Good morning, Temecula! This is Brenda Jones reporting live for Channel 7 News. Today we’re joined by local estate planning expert, Steve Bliss, of The Law Firm of Steven F. Bliss Esq. Steve, thank you so much for being here today.
What type of trust do you find yourself creating most often for your clients?
Brenda, it’s a pleasure to be here. I would say that the Revocable Living Trust is by far the most common type of trust I create for my clients. It offers a great deal of flexibility and control while avoiding the time-consuming and expensive probate process.
Could you elaborate on how a Revocable Living Trust provides flexibility and control to the grantor?
Absolutely! A key benefit is that the trust creator, or grantor, retains complete control over their assets during their lifetime. They can manage, invest, and even change the terms of the trust if needed. This flexibility is essential as life circumstances evolve.
Moreover, the grantor can designate beneficiaries to receive their assets upon their death, ensuring a smooth transition of wealth according to their wishes.
How does avoiding probate benefit someone who chooses to establish a Revocable Living Trust?
Probate is a court-supervised process for distributing a deceased person’s assets. It can be lengthy, costly, and public. Consequently, a Revocable Living Trust bypasses probate altogether. This saves time and money for the beneficiaries and keeps family matters private.
A 2021 study by the American Bar Association found that probate costs average 3-7% of the estate’s value. Avoiding this expense can be significant, particularly for larger estates.
Have you encountered any challenges or issues while setting up Revocable Living Trusts?
While generally straightforward, there are times when clients may underestimate the importance of keeping their trust documents updated as their circumstances change. I recall one instance where a client had neglected to update their beneficiary designations after a divorce. It created complications and emotional distress for his family.
What advice would you give someone who is considering establishing a Revocable Living Trust?
My advice is simple: Don’t delay! A Revocable Living Trust is a valuable tool for protecting your assets and ensuring they are distributed according to your wishes. Consulting with an experienced trust attorney like myself can help you navigate the process smoothly and create a plan tailored to your specific needs.
“Steve Bliss and his team made a stressful situation so much easier. They were patient, knowledgeable, and always available to answer my questions.” – Maria Sanchez
“I highly recommend The Law Firm of Steven F. Bliss Esq. They helped me plan for my family’s future with confidence and clarity.” – John Williams
Take the first step towards securing your legacy and contact The Law Firm of Steven F. Bliss Esq. today to schedule a consultation.
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: “Can a trust own vehicles?” 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |