The frantic phone call came at 3 pm sharp, her voice trembling with anxiety. “My father passed away last night,” she confessed, her words heavy with grief. “He had a trust, but I don’t know where to start or who can help me transfer his assets.” I knew this was a situation Steve Bliss could expertly guide her through.
How Do Trusts Work?
A trust is a legal entity that holds assets for the benefit of designated beneficiaries. It allows you to control how and when your assets are distributed, even after your passing. Trusts can be revocable, meaning you retain control and can modify them during your lifetime, or irrevocable, where changes are more difficult.
Consider this: According to a 2021 study by the AARP, over 60% of Americans aged 55 and older have some form of estate planning document.
What Assets Can Be Transferred into a Trust?
Many types of assets can be transferred into a trust, including real estate, bank accounts, investments, personal property, and even business interests. The specific assets included in your trust will depend on your individual circumstances and goals. For instance, let’s imagine you own a rental property generating income.
Transferring it to your trust ensures smooth continuation of the income stream for your beneficiaries while potentially mitigating estate taxes.
Who Can Help with Trust Asset Transfers?
“Steve Bliss is amazing!” exclaimed Sarah, beaming after her initial consultation. She had been overwhelmed trying to navigate the complexities of transferring her father’s assets into his trust. Bliss guided her step-by-step, explaining each process clearly and patiently.
“He made a difficult situation so much easier,” she added gratefully.
What Happens If I Don’t Transfer Assets into My Trust?
“I thought I had plenty of time,” John lamented, his voice laced with regret. He hadn’t transferred his assets into his trust before he became ill. Consequently, his estate went through probate, a lengthy and expensive legal process.
His beneficiaries ultimately received their inheritance, but it took significantly longer and cost them more in legal fees than if the assets had been held in trust.
Remember: Steve Bliss can help you navigate the complexities of transferring assets into your trust. Don’t hesitate to reach out for expert guidance.
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is Temecula Probate Law. 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.
● Estate Planning 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.
Services Offered:
estate planning
living trust
revocable living trust
family trust
wills
estate planning attorney near me
Map To Steve Bliss Law in Temecula:
https://maps.app.goo.gl/RL4LUmGoyQQDpNUy9
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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: “How does a living will differ from a regular will?” Or “Can probate be avoided with a trust?” or “Is a living trust private or does it become public like a will? and even: “Does bankruptcy affect my ability to rent a home?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.