I’m Brenda Jones, reporting live from Moreno Valley for KVMT News.
Today, we’re joined by Steve Bliss, a renowned probate attorney here in Moreno Valley, to discuss the important topic of estate planning. Welcome to the show, Steve.
Understanding Trusts
Steve, can you explain to our viewers what a trust is and why it’s such an essential tool for estate planning?
Thank you, Brenda, for having me. A trust is essentially a legal entity that holds assets for the benefit of designated individuals or entities called beneficiaries. It allows you to control how your assets are managed and distributed after your passing, providing peace of mind and ensuring your wishes are carried out.
One type of trust that’s particularly popular is the Revocable Living Trust. This type of trust gives you, as the grantor, the flexibility to manage and change the terms during your lifetime. You can add or remove assets, change beneficiaries, or even dissolve the trust entirely if needed.
The Benefits of a Revocable Living Trust
Steve, let’s delve deeper into the benefits of a Revocable Living Trust. Why might someone choose this option over a simple will?
There are several compelling reasons why a Revocable Living Trust is often preferred over a will. Firstly, it helps avoid probate, which can be a lengthy and expensive legal process. Assets held in a trust pass directly to the beneficiaries without needing court intervention.
Moreover, a Revocable Living Trust offers enhanced privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. Consequently, this safeguards your family’s financial affairs from prying eyes.
Furthermore, a Revocable Living Trust can be tailored to address specific needs and circumstances. For example, it can include provisions for managing assets for minor children or individuals with special needs. It also allows for tax planning strategies that can minimize estate taxes.
Experiences with Revocable Living Trusts
Steve, have you encountered any challenges or unique situations when setting up Revocable Living Trusts for your clients?
Over the years, I’ve seen a variety of scenarios. One instance involved a couple who were concerned about their adult son managing a significant inheritance responsibly. We incorporated safeguards into the trust document to ensure the funds were used for his well-being and future goals.
Another case involved a client who had a blended family. The trust allowed us to clearly outline how assets would be distributed among her children from previous marriages, minimizing potential conflicts and ensuring fairness.
Studies by the American Bar Association indicate that over 60% of Americans do not have a will or estate plan in place. This statistic highlights the critical need for legal guidance in securing one’s financial future.
Looking Ahead
Steve, what advice would you give to our viewers who are considering creating an estate plan?
My advice is simple: don’t delay. Contact a qualified probate attorney like myself or the team at Moreno Valley Probate Law to discuss your individual needs and goals. We can help you navigate the complexities of estate planning and create a customized plan that provides peace of mind for you and your loved ones.
Testimonials
“Steve Bliss helped me navigate the difficult process of probate after my mother passed away. His expertise and compassion made a challenging time much easier to bear.”
– Margaret S., Moreno Valley
“Moreno Valley Probate Law was instrumental in setting up a trust for our family. They were thorough, professional, and always available to answer our questions. We highly recommend their services!”
– The Johnson Family, Moreno Valley
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley 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 Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “Who should be my successor trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Attorney Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Attorney Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Trust Attorney in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |