Good morning San Diego and welcome back to Legal Briefs. Today we’re joined by Steve Bliss of San Diego Probate Law to discuss the ins and outs of estate planning.
Steve, thanks for joining us today. Could you explain what a testamentary trust is and how it differs from other types of trusts?
It’s my pleasure to be here. A testamentary trust is a unique type of trust that’s created through your will and only comes into effect after you pass away. Unlike living trusts, which are established during your lifetime, testamentary trusts go through the probate process.
Can you elaborate on some benefits of using a testamentary trust?
Certainly. Testamentary trusts can be particularly helpful for individuals with minor children or beneficiaries who may need assistance managing their inheritance. For instance, let’s say you want to ensure your child receives financial support for college but isn’t granted full access to the funds until they reach a certain age. A testamentary trust allows you to specify those terms and conditions, providing protection and guidance.
Moreover, testamentary trusts offer flexibility in asset distribution. You can designate specific beneficiaries, outline how assets should be used (e.g., for education, healthcare), and even appoint a trustee to oversee the management of the trust.
Have you encountered any challenges or complexities when setting up testamentary trusts?
While testamentary trusts are a valuable tool, there can be some nuances involved. Ordinarily, the probate process itself takes time and can involve legal fees. This is something we carefully explain to our clients, helping them weigh the benefits against potential costs.
I recall working with a family who wanted to establish a testamentary trust for their daughter with special needs. It was crucial to ensure the trust wouldn’t jeopardize her eligibility for government assistance programs. We collaborated closely with financial advisors and specialists in disability law to craft a trust that met both her financial needs and protected her access to vital benefits.
Our firm is committed to providing personalized guidance, taking into account each client’s unique circumstances and goals. According to the American Bar Association, nearly 60% of adults don’t have a will or estate plan in place. We strive to empower individuals and families through comprehensive planning that offers peace of mind.
What advice would you give to San Diegans considering a testamentary trust?
Consulting with an experienced probate attorney is essential. We can help you determine if a testamentary trust aligns with your estate planning objectives, guide you through the legal process, and ensure your wishes are carried out effectively.
“Steve Bliss made the complex world of estate planning understandable and helped me protect my family’s future.” – Maria S.
“San Diego Probate Law provided compassionate and professional guidance during a difficult time. I highly recommend their services.” – John P.
Don’t delay securing your legacy. Contact San Diego Probate Law today for a consultation and discover how we can help you build a brighter tomorrow.
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.
Important Facts About San Diego Probate Law
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