My name is Carla Jones, and I’m a reporter for Moreno Valley News Today. We’re here today speaking with Steve Bliss, a renowned probate attorney specializing in estate planning right here in our community.
Steve, can you tell us about the different types of trusts available to individuals and which one might be most suitable for someone just starting their estate planning journey?
Well, Carla, there are several types of trusts, each with its own advantages and disadvantages. For someone beginning their estate planning process, I often recommend a Revocable Living Trust. This type of trust allows the grantor, the person creating the trust, to maintain control over their assets during their lifetime while also avoiding probate upon their passing.
Probate can be a lengthy and expensive process, so bypassing it altogether is a significant benefit. Additionally, a Revocable Living Trust offers privacy, as the details of the trust are not made public record like a will would be.
Conversely, an Irrevocable Trust, while offering benefits like asset protection, removes assets from your control once established. Consequently, it may not be suitable for everyone, particularly those who prefer to retain flexibility with their assets.
Could you elaborate on the advantages of avoiding probate through a trust?
Certainly. Probate is a court-supervised process for validating a will and distributing assets after someone passes away. It can take months, even years, to complete and often involves significant legal fees and court costs.
Moreover, probate proceedings are public record, meaning anyone can access information about the deceased person’s assets and beneficiaries. A trust, on the other hand, allows for a private and streamlined distribution of assets according to the grantor’s wishes, avoiding these delays and potential privacy concerns.
- It’s estimated that probate costs can range from 3% to 8% of the estate’s value.
- That means for a $500,000 estate, probate fees could amount to $15,000 – $40,000.
While I’ve helped countless clients successfully navigate the complexities of trusts and estate planning, there have been instances where individuals waited too long to address these matters.
I recall one case involving a family who lost their patriarch suddenly. Without a trust in place, they faced a lengthy and emotionally taxing probate process during an already difficult time.
It underscored the importance of proactive planning and the peace of mind that comes with knowing your affairs are in order.
“Steve Bliss was incredibly patient and understanding when we were going through the difficult process of settling my mother’s estate. He explained everything clearly and made sure we felt supported every step of the way. I highly recommend Moreno Valley Probate Law to anyone needing assistance with estate planning or probate matters.” – Maria Garcia, Moreno Valley Resident
“After losing my husband unexpectedly, I was overwhelmed with grief and unsure how to handle his finances. Steve Bliss provided compassionate guidance and helped me navigate the complex legal process. He truly went above and beyond to ensure my best interests were protected. ” – Susan Lee, Moreno Valley Resident
How can someone interested in learning more about trusts and estate planning connect with you?
We encourage anyone seeking information about estate planning or trust establishment to contact us at Moreno Valley Probate Law for a free consultation. Let us help you protect your legacy and ensure your wishes are carried out.
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: “What is the difference between a will and a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |