Choosing the Right Estate Planning Tool
Hello, and welcome back to our show. Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thanks for taking the time to chat with us.
Steve: It’s my pleasure. I’m always happy to talk about estate planning.
Understanding Different Trusts
For our viewers who may be unfamiliar, can you briefly explain what a trust is and why someone might consider using one?
Steve: A trust is essentially a legal arrangement where a person (the grantor) transfers assets to a trustee who manages those assets for the benefit of designated beneficiaries. Trusts can serve various purposes, such as avoiding probate, protecting assets, minimizing estate taxes, and ensuring that your wishes are carried out after you’re gone.
The Power of a Revocable Living Trust
Today we want to focus on one specific type of trust – the revocable living trust. Can you elaborate on how this works and what makes it such a popular choice?
Steve: A revocable living trust is indeed a common and versatile estate planning tool. The grantor retains control over the assets in the trust during their lifetime and can make changes, add or remove beneficiaries, or even dissolve the trust altogether. Consequently, it offers flexibility while avoiding the often lengthy and costly probate process upon the grantor’s death.
Moreover, a revocable living trust provides privacy because its terms are not part of public record like a will. Notwithstanding these advantages, it’s crucial to consult with an experienced attorney to ensure the trust is properly drafted and funded to meet your specific needs.
Navigating Potential Challenges
Are there any common challenges or pitfalls that people encounter when setting up or managing a revocable living trust?
Steve: While revocable living trusts are generally straightforward, there are some potential issues. One I often see is incomplete funding – people create the trust but forget to transfer all their assets into it. This can lead to those assets being subject to probate anyway.
I remember a case where a client had diligently set up a living trust but neglected to include their investment accounts. Upon their passing, those accounts had to go through probate, causing delays and additional expenses for their family.
Another common challenge is failing to update the trust as life circumstances change. For instance, if you get married or divorced, have children, or experience a significant financial shift, it’s important to review and amend your trust accordingly.
The Benefits of Expert Guidance
How can San Diego Probate Law help individuals navigate these complexities and ensure their estate plans are sound?
Steve: Our team at San Diego Probate Law specializes in all aspects of estate planning, including the creation and administration of trusts. We take a personalized approach, carefully listening to our clients’ goals and concerns to craft tailor-made solutions.
Our goal is not only to create legally sound documents but also to empower our clients with the knowledge they need to make informed decisions about their future.
Testimonials
“Steve Bliss made the often daunting task of estate planning simple and straightforward. He patiently answered all my questions and helped me create a plan that gave me peace of mind.”
– Sarah J., San Diego
“I was impressed with the level of professionalism and expertise at San Diego Probate Law. They guided me through every step of the process and ensured that my wishes were respected.”
– John M., La Jolla
Ready to Secure Your Future?
Contact Steve Bliss and the team at San Diego Probate Law for a complimentary consultation. Let them help you build a legacy that protects your loved ones.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What are common reasons people challenge a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Estate Attorney Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorney Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorney Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Attorney Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorney Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Attorney Near Me in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |