Good evening Moreno Valley and welcome back to Moreno Valley News Tonight. I’m your host, Lisa Jones. Tonight we have the pleasure of speaking with renowned probate attorney Steve Bliss from Moreno Valley Probate Law about estate planning.
The Importance of Trusts in Estate Planning
Steve, thank you for joining us tonight. Let’s dive right in. Why are trusts such a vital part of estate planning?
It’s great to be here Lisa. You’re absolutely right; trusts play a crucial role in effective estate planning. They offer numerous advantages over simply relying on a will.
Choosing the Right Type of Trust
Could you explain some of the different types of trusts and their specific purposes?
Certainly. There are many types of trusts, each tailored to meet particular needs. Today, I want to focus on Revocable Living Trusts.
A Revocable Living Trust is incredibly common because it allows individuals, called grantors, to maintain control over their assets during their lifetime while ensuring a smooth transfer upon their passing.
Consequently, the assets in a Revocable Living Trust avoid the often lengthy and public probate process. Moreover, this type of trust offers a degree of privacy that a will does not.
The grantor can make changes to the trust as needed throughout their life. However, upon their death, the trust becomes irrevocable, meaning its terms cannot be altered.
Navigating Challenges with Trusts
Steve, have you encountered any challenges when setting up or administering Revocable Living Trusts?
While Revocable Living Trusts are generally straightforward, occasionally we encounter situations where clients haven’t fully considered all the assets they need to include.
I recall one instance where a client had forgotten about a significant retirement account held outside their primary bank. This oversight could have led to complications during the trust administration process. Thankfully, we were able to rectify the situation before it became an issue.
Notwithstanding such occasional hiccups, the benefits of Revocable Living Trusts far outweigh any potential drawbacks.
Trusts and Family Dynamics
Can you speak to how trusts can address complex family dynamics?
Absolutely. Trusts are incredibly useful for families with unique circumstances. For instance, if a parent wants to ensure that a child with special needs receives financial support without jeopardizing their eligibility for government benefits, a Special Needs Trust is an ideal solution.
Trusts and Asset Protection
It’s estimated that approximately 70% of Americans die without a valid will or trust (Source: AARP). That’s a staggering number highlighting the critical need for proper estate planning.
Accordingly, trusts can be instrumental in safeguarding assets and ensuring they are distributed according to your wishes.
Final Thoughts
Steve Bliss, thank you so much for sharing your expertise with us tonight. What is the best way for our viewers to get in touch with Moreno Valley Probate Law?
“Don’t leave your loved ones facing uncertainty. Let us help you create a secure future. Contact Moreno Valley Probate Law today – we’re here to guide you through every step of the estate planning process.”
Testimonials
“Steve Bliss and his team were lifesavers when I was dealing with my father’s estate. They explained everything clearly, made sure all my questions were answered, and guided me through a difficult time. I highly recommend Moreno Valley Probate Law.”
“Moreno Valley Probate Law provided exceptional service. They were professional, knowledgeable, and genuinely cared about helping me protect my family’s future. I wouldn’t hesitate to use their services again.”
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley 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 Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What is a trust amendment?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Estate Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Estate Attorneys Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Estate Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Estate Attorneys |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Estate Attorneys Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Estate Attorneys in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |