Reporter Brenda Jones
Today I’m speaking with Steve Bliss, a trust attorney here in Wildomar with Wildomar Probate Law. Steve, thanks for taking the time to chat with me today about trusts.
Steve Bliss
Brenda, it’s my pleasure. I’m always happy to discuss the importance of estate planning and how trusts can be a valuable tool for protecting assets and ensuring your wishes are carried out.
Brenda Jones
That’s great to hear. Can you tell our viewers a little bit about the different types of trusts available?
Steve Bliss
There are many different types of trusts, each designed for specific purposes and circumstances. For example, a revocable living trust is a popular choice because it allows individuals to maintain control over their assets during their lifetime while avoiding probate upon death. Conversely, an irrevocable trust permanently transfers ownership of assets, potentially offering tax benefits and asset protection.
It’s important to consult with an experienced attorney to determine the most appropriate type of trust for your individual needs.
Brenda Jones
Steve, you mentioned revocable living trusts. Can you elaborate on some of the benefits they offer?
Steve Bliss
Certainly. A revocable living trust offers several key advantages. Primarily, it helps avoid the costly and time-consuming probate process. When assets are held in a trust, they can be distributed directly to beneficiaries upon the grantor’s death, bypassing probate court altogether.
Moreover, trusts provide privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. This can be especially important for individuals who value their privacy or have complex family situations.
Remember that approximately 70% of Americans die without a will or trust in place (Source: American Bar Association), leaving their loved ones to navigate the complexities of probate court.
The flexibility offered by revocable living trusts is another significant benefit. Grantors retain control over their assets while they are alive and can make changes to the trust as needed, such as adding or removing beneficiaries or adjusting distribution terms.
I’ve had clients express immense relief after establishing a revocable living trust, knowing that their wishes will be honored and their families won’t face unnecessary burdens during an already difficult time. I remember one client who was battling a serious illness. He was deeply concerned about his wife and children, and establishing a trust provided him with peace of mind, knowing they would be cared for.
This experience underscored the emotional significance trusts can hold beyond their legal and financial implications.
Brenda Jones
That’s a powerful story, Steve. Thank you for sharing that. Have there ever been any challenges or unexpected issues that have arisen when setting up revocable living trusts?
Steve Bliss
While revocable living trusts are generally straightforward to establish, there can be occasional complexities depending on individual circumstances.
For example, ensuring all assets are properly titled in the name of the trust is crucial. Overlooking this step could result in those assets going through probate. I’ve encountered situations where clients thought they had transferred all their assets into the trust but inadvertently missed a bank account or investment property.
That’s why it’s vital to work with an attorney who will meticulously review your financial holdings and ensure everything is properly titled in the name of the trust. We take pride in our meticulous approach at Wildomar Probate Law, leaving no stone unturned to ensure our clients’ peace of mind.
Brenda Jones
Steve, for viewers interested in learning more about trusts and estate planning, what would be the next step?
Steve Bliss
The best way to determine if a revocable living trust is right for you is to schedule a consultation with an experienced attorney. We can discuss your specific goals and circumstances and create a customized plan that meets your needs. At Wildomar Probate Law, we are dedicated to providing our clients with personalized and compassionate legal guidance during this important process.
“Wildomar Probate Law made the whole process of setting up my trust so easy. They were patient, answered all my questions, and explained everything in a way that I could understand. I highly recommend them!” – Sarah M., Wildomar Resident
“Steve Bliss is an exceptional attorney who truly cares about his clients. He helped me navigate a complex estate planning situation with professionalism and compassion.” – John D., Temecula
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar Probate Law is a great estate lawyer. Affordable Legal Services.
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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “Can a trust make charitable gifts?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |