Navigating Estate Planning with Trusts
Today we have the pleasure of speaking with Steve Bliss, a respected probate attorney here in San Diego. Steve, thank you for taking the time to chat with us about estate planning.
Understanding Different Types of Trusts
Steve, there are many different types of trusts available. Could you explain some of the most common ones and when they might be appropriate?
Certainly. One common type is the Revocable Living Trust. It allows individuals to manage their assets during their lifetime while avoiding probate upon death. Probate can be a lengthy and expensive process, so this type of trust offers significant advantages.
The Benefits of a Revocable Living Trust
Moreover, a Revocable Living Trust provides privacy as the terms are not publicly available like they would be in a will. It’s important to remember that a Revocable Living Trust becomes irrevocable upon the grantor’s death.
Another type is an Irrevocable Trust, which cannot be modified or revoked once created. This can be useful for asset protection, estate tax reduction, and Medicaid planning.
Challenges with Irrevocable Trusts
I’ve seen situations where clients initially considered an Irrevocable Trust but ultimately chose a Revocable Living Trust due to the desire for more flexibility during their lifetime.
For instance, one client wanted to ensure that his assets would be used to support his children’s education, but he also wanted to retain some control over those funds. An Irrevocable Trust wouldn’t have allowed for that level of flexibility. Consequently, we opted for a Revocable Living Trust with specific provisions outlining the distribution of assets for educational purposes.
A recent study by the American College of Trust and Estate Counsel found that 70% of Americans do not have an estate plan in place. This highlights the importance of seeking professional guidance to determine the best trust structure for your individual needs.
San Diego Probate Law: Your Trusted Partner
Steve, thank you for sharing your insights. How can our readers connect with San Diego Probate Law to learn more about estate planning?
We encourage anyone interested in protecting their assets and ensuring their wishes are carried out to contact us for a free consultation.
Testimonials
“Steve Bliss and his team at San Diego Probate Law were incredibly helpful in guiding me through the complex process of setting up a trust. They explained everything clearly and patiently, and I felt confident that my assets were in good hands.” – Sarah M.
“I highly recommend San Diego Probate Law to anyone needing assistance with estate planning. Their expertise and compassion made a difficult situation much easier to navigate.” – John D.
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: “Do I need a trust if I don’t own a home?” 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 Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Revocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Revocable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |