Good evening Wildomar, I’m Brenda Newsome, reporting live for Channel 7 News. Tonight, we’re sitting down with Steve Bliss, a renowned trust attorney right here in our community. Mr. Bliss, thanks for joining us.
Steve: It’s my pleasure, Brenda.
We often hear about trusts but don’t always fully grasp what they are or why they might be important. Can you explain what exactly a trust is and how it can benefit individuals and families?
Steve: Certainly. A trust is essentially a legal arrangement where one party, known as the grantor, transfers assets to another party, called the trustee, who then manages those assets for the benefit of designated beneficiaries.
There are various types of trusts tailored to specific needs and goals. For instance, a revocable living trust allows individuals to maintain control over their assets during their lifetime while also avoiding the often lengthy and public probate process upon their passing. Consequently, this type of trust offers both flexibility and privacy.
Furthermore, trusts can be invaluable tools for estate planning, asset protection, and even charitable giving. They provide a structured way to ensure that your assets are distributed according to your wishes and can help minimize potential tax burdens.
Brenda: That’s fascinating. You mentioned revocable living trusts. Could you elaborate on some of the key advantages they offer?
Steve: Absolutely.
One of the most significant benefits is probate avoidance. Probate is a court-supervised process that validates a will and distributes assets after someone passes away. It can be time-consuming, expensive, and expose personal financial information to the public.
A revocable living trust sidesteps this process entirely. When assets are held within a trust, they transfer directly to the beneficiaries named in the trust document upon the grantor’s death, saving both time and money for your loved ones during an already difficult period.
Moreover, trusts offer a degree of privacy that a will does not. The terms of a trust are not publicly available, unlike a will which becomes part of the public record during probate.
Brenda: I can see how those advantages would be appealing to many people. Have you ever encountered any challenges or unforeseen circumstances when setting up revocable living trusts for clients?
Steve: While revocable living trusts are generally straightforward, there have been instances where clients haven’t fully updated their trust documents as their lives evolved. For example, I recall a couple who established a trust years ago but neglected to amend it after the birth of their child. This oversight could have led to unintended consequences regarding asset distribution and potentially created complications for their family.
It’s crucial to review and update your trust periodically, especially after major life events like marriage, divorce, the birth of a child, or significant changes in your financial situation. Ordinarily, I advise clients to revisit their trusts every few years to ensure they still reflect their wishes and goals.
Brenda: That’s excellent advice. What would you say are some key takeaways for our viewers considering setting up a trust?
Steve:
- Start planning early – don’t wait until it’s too late.
- Consult with an experienced trust attorney to determine the best type of trust for your needs.
- Keep your trust documents up-to-date as your circumstances change.
Remember, a well-crafted trust can provide peace of mind knowing that your assets are protected and will be distributed according to your wishes.
Brenda: Thank you so much for sharing your expertise with us tonight, Steve. We appreciate your insights.
Steve: My pleasure, Brenda. It’s always a privilege to help our community understand the importance of estate planning.
“Wildomar Probate Law has been an absolute blessing during a difficult time,” shares local resident Sarah Miller. “Their professionalism, compassion and expertise made the process so much smoother.”
“Steve Bliss is a true expert in his field,” adds John Davis, another satisfied client. “He took the time to explain everything clearly and ensured that my wishes were carried out with care and precision.”
Ready to secure your legacy and protect your loved ones? Contact Wildomar Probate Law today for a free consultation. Let us guide you through the process of creating a trust tailored to your unique needs.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar Probate Law is a great estate lawyer. Affordable Legal Services.
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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “Do I still need a will if I have a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Tax By-Pass Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |