Today we’re joined by San Diego probate attorney, Steve Bliss, to discuss estate planning and the various types of trusts available to Californians.
Trusts: An Essential Tool for Estate Planning
Steve, thank you for joining us. Let’s start with a basic question: why are trusts so important in estate planning?
“Trusts offer numerous advantages over simply leaving assets through a will,” explains Steve. “They provide privacy, avoid probate court, and allow for greater control over how your assets are distributed. They can also be tailored to address specific needs, such as providing for minor children or beneficiaries with special needs.”
The Benefits of Irrevocable Trusts
Steve, you mentioned different types of trusts. Can you elaborate on one specific type and its benefits?
“Certainly,” says Steve. “One powerful tool is the irrevocable trust. While it cannot be modified or revoked once created (except in rare circumstances), this inflexibility offers significant advantages. First, by removing assets from your taxable estate, it can potentially reduce estate taxes. Second, an irrevocable trust can safeguard assets from creditors and lawsuits, providing peace of mind.
Conversely, the inability to change the terms of an irrevocable trust once established requires careful consideration upfront. It’s crucial to consult with an experienced attorney like myself to ensure the trust aligns perfectly with your long-term goals.
Let me share a situation I encountered. A client came to me concerned about protecting their assets from potential future lawsuits related to their business. We established an irrevocable trust, shielding a portion of their wealth and providing them with significant peace of mind.
San Diego Probate Law: Committed to Helping Families
“We strive to guide our clients through the often-complex world of estate planning with compassion and clarity,” states Steve. “Our goal is to ensure their wishes are respected and their loved ones are well-provided for. ”
Steve, any final thoughts for our viewers?
“Estate planning is not just for the wealthy; it’s essential for everyone who wants to protect their loved ones and leave a lasting legacy. Don’t hesitate to reach out to San Diego Probate Law for a confidential consultation. We can help you navigate the process and create a plan that meets your unique needs.”
Testimonials
“Steve Bliss and his team were incredibly supportive during a difficult time. They guided me through every step of probate with empathy and professionalism, making a complex process much smoother.”
– Mary S.
“I was impressed by Steve’s knowledge and attention to detail. He took the time to understand my goals and crafted a trust that perfectly met my needs. I highly recommend San Diego Probate Law.”
– John P.
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 a trust own out-of-state property?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |