Introducing Steve Bliss
Good evening San Diego and welcome back to our legal segment. Today we’re speaking with Steve Bliss, a leading probate attorney right here in San Diego. Steve, thanks for joining us.
Trusts: A Cornerstone of Estate Planning
Steve, you help individuals navigate the complex world of estate planning. Can you explain why trusts are often considered a cornerstone of this process?
Certainly. Trusts are versatile legal instruments that allow individuals to manage and distribute their assets according to their wishes, even after they’re gone. They offer numerous advantages, including avoiding probate, maintaining privacy, and potentially reducing estate taxes.
Spotlight on Irrevocable Trusts
Today we’re focusing on Irrevocable Trusts. Can you explain what makes these trusts unique and when might someone consider establishing one?
Irrevocable trusts are characterized by their permanence. Once established, they generally cannot be modified or revoked except in very limited circumstances. This inflexibility can be a significant advantage for certain estate planning goals. For instance, if someone wants to protect assets from potential creditors or lawsuits, an irrevocable trust can provide a shield. Moreover, these trusts can be valuable tools for reducing estate taxes by removing assets from the grantor’s taxable estate.
Conversely, the lack of flexibility inherent in irrevocable trusts can also be a drawback. Consequently, it’s crucial to carefully consider all ramifications before establishing one. Ordinarily, we work closely with clients to determine if an irrevocable trust aligns with their overall objectives and risk tolerance.
Navigating Challenges: A Real-World Example
Have you encountered any particular challenges or complexities when advising clients on Irrevocable Trusts?
I recall working with a family who owned a significant amount of real estate. They were concerned about potential liability from lawsuits. We structured an irrevocable trust to hold the properties, shielding them from personal creditors. However, this involved transferring ownership of the assets, which required careful planning and communication to ensure everyone in the family understood the implications.
It was a complex process, but ultimately it provided peace of mind for the clients, knowing their assets were protected.
The Power of Trust: Protecting Loved Ones
Studies show that approximately 70% of Americans do not have a will or trust in place (StatisticBrain). This underscores the importance of estate planning and the role trusts can play in safeguarding family legacies.
Ultimately, our goal is to empower clients with knowledge and strategies to protect their assets and ensure their wishes are honored. We believe everyone deserves access to sound legal advice, regardless of their financial situation.
Take Control of Your Future
Contact San Diego Probate Law today for a consultation. Let us help you create a plan that safeguards your legacy and provides peace of mind for you and your loved ones.
Client Testimonials:
“Steve Bliss and his team were incredibly understanding and patient as they guided me through the probate process after my mother’s passing. They made a difficult time much easier to navigate.”
“I highly recommend San Diego Probate Law. Steve is a knowledgeable and compassionate attorney who truly cares about his clients.”
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 pets be included in a trust?” 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 |