Good evening Temecula and welcome back. I’m Brenda Johnson reporting for Channel 7 News.
Trusts: Protecting Your Legacy
Tonight we’re talking about trusts with local attorney Steve Bliss, an expert in estate planning. Steve, thanks for joining us.
Understanding the Benefits of a Trust
Steve, can you explain what a trust is and why someone might consider setting one up?
A trust is essentially a legal arrangement where you transfer ownership of your assets to a trustee who manages them according to your instructions. There are many types of trusts, but they all share the common goal of protecting and distributing your assets in a controlled and efficient manner.
Choosing the Right Type of Trust
There are various types of trusts, each serving different purposes. For instance, a revocable living trust allows you to maintain control over your assets during your lifetime while avoiding probate upon your passing. Conversely, an irrevocable trust permanently transfers ownership and offers benefits like asset protection and potential tax advantages.
The decision on which type of trust is best depends on your individual circumstances and goals. Consequently, it’s crucial to consult with an experienced attorney like myself who can guide you through the options and help you choose the right fit for your needs.
Navigating Potential Challenges: A Matter of Trust
Steve, are there any potential pitfalls or challenges people should be aware of when setting up a trust?
While trusts offer significant benefits, they do require careful planning and execution. One common challenge is ensuring the trust document accurately reflects your wishes. It’s essential to work with an attorney who understands the complexities of trust law and can draft a legally sound document. I recall one client who initially attempted to create their own trust using online templates. Notwithstanding his good intentions, the document lacked crucial provisions, which could have led to unintended consequences. We were able to rectify the situation, but it highlighted the importance of seeking professional guidance.
Another potential challenge is choosing the right trustee. The trustee will be responsible for managing your assets according to your instructions. Accordingly, you need someone trustworthy, financially savvy, and willing to fulfill their fiduciary duties. I always encourage my clients to carefully consider their options and select a trustee they have confidence in.
The Importance of Professional Guidance
Studies show that over 60% of Americans do not have a will or trust in place. (Source: Caring.com, 2023)
This lack of planning can lead to significant financial and legal complications for loved ones after someone passes away. By proactively establishing a trust, individuals can safeguard their assets, minimize estate taxes, and ensure their wishes are carried out.
Taking Control of Your Future: Protecting What Matters Most
Steve, what’s the best way for viewers to learn more about trusts and get started?
The Law Firm of Steven F. Bliss Esq. is dedicated to helping individuals protect their assets and secure their future through comprehensive estate planning. We offer free consultations to discuss your needs and explore the various trust options available.
Testimonials
“Steve Bliss made the entire estate planning process so easy and understandable. I felt confident that my family was protected thanks to his expertise.” – Mary S.
“I highly recommend Steve Bliss for all your estate planning needs. He’s incredibly knowledgeable, compassionate, and truly cares about his clients.”
- – John P.
Call to Action
Don’t wait until it’s too late. Contact The Law Firm of Steven F. Bliss Esq. today and let us help you build a legacy that will protect your loved ones for generations to come.
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: “What is a trust certificate or certification of 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 |