A Conversation with San Diego Probate Attorney Steve Bliss
Good afternoon, San Diego! I’m here today with Steve Bliss, a renowned probate attorney based right here in our city. Steve, thank you so much for joining us.
Steve, could you explain to our viewers what a testamentary trust is and how it differs from other types of trusts?
The Basics of Testamentary Trusts
A testamentary trust is unique because it’s created through a will and only takes effect upon the grantor’s death. This contrasts with living trusts, which are established during the grantor’s lifetime. Consequently, a testamentary trust goes through probate, unlike living trusts. Ordinarily, this means the assets in the trust are subject to court oversight and distribution according to the terms outlined in the will.
Testamentary trusts can be incredibly beneficial for specific situations. For example, they’re often used to provide for minor children or beneficiaries with special needs. The trustee named in the will manages the assets on behalf of the beneficiary until they reach a certain age or milestone.
Addressing Potential Challenges
Steve, are there any common challenges that arise when setting up or administering a testamentary trust?
Well, as with any legal instrument, careful planning and execution are crucial. Moreover, it’s important to remember that testamentary trusts go through probate. This process can sometimes be time-consuming and costly. Nevertheless, the benefits often outweigh the drawbacks, particularly when considering the protection a trust offers vulnerable beneficiaries.
I recall a case where a young widow with two small children tragically passed away. She had established a testamentary trust in her will to ensure her children’s financial security. While the probate process took some time, ultimately the trust provided much-needed stability and support for her family during a difficult period.
Studies by the American Bar Association show that approximately 40% of adults in the United States don’t have a will. This highlights the importance of estate planning and ensuring your wishes are carried out, potentially through tools like testamentary trusts.
Seeking Expert Guidance
Steve, what advice would you give to someone considering setting up a testamentary trust?
My advice is simple: consult with an experienced probate attorney. We can help you determine if a testamentary trust is the right fit for your circumstances and guide you through the necessary steps. Remember, proper planning today can safeguard your loved ones tomorrow.
Client Testimonials
“Steve Bliss was incredibly compassionate and understanding during a difficult time in my life. He explained everything clearly and helped me navigate the probate process with ease.”
– Sarah M., San Diego
“San Diego Probate Law provided exceptional service and expertise. I highly recommend them to anyone needing assistance with estate planning or probate matters.”
– John D., La Jolla
Protect your legacy and secure the future of your loved ones. Contact San Diego Probate Law today for a personalized consultation and gain peace of mind knowing your affairs are in capable hands.
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 a trust own vehicles?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |