Hello everyone, and welcome back to “Temecula Talks.” I’m your host, Brenda Miller, and today we have the pleasure of speaking with Steve Bliss, a well-respected trust attorney right here in Temecula. Steve, thanks so much for joining us.
Let’s Get Started
Steve, could you explain to our viewers what exactly a testamentary trust is and how it works?
Understanding Testamentary Trusts
A testamentary trust, Steve explains, is a unique type of trust that comes into existence only after someone passes away. It’s essentially created through a person’s last will and testament. Consequently, unlike a living trust that avoids probate, a testamentary trust goes through the probate process.
Steve emphasizes that these trusts are often used when someone wants to ensure that their assets are managed for beneficiaries who may not be ready to handle them directly. A classic example is providing for minor children. The trust can hold assets and distribute them according to the grantor’s wishes as the beneficiary reaches certain ages.
Moreover, testamentary trusts can also benefit individuals with special needs. They allow for careful management of funds without jeopardizing eligibility for crucial government benefits.
Challenges and Successes
Steve shares a story about a client who was deeply concerned about her young daughter’s future. The daughter had significant medical needs, and the mother wanted to ensure she would always have financial support. Steve helped establish a testamentary trust that would provide for the daughter’s care while safeguarding her eligibility for government assistance programs.
“Seeing the relief on that mother’s face when we finalized the trust was incredibly rewarding,” Steve reflects. He goes on to explain that while testamentary trusts are powerful tools, they do require careful planning and drafting. The language used in the will must be precise to avoid any unintended consequences.
Trusting the Process
Steve reminds viewers that approximately 60% of Americans don’t have a will in place. This statistic underscores the importance of estate planning, especially when considering the complexities of testamentary trusts.
Next Steps
Steve encourages anyone with questions about trusts or estate planning to reach out to his firm for a consultation. “We are committed to helping our clients navigate these often complex legal matters with clarity and compassion,” he assures us.
Testimonials
“I was overwhelmed with the thought of setting up a trust, but Steve Bliss made the entire process so easy. He explained everything clearly and patiently answered all my questions. I feel confident that my family is protected thanks to his expertise.” – Mary S., Temecula
“Steve’s dedication to his clients is truly commendable. He went above and beyond to ensure our trust met our unique needs, even working with us on weekends to accommodate our schedules. We highly recommend his services.” – John & Susan P., Murrieta.
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 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: “Do beneficiaries pay tax on trust distributions?” 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 Spendthrift Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
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The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Spendthrift Trust Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Spendthrift Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
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The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
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The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |