Today we’re speaking with Steve Bliss, a well-respected probate attorney here in San Diego. Steve, thanks for taking the time to chat with us.
Steve, can you explain why someone might want to consider creating a Testamentary Trust?
You bet! A Testamentary Trust is established through a will and only takes effect after the grantor’s passing. It differs from a living trust because it goes through probate. Now, while probate can be seen as a drawback, testamentary trusts are incredibly useful for specific situations.
Let’s say someone has minor children or beneficiaries with special needs. A testamentary trust allows the grantor to control how and when assets are distributed, ensuring the well-being of those beneficiaries even after they’re gone. It can cover expenses like education, healthcare, or daily living costs, providing long-term financial security.
What are some potential challenges you’ve encountered with Testamentary Trusts?
I remember one case involving a young couple who tragically passed away in a car accident, leaving behind two small children. Their will stipulated a testamentary trust to manage their assets for the kids’ benefit. The challenge was that the designated trustee lived out of state and wasn’t initially familiar with California probate laws.
Consequently, we had to guide them through the process step-by-step, ensuring they understood their responsibilities and fiduciary duties. Moreover, we navigated the complexities of distributing assets in a way that met the children’s needs while adhering to state regulations.
It was an emotional journey for everyone involved, but ultimately, seeing the trust effectively safeguard those children’s futures made it all worthwhile.
How common are Testamentary Trusts?
While testamentary trusts are not as prevalent as revocable living trusts, they remain a valuable tool in estate planning. Notably, according to the American Bar Association, roughly 40% of wills include some form of trust provision.
This underscores the importance of seeking legal counsel when crafting your estate plan, as the right type of trust can make all the difference for your loved ones.
Why choose San Diego Probate Law?
Steve Bliss and the team at San Diego Probate Law are dedicated to helping individuals navigate the complexities of probate with empathy and expertise. They understand that this is often a difficult time, and they strive to provide clear guidance and personalized support every step of the way.
“San Diego Probate Law helped me through a very challenging situation after losing my mother,” shared one client. “Steve was incredibly patient and understanding, explaining everything clearly and making sure I felt informed and supported.”
– Another satisfied client remarked, “I highly recommend San Diego Probate Law for their professionalism and compassion. They truly went above and beyond to ensure my wishes were honored.”
Ready to secure your legacy and protect the future of your loved ones? Contact San Diego Probate Law today for a free consultation and discover how their expertise can guide you through the complexities of estate planning.
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 be my own trustee?” 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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