Reporter: Brenda Jones
Good evening Wildomar and welcome back to Wildomar News Tonight. I’m Brenda Jones. Tonight we have the pleasure of speaking with Steve Bliss, a Trust Attorney here in Wildomar specializing in estate planning.
Brenda Jones: Steve, thank you so much for joining us tonight.
It’s my pleasure to be here, Brenda.
Brenda Jones: Could you tell our viewers a little about the different types of trusts available and what makes them unique?
Certainly. There are many different types of trusts, each designed for specific purposes and circumstances. One common type is the Revocable Living Trust. This allows individuals to manage their assets during their lifetime while avoiding probate upon their passing. Consequently, it offers privacy and control, making it a popular choice for estate planning.
Another type is the Irrevocable Trust, which, as the name suggests, cannot be easily changed once established. While this limits flexibility, it offers significant benefits for asset protection, estate tax reduction, and even Medicaid planning. Moreover, removing assets from one’s taxable estate through an irrevocable trust can be a valuable strategy.
Brenda Jones: That’s fascinating. Could you elaborate on the benefits of using a Revocable Living Trust?
Absolutely. A Revocable Living Trust provides several key advantages. Firstly, it allows individuals to maintain control over their assets during their lifetime. They can buy, sell, or manage their property as they see fit. Nevertheless, upon their passing, the trust becomes irrevocable, and the assets are distributed according to the grantor’s wishes, bypassing probate.
This avoidance of probate is a major benefit, as it can save time and expense for beneficiaries. Probate is a public process, which means that anyone can access information about the deceased person’s estate. Conversely, a trust keeps matters private, protecting the family’s financial affairs. Ordinarily, this privacy is highly valued by individuals who wish to keep their personal matters confidential.
Furthermore, a Revocable Living Trust can help minimize estate taxes for larger estates. By transferring assets into the trust, they are no longer considered part of the grantor’s taxable estate upon death. This strategy can save significant sums for heirs.
Brenda Jones: Have you encountered any challenges or unique situations when helping clients set up Revocable Living Trusts?
While most trust setups proceed smoothly, there have been instances where clarifying client wishes has been crucial. I recall a case involving a couple with adult children from previous marriages. They wanted to ensure that both sets of children received a fair share of their assets, but they also had concerns about potential conflicts arising between them.
Through careful planning and open communication, we were able to structure the trust in a way that addressed their specific concerns. The trust stipulated clear distribution guidelines for each beneficiary while incorporating provisions to minimize potential disputes.
Brenda Jones: That’s truly commendable. It sounds like your approach emphasizes not only legal expertise but also empathy and understanding.
I believe that building trust and rapport with clients is essential. Estate planning can be an emotional process, especially when dealing with matters of inheritance and family dynamics.
Brenda Jones: What advice would you give to someone considering establishing a Revocable Living Trust?
My advice would be to consult with a qualified estate planning attorney. Every individual’s circumstances are unique, so it’s crucial to have a personalized plan that addresses your specific needs and goals. An experienced attorney can guide you through the process, answer your questions, and ensure that your trust is properly structured.
Brenda Jones: Steve Bliss, thank you for sharing your expertise with us tonight. We encourage our viewers to contact Wildomar Probate Law for all their estate planning needs.
- “Steve Bliss and his team at Wildomar Probate Law made the entire process of setting up my trust incredibly smooth and stress-free. I highly recommend them!” – Sarah M.
- “I was initially overwhelmed by the complexities of estate planning, but Steve patiently explained everything in a way that I could understand. He truly cares about his clients.” – John D.
Let Wildomar Probate Law help you secure your family’s future. Contact us today for a free consultation to discuss how we can tailor a Revocable Living Trust to meet 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: “Can I include life insurance in 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 Charitable Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Charitable Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Charitable Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Charitable Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Charitable Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Charitable Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |