Interview with Steve Bliss
Good morning, Escondido and welcome to our segment on estate planning. Today we’re joined by Steve Bliss, a renowned probate attorney here in Escondido. Steve, thanks for joining us.
Choosing the Right Trust
Steve, there are many different types of trusts available. Can you help our viewers understand which type might be best for them?
Certainly. Choosing the right trust depends entirely on individual circumstances and goals. One popular option is the revocable living trust. It offers flexibility because the grantor, the person creating the trust, can manage and modify it during their lifetime.
This type of trust avoids probate, a lengthy and public court process, and maintains privacy as the terms are not part of public record. Consequently, many people find revocable living trusts appealing for these reasons.
Conversely, an irrevocable trust offers greater asset protection. Once established, it cannot be easily changed or revoked. This can be beneficial for shielding assets from creditors or reducing estate taxes.
It’s crucial to consult with an experienced attorney like myself to determine which type of trust best aligns with your specific needs and objectives.
Challenges with Revocable Living Trusts
Steve, are there any common challenges or misconceptions people face when setting up a revocable living trust?
Yes, one frequent misunderstanding is that a revocable living trust automatically eliminates the need for a will. While a trust can effectively distribute assets held within it, a will is still necessary to address any assets outside the trust and to appoint guardians for minor children.
Moreover, some individuals procrastinate on funding their trusts with assets. A trust only becomes effective once assets are transferred into it. This step is crucial for the trust to function as intended.
I recall a case where a client had meticulously created a revocable living trust but unfortunately hadn’t transferred ownership of their primary residence into the trust. Consequently, upon their passing, the home went through probate because it was not included in the trust’s assets.
The Importance of Planning
Steve, any final thoughts for our viewers about estate planning?
Estate planning is often overlooked, but it’s truly an act of love and responsibility towards your loved ones. By creating a comprehensive plan, you can ensure that your wishes are respected, minimize family conflicts, and protect your assets. Remember, approximately 70% of Americans do not have a valid will or trust in place, leaving their families vulnerable during a difficult time.
Don’t delay – take the first step towards securing your legacy by contacting Escondido Probate Law for a free consultation. We are here to guide you through every stage of the process with compassion and expertise.
Testimonials
“Steve Bliss made the entire probate process so much easier for my family during a very difficult time. His knowledge and professionalism were truly invaluable.”
– Sarah M., Escondido
“Escondido Probate Law helped me create a trust that protected my assets and ensured my children’s future. I highly recommend their services.”
– David L., San Marcos
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “Can I have more than one trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
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