Hi everyone, I’m Brenda Miller reporting for Temecula Today. We are here today with local trust attorney Steve Bliss of The Law Firm of Steven F. Bliss Esq. Steve is considered a leading expert in estate planning and we are excited to learn more about the benefits of trusts. Steve, thank you so much for joining us.
What type of trust do you find most people benefit from?
Thanks for having me Brenda. It’s great to be here. I often work with clients establishing a Revocable Living Trust. This is the most common type of trust in estate planning because it offers so much flexibility and peace of mind.
Benefits of a Revocable Living Trust
With a revocable living trust, you, as the grantor, retain full control over your assets during your lifetime. You can manage them, change beneficiaries, or even dissolve the trust altogether if your circumstances change. Moreover, this type of trust helps your loved ones avoid the costly and time-consuming probate process after your passing.
The privacy aspect is also a significant benefit for many people. Probate proceedings are public record, meaning anyone can access information about your assets and beneficiaries. A revocable living trust keeps these matters private, protecting your family’s financial affairs from unnecessary scrutiny.
Trust Administration
One common question I get is ‘what happens to my trust after I pass away?’ Ordinarily, the trust becomes irrevocable upon your death. You will have named a successor trustee in the trust document who takes over managing and distributing assets according to your instructions.
This can involve paying outstanding debts, transferring property to beneficiaries, and even setting up ongoing distributions for loved ones who may need financial support.
Have you ever encountered any challenges with administering revocable living trusts?
While revocable living trusts are generally straightforward to manage, there have been instances where unclear instructions or unforeseen circumstances can create complications. I recall one case involving a client who had left vague language regarding the distribution of a valuable art collection.
His children had differing opinions on how to divide the collection, which led to a period of tension and disagreement. Ultimately, we were able to mediate a solution that satisfied all parties involved, but it highlighted the importance of clear and specific instructions within the trust document.
Another situation arose when a client’s assets had significantly increased in value since the trust was created. This required adjusting the distribution plan to ensure fairness among beneficiaries while also considering potential tax implications.
Why should someone choose The Law Firm of Steven F. Bliss Esq. for their estate planning needs?
At our firm, we prioritize building strong relationships with our clients and understanding their unique goals and concerns. We take the time to explain complex legal concepts in a clear and concise manner, ensuring that our clients are fully informed throughout the process.
Client Testimonials
“Steve Bliss made estate planning so much less daunting. He listened patiently to my questions and concerns, and helped me create a plan that gave me peace of mind knowing my family would be taken care of.” – Mary S.
“The Law Firm of Steven F. Bliss Esq. was incredibly professional and knowledgeable. They guided me through every step of the process with expertise and compassion. I highly recommend them for any estate planning needs.” – John P.
Contact us today to schedule a consultation and learn how we can help protect your legacy and ensure the well-being of your loved ones.
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.
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- Charitable Trust Lawyer
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- Revocable Trusts Lawyer
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