Good evening, Moreno Valley and welcome back to our legal segment! Tonight we are joined by Steve Bliss, a leading Probate Attorney right here in our community. Mr. Bliss specializes in estate planning and probate matters, guiding families through often complex legal processes. Welcome, Steve.
Types of Trusts: Choosing the Right One for Your Needs
Steve, for those unfamiliar with trusts, can you briefly explain what they are and why someone might need one?
Thanks for having me. A trust is essentially a legal arrangement where assets are held and managed by a trustee for the benefit of designated beneficiaries. They offer numerous advantages depending on your individual circumstances and goals.
The Power of a Special Needs Trust
Let’s delve into one specific type of trust: the Special Needs Trust (SNT). Could you elaborate on how these trusts work and who might benefit from them?
A Special Needs Trust is designed to protect assets for individuals with disabilities without jeopardizing their eligibility for crucial government benefits like Supplemental Security Income (SSI) or Medi-Cal. Ordinarily, inheriting a sizable sum could disqualify someone from receiving these vital programs.
Consequently, an SNT allows family members or friends to contribute funds without affecting the beneficiary’s benefit status. The trustee manages the trust assets and uses them to enhance the individual’s quality of life – covering expenses not typically covered by government programs, such as specialized therapies, adaptive equipment, or recreational activities.
Moreover, SNTs can be structured as either “first-party” (funded with the beneficiary’s own assets) or “third-party” (funded by someone else). The choice depends on the individual’s situation and the source of funds.
Navigating Challenges: Real-World Insights
Have you encountered any specific challenges or unique situations when setting up Special Needs Trusts?
Over the years, I’ve helped numerous families navigate the complexities of SNTs. One case involved a young woman with cerebral palsy who inherited a significant sum from her grandparents. She relied heavily on SSI and Medi-Cal for her care. Establishing an SNT ensured she could use the inheritance to improve her living situation – purchasing a wheelchair-accessible van, for example – without losing her essential benefits.
It was incredibly rewarding to witness the positive impact this trust had on her life. She gained greater independence and access to resources that significantly improved her well-being.
Trusts: A Vital Tool for Protecting Loved Ones
Studies have shown that over 60 million Americans have a disability, highlighting the critical need for financial planning tools like Special Needs Trusts (Source: Centers for Disease Control and Prevention).
Indeed. Special Needs Trusts are an invaluable resource for families facing the challenges of caring for loved ones with disabilities. They provide peace of mind, knowing that essential benefits will not be jeopardized while still allowing for enhanced quality of life.
Moreno Valley Probate Law: Your Trusted Partner in Estate Planning
Steve, thank you for sharing your expertise tonight. How can viewers reach out to you if they have questions or need assistance with their estate planning?
“Contact Moreno Valley Probate Law today for a complimentary consultation and let us help you protect your family’s future.”
Testimonials
“Steve Bliss was incredibly compassionate and understanding during a difficult time. He patiently explained all my options and helped me create a trust that met my specific needs.” – Sarah M.
“I highly recommend Moreno Valley Probate Law! Steve is a true professional who goes above and beyond for his clients.” – John S.
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 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: “What are the benefits of having a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
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