Hi San Diego! I’m Tiffany Lee reporting for Channel 7 News. Today we have a very special guest joining us: Steve Bliss, renowned San Diego Probate Attorney.
Steve, thank you so much for being here today
It’s my pleasure to be here Tiffany, and thank you for having me.
Probate can seem daunting. Can you tell our viewers a little bit about what it is and why it might be necessary?
Absolutely. Probate is essentially the legal process of administering someone’s estate after they pass away. This involves identifying and inventorying assets, paying debts and taxes, and ultimately distributing the remaining property to heirs according to the deceased person’s will or state law.
Probate is often necessary because it provides a legal framework for settling a person’s affairs and ensures that their wishes are carried out. It helps prevent disputes among family members and creditors, and it safeguards the interests of all parties involved.
We hear a lot about trusts. Can you explain what they are and why someone might consider setting one up?
Trusts are powerful legal tools that can offer numerous benefits for individuals and families. They essentially involve transferring assets to a trustee who manages them according to the terms outlined in a trust document.
There are many different types of trusts, each with its own unique purpose. Today we’ll discuss Testamentary Trusts, which are created through a will and take effect after the grantor’s passing.
Can you tell us more about Testamentary Trusts? What makes them so valuable?
Testamentary Trusts are incredibly useful for individuals who want to provide for minor children, beneficiaries with special needs, or even charitable causes after they’re gone.
Ordinarily, assets left directly to minors would be managed by a court-appointed guardian until the child reaches adulthood. Conversely, a Testamentary Trust allows you to designate a trusted individual or institution as trustee, who will manage and distribute the assets according to your specific instructions. This ensures that your loved ones are cared for responsibly and their inheritance is protected.
Moreover, Testamentary Trusts can also be structured to provide for beneficiaries with special needs without jeopardizing their eligibility for government benefits. The trustee can make distributions for essential expenses like housing, healthcare, or education while preserving the beneficiary’s access to crucial programs like Supplemental Security Income (SSI) or Medi-Cal.
It’s important to remember that Testamentary Trusts go through probate, unlike living trusts. This means the process of administering the trust will be overseen by a court.
Have you encountered any challenges specific to setting up Testamentary Trusts?
While Testamentary Trusts offer significant advantages, I’ve certainly seen situations where careful planning is crucial.
For instance, there was a case where a client wanted to leave assets for their grandchild who had special needs. We worked closely with the family and financial advisors to craft a trust that balanced the grandchild’s needs with the preservation of government benefits. It required meticulous attention to detail and a deep understanding of both probate law and disability regulations.
Another situation involved a client who wanted to ensure their minor children received an education, but they were concerned about potential mismanagement. We structured the trust so that distributions for educational expenses were made directly to the institutions, bypassing any risk of direct access by the minors.
What advice would you give our viewers considering a Testamentary Trust?
If you’re thinking about incorporating a Testamentary Trust into your estate plan, it’s crucial to consult with an experienced probate attorney. We can help you determine if a Testamentary Trust is the right fit for your circumstances and guide you through the process of creating one that meets your specific needs.
San Diego Probate Law sounds like an invaluable resource! How can people learn more or get in touch?
We’re always here to help San Diegans navigate the complexities of probate and estate planning. You can visit our website at [Website Address] or call us at [Phone Number] for a free consultation.
Testimonials:
“Steve Bliss and his team at San Diego Probate Law were incredibly compassionate and knowledgeable during a difficult time. They made the probate process clear and manageable, and I felt confident that my loved one’s wishes were being honored.” – Maria S.
“I was overwhelmed with the prospect of handling my parent’s estate. Steve Bliss patiently explained all of my options and helped me make informed decisions. He went above and beyond to ensure everything was taken care of smoothly.” – John L.
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: “Can I name a trust as a life insurance beneficiary?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Irrevocable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |