an AB trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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