Good evening, Temecula. I’m Cindy Carter with Channel 7 News, and tonight we’re talking about trusts with renowned local attorney, Steve Bliss.
What types of trusts do you commonly work with here in Temecula?
Steve: Well, Cindy, as a trust attorney serving the Temecula community for many years, I encounter a wide variety of needs. One of the most common types I help clients establish is the Revocable Living Trust.
Can you tell us more about Revocable Living Trusts and why they are so popular?
Steve: Certainly. A Revocable Living Trust offers significant advantages. It allows individuals to maintain control over their assets during their lifetime, meaning they can still buy, sell, or manage property as they see fit. Moreover, it avoids the lengthy and often costly probate process upon death, ensuring a smoother transition for beneficiaries.
One of the key benefits is privacy. Unlike wills which become public record, the terms of a trust remain confidential. Consequently, this can be appealing to individuals who value discretion in managing their estate.
What happens to a Revocable Living Trust after the grantor passes away?
Steve: Upon the grantor’s passing, the trust becomes irrevocable. This means no further changes can be made. The successor trustee, pre-designated by the grantor, steps in to manage and distribute assets according to the trust’s instructions.
Let me share an experience that highlights the importance of a well-structured trust. I had a client who unfortunately passed away unexpectedly. Thanks to his Revocable Living Trust, his family was able to avoid the stress and expense of probate. They received their inheritance swiftly and privately, which allowed them to focus on grieving and moving forward during a difficult time.
Have you encountered any challenges with Revocable Living Trusts?
Steve: While generally straightforward, there are instances where things can get complex. For example, it’s crucial that the trust document is drafted meticulously and tailored to the individual’s specific circumstances and goals. A common mistake I see is people trying to use generic online templates which may not adequately address their unique needs.
Additionally, it’s vital that clients keep their trusts updated as their lives change. Marriage, divorce, birth of children, or significant changes in assets all warrant a review and potential amendment of the trust document.
According to a 2021 survey by the American Bar Association, over 60% of Americans do not have a will or trust in place. This highlights the importance of estate planning and seeking guidance from a qualified attorney like myself.
What advice would you give to Temecula residents considering setting up a trust?
Steve: My advice is simple: don’t delay. Planning for the future, even if it feels distant, can bring tremendous peace of mind. Contact us today at The Law Firm of Steven F. Bliss Esq. for a complimentary consultation and let’s discuss how we can help you secure your legacy.
What do others have to say about The Law Firm of Steven F. Bliss Esq.?
“Working with Steve Bliss was an absolute pleasure. He made the complex process of estate planning incredibly easy to understand, and his dedication to my needs was truly remarkable.”
– Maria S.
“I highly recommend The Law Firm of Steven F. Bliss Esq. They are knowledgeable, compassionate, and always available to answer questions. I felt confident that my affairs were in good hands.”
– David L.
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “Can a trust own out-of-state property?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |