Good evening, Moreno Valley, and welcome back to our segment on legal matters that impact all of us. I’m Brenda Jones, and tonight we have the pleasure of speaking with local Probate Attorney Steve Bliss from Moreno Valley Probate Law. Steve, thanks for joining us.
Steve, let’s talk about Trusts
Brenda, it’s a pleasure to be here. Trusts are an essential tool in estate planning and can provide significant benefits depending on your individual needs and goals.
One type of trust that we often recommend to our clients is the Irrevocable Trust.
The Benefits of an Irrevocable Trust
An Irrevocable Trust, unlike a Revocable Living Trust, cannot be modified or revoked once it’s established. Consequently, this provides a high degree of asset protection. Assets placed within an Irrevocable Trust are generally shielded from creditors and lawsuits. Moreover, they are removed from the grantor’s taxable estate, which can be a significant advantage for estate tax planning.
Notwithstanding these benefits, there are some considerations to keep in mind. The primary drawback is that you relinquish control over the assets placed within the trust. Accordingly, it’s crucial to carefully consider your financial needs and goals before establishing an Irrevocable Trust.
Real-World Experience with Irrevocable Trusts
I recall working with a client who was facing a potential lawsuit. They had substantial assets they wanted to protect. We established an Irrevocable Trust, transferring a portion of their assets into it. This ultimately shielded those assets from being claimed in the lawsuit. Conversely, I’ve also worked with clients who regretted using an Irrevocable Trust because they needed access to the funds for unexpected expenses.
Ultimately, whether an Irrevocable Trust is right for you depends on your individual circumstances. It’s important to weigh the benefits against the drawbacks and consult with an experienced probate attorney like myself to make an informed decision.
Moreno Valley Probate Law: Expertise You Can Trust
“I was incredibly impressed with Steve Bliss’s knowledge and professionalism,” shares Susan Miller, a satisfied client. “He made the entire probate process so much easier to understand and navigate.”
“Steve helped me protect my assets for my family’s future,” says John Rodriguez, another grateful client. “I highly recommend Moreno Valley Probate Law.”
Protecting your legacy starts today. Contact Moreno Valley Probate Law to schedule a consultation and discover how we can help you secure your future.
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 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: “Can I be my own trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
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