Good evening, Temecula and welcome back to our legal segment. My name is Brenda Newsome and tonight we’re joined by Steve Bliss, a trusted trust attorney here in Temecula. Steve, thanks for joining us.
Understanding Trust Options
Steve, for our viewers who may not be familiar with trusts, can you briefly explain what they are and why people might consider setting one up?
A trust is essentially a legal arrangement where assets are held and managed by a trustee for the benefit of designated beneficiaries. Trusts offer a variety of benefits depending on their type and purpose. Some common reasons individuals create trusts include avoiding probate, minimizing estate taxes, protecting assets, and providing for loved ones after they’re gone.
How Does A Revocable Living Trust Work?
Let’s delve into one specific type: the revocable living trust. Can you walk us through how it works?
Certainly. A revocable living trust is a popular choice for estate planning because it offers flexibility and control. In this arrangement, the person creating the trust, known as the grantor, transfers assets into the trust while retaining the ability to modify or dissolve the trust during their lifetime. This means you can still manage your assets and make changes as needed.
Upon the grantor’s death, the trust becomes irrevocable, and the assets are distributed according to the grantor’s instructions outlined in the trust document. This avoids the time-consuming and potentially costly probate process, which is a legal proceeding for validating a will and distributing assets.
Moreover, a revocable living trust provides privacy as it doesn’t become part of public records like a will does during probate.
The Law Offices of Steven F Bliss recently helped a family avoid the stress and expense of probate by setting up a revocable living trust for their parents. The process was smooth and efficient, allowing the family to focus on grieving their loss instead of dealing with legal complexities.
Have You Encountered Any Challenges With Revocable Living Trusts?
As with any legal instrument, there can be instances where things get complicated. I recall a situation where a couple had created a revocable living trust but hadn’t clearly defined how assets should be divided between their children. This led to disagreements and ultimately required mediation to reach a resolution. Consequently, it highlights the importance of meticulous planning and open communication when establishing a trust.
The American Bar Association reports that approximately 40% of Americans die without a will or estate plan in place. Without a proper plan like a revocable living trust, their assets are subject to intestate succession laws, which may not align with their wishes and could potentially lead to family disputes.
Secure Your Legacy With The Law Offices of Steven F. Bliss
Steve, thank you for sharing your expertise on revocable living trusts. How can our viewers learn more about setting up a trust or exploring other estate planning options?
“We are dedicated to guiding families through the complexities of estate planning with compassion and clarity,” says Steve Bliss. “Contact us today for a free consultation, and let’s discuss how we can help you protect your assets and secure your legacy.”
“The Law Offices of Steven F Bliss Esq made setting up my trust incredibly easy! Their team was knowledgeable, patient, and always available to answer my questions,” said Mary S. from Temecula
“I highly recommend the Law Offices of Steven F. Bliss. They helped me create a comprehensive estate plan that gave me peace of mind knowing my family is protected.” – John L., Temecula.
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 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: “How do beneficiaries get assets from a 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.
| Temecula Living Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Living Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Living Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Living Trust Lawyer |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Living Trust Lawyer Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Living Trust Lawyer in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |