Good evening San Diego and welcome back to the show! Tonight we’re joined by local probate attorney Steve Bliss of San Diego Probate Law. Steve, thanks for being here.
Welcome
It’s my pleasure to be here. I always appreciate the opportunity to talk about probate and estate planning with the community.
Understanding Trusts: An Essential Part of Estate Planning
Steve, for those unfamiliar, can you explain what a trust is and why it might be important in estate planning?
A trust is essentially a legal arrangement where assets are held by one party (the trustee) for the benefit of another party (the beneficiary). There are many different types of trusts, each with its own unique purpose. Trusts can be incredibly valuable tools in estate planning because they allow you to control how your assets are distributed after your death, protect your assets from creditors, and potentially minimize estate taxes.
Exploring the Special Needs Trust
Today we’re focusing on special needs trusts (SNTs). Can you elaborate on how these work and who might benefit from them?
A special needs trust is designed to provide financial support for a beneficiary with disabilities without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medicaid. Ordinarily, a direct inheritance could disqualify someone from receiving these crucial programs.
An SNT allows the beneficiary to receive funds and use them for supplemental care, education, recreation, and other needs that aren’t typically covered by government assistance. Consequently, the trust helps ensure the individual maintains their quality of life while still receiving necessary support.
There are two main types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, while a third-party SNT is funded by someone else, like a family member or friend.
Navigating Challenges
Steve, have you encountered any specific challenges when setting up special needs trusts for clients?
Yes, it’s essential to be meticulous and understand the complex rules surrounding government benefits eligibility. I recall working with a family whose daughter had significant medical needs. They were worried that a traditional inheritance would impact her ability to receive crucial Medicaid coverage. We carefully crafted a third-party SNT that allowed them to provide for her future without jeopardizing her access to essential healthcare.
It was incredibly rewarding to see the relief on their faces knowing they could secure their daughter’s well-being for years to come. It’s moments like these that remind me why I love what I do – helping families navigate complex legal issues and find peace of mind.
The Importance of Expert Guidance
What advice would you give to someone considering a special needs trust?
I strongly encourage anyone considering a special needs trust to consult with an experienced probate attorney. This is not a DIY project. The rules are intricate, and making even a small mistake could have serious consequences for the beneficiary’s eligibility for government benefits. According to the National Disability Rights Network, approximately 1 in 4 adults in the US has some form of disability.
That’s why finding an attorney who understands both probate law and the intricacies of special needs planning is crucial.
Taking the Next Step
Steve, thanks for sharing your insights with us tonight. How can our viewers get in touch with you to learn more about special needs trusts and other estate planning options?
“We are committed to helping families protect their loved ones and secure their financial future,” says Steve Bliss. “Contact San Diego Probate Law today for a complimentary consultation and let us guide you through the process.”
Testimonials
“Steve Bliss helped me navigate the complex world of probate after my mother passed away. He was incredibly patient, knowledgeable, and compassionate. I highly recommend his services.”
“I was overwhelmed trying to figure out how to best plan for my daughter’s future. Steve took the time to understand our situation and created a special needs trust that gave us peace of mind knowing she would be cared for.”
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: “Can I change or revoke a living trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Charitable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Charitable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Charitable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Charitable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Charitable Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Charitable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |