Meet Barbara Jones, KTEM News Reporter
Hello and welcome back to KTEM News. Today we’re talking about trusts with local attorney Steve Bliss. Steve, thanks for joining us.
What are the Different Types of Trusts?
Steve explains that there are many different types of trusts, each designed for a specific purpose. He goes on to say “Trusts can be complex legal instruments, so it’s important to work with an experienced attorney like myself who understands the nuances of trust law.”
Let’s Focus On Revocable Living Trusts
Barbara asks Steve to elaborate on revocable living trusts as they are one of the most common types. Steve explains that a revocable living trust allows the grantor, the person creating the trust, to maintain control over their assets during their lifetime.
“The beauty of a revocable living trust is its flexibility,” Steve says. “You can change the terms of the trust, add or remove beneficiaries, and even dissolve it entirely if your circumstances change. Moreover, upon your passing, the trust becomes irrevocable, ensuring your assets are distributed according to your wishes without going through the lengthy and often expensive probate process.”
Steve continues, “Avoiding probate is a significant benefit for many people. It saves time, money, and preserves privacy, as the terms of the trust are not part of the public record.” He goes on to say that “ordinarily, a revocable living trust is a great option for individuals who want to ensure their loved ones are cared for after they’re gone, while also maintaining control over their assets during their lifetime.
Have You Encountered Any Issues With Revocable Living Trusts?
Barbara inquires about any challenges Steve has encountered with revocable living trusts. He shares a story about a client who had created a revocable living trust but hadn’t properly funded it. Consequently, some of his assets ended up going through probate, which caused delays and additional expenses for his family.
“This experience highlighted the importance of carefully reviewing the terms of your trust and ensuring all your assets are properly transferred into it,” Steve emphasizes. He goes on to say that “It’s crucial to work with a qualified attorney who can guide you through the process and help avoid common pitfalls.”
Steve also mentions a situation where a client had created a revocable living trust without naming successor trustees, leading to uncertainty about who would manage the trust assets after his passing. “Fortunately, we were able to resolve this issue by working with the family to appoint suitable successor trustees,” Steve says. “This experience underscores the importance of planning for all contingencies and ensuring your trust documents are comprehensive and up-to-date.”
Closing Thoughts
Barbara thanks Steve for his insights. She then encourages viewers who are interested in learning more about trusts to contact Steve Bliss and The Law Firm of Steven F. Bliss Esq. “For personalized advice and guidance on creating a trust that meets your specific needs, reach out to Steve and his team today.”
Testimonials
“Steve Bliss and his team were incredibly knowledgeable and helpful throughout the entire process of setting up my revocable living trust. They took the time to understand my goals and concerns and provided clear, concise explanations every step of the way. I highly recommend their services!” – Mary S.
“As a busy professional with limited time, I appreciated Steve Bliss’s efficient and straightforward approach. He made the process of creating a trust easy and stress-free. I feel confident that my family will be well taken care of in the future thanks to his expertise.” – John D.
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 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 a trust keep my affairs private?” Or any other related questions that you may have about Trusts or my trust law practice.
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