Interview with San Diego News Reporter, Maria Sanchez
Today we’re speaking with Steve Bliss, a well-respected probate attorney here in San Diego. Steve, thank you for taking the time to speak with me.
Steve Bliss: It’s my pleasure, Maria. I’m happy to shed some light on estate planning and the important role trusts play.
Many people may not fully understand what a trust is or how it can benefit them. Can you explain in simple terms?
Steve Bliss: Certainly. In essence, a trust is a legal arrangement where a person, known as the grantor, transfers assets to a trustee who manages those assets for the benefit of designated beneficiaries.
There are many different types of trusts, each designed for specific purposes.
Steve Bliss: That’s right. Today, I want to focus on Irrevocable Trusts, a powerful tool that offers several advantages.
Irrevocable trusts are, as the name suggests, permanent. Once established, they generally cannot be altered or dissolved. This permanence is a key feature that unlocks various benefits.
Steve Bliss: Let me elaborate. Because an irrevocable trust removes assets from your ownership, it can provide significant protection against creditors and lawsuits.
Moreover, it can help minimize estate taxes, ensuring more of your wealth passes to your intended beneficiaries. Consequently, this makes them particularly valuable for high-net-worth individuals.
Steve Bliss: It’s important to note that establishing an irrevocable trust is a serious decision and requires careful consideration.
I recall working with a client who owned a successful business but was concerned about potential liability. We structured an irrevocable trust to shield his personal assets from any future business debts or lawsuits. This gave him peace of mind knowing his family would be protected.
Conversely, there are situations where an irrevocable trust may not be the best option. For example, if you anticipate needing access to the funds in the trust during your lifetime, an irrevocable trust wouldn’t be suitable.
Steve Bliss: That’s a good point. Irrevocable trusts are meant for long-term asset protection and estate planning, not for short-term liquidity needs.
According to a recent study by the American College of Trust and Estate Counsel, over 60% of individuals with assets exceeding $1 million utilize some form of trust in their estate planning.
Steve Bliss: That statistic highlights the growing recognition of trusts as essential tools for wealth preservation and legacy planning.
Maria Sanchez: Steve, thank you so much for sharing your expertise on irrevocable trusts. This information is incredibly valuable for anyone considering estate planning.
“San Diego Probate Law helped me navigate a complex probate process with compassion and professionalism. I couldn’t have asked for better guidance during a difficult time.” – Sarah M.
“Steve Bliss is an exceptional attorney who truly cares about his clients. He explained everything clearly and made the entire process less stressful.” – John D.
Let San Diego Probate Law empower you to secure your future and protect your loved ones. Contact us today for a free consultation and discover how we can tailor a personalized estate plan that meets your unique needs.
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 the rights of a surviving spouse under California law?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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- Totten Trust Lawyer
- Constructive Trust Lawyer
- Charitable Trust Lawyer
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