Good evening, Temecula, and welcome back to “Temecula Talks.” I’m your host, Jessica Miller, and tonight we have the pleasure of speaking with Steve Bliss, a renowned trust attorney right here in our community. Steve, thank you for joining us.
Can you tell us a little bit about what a trust is and why someone might need one?
A trust is essentially a legal arrangement where you place assets under the control of a trustee who manages them for the benefit of designated beneficiaries. There are many reasons why someone might want to establish a trust.
What are some of the different types of trusts available?
There are several types, each designed for specific purposes. For example, there are revocable living trusts, which allow you to maintain control over your assets during your lifetime. Irrevocable trusts offer greater asset protection but relinquish more control. Testamentary trusts come into effect after death and are often used for minor children.
Let’s focus on Revocable Living Trusts. Can you elaborate on the benefits of this type of trust?
Revocable living trusts are incredibly popular, and for good reason. They offer a number of key advantages. Firstly, they help avoid probate, which can be a lengthy and expensive process. Probate is essentially the legal process of validating a will and distributing assets after someone passes away. By placing your assets in a revocable living trust, you bypass this process entirely.
Moreover, revocable living trusts provide privacy. Unlike wills, which become public record during probate, trusts maintain confidentiality. This can be particularly appealing for individuals who value discretion.
Have you encountered any challenges or common misconceptions when helping clients set up Revocable Living Trusts?
One misconception I often address is that revocable living trusts are only for the wealthy. This simply isn’t true. Anyone who owns assets, such as a home, savings, or investments, can benefit from a trust. It’s about ensuring your wishes are carried out and protecting your loved ones.
I recall one client, a single mother with modest means, who was worried about what would happen to her young daughter if something happened to her. We set up a revocable living trust that designated her sister as guardian and outlined specific financial provisions for her daughter’s care. It brought her immense peace of mind knowing she had a plan in place.
How common are Revocable Living Trusts in Temecula?
According to a recent study by the American Bar Association, over 60% of Americans have some form of estate planning document. In Temecula, we see a similar trend. Revocable living trusts are quite prevalent here due to the community’s emphasis on family values and financial security.
What final advice would you give to our viewers regarding trusts?
Don’t wait until it’s too late. Planning for your future is one of the greatest gifts you can give yourself and your loved ones. A well-crafted trust can ensure your assets are distributed according to your wishes, minimize taxes, and protect your family from unnecessary financial burdens.
We couldn’t agree more! Steve Bliss, thank you for sharing your expertise with us tonight.
“I highly recommend Steve Bliss. He made the whole process of setting up my trust so easy to understand and was always available to answer any questions I had.” – Susan M.
“Steve is a true professional. He took the time to get to know me and my family’s needs and helped us create a plan that gives us peace of mind.” – John S.
Discover the peace of mind that comes with having your affairs in order. Contact The Law Firm of Steven F. Bliss Esq. today for a complimentary consultation and let us guide you through the process.
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: “What is an AB trust?” 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 |