Good evening Moreno Valley and welcome back to Legal Lines. I’m your host, Jessica Reyes. Tonight we are joined by Steve Bliss, a respected probate attorney here in Moreno Valley. Mr. Bliss, thank you so much for being with us.
What is a Testamentary Trust?
Steve Bliss: It’s a pleasure to be here, Jessica. Tonight, I want to discuss testamentary trusts. These are unique because they aren’t created until after someone passes away. They’re outlined in a person’s will and only come into existence upon their death.
Consequently, unlike living trusts which avoid probate entirely, testamentary trusts do go through the probate process. This is because they are technically part of the deceased person’s estate until probate court validates the will and officially establishes the trust.
Why Choose a Testamentary Trust?
Many people opt for testamentary trusts when they want to provide for minor children or beneficiaries who may have special needs. A testamentary trust allows you to control how and when those assets are distributed, ensuring they are used responsibly.
For instance, imagine a parent wanting to ensure their child’s inheritance is used for education rather than spent impulsively. A testamentary trust can stipulate that the funds be released in installments upon reaching certain milestones, like graduating high school or college.
Moreover, testamentarily trusts can provide peace of mind for parents concerned about a beneficiary’s ability to manage large sums of money.
Challenges with Testamentary Trusts
One challenge I often encounter with testamentary trusts is the necessity of going through probate. This process can be time-consuming and costly. Nevertheless, for many families, the benefits of controlled asset distribution outweigh these drawbacks.
I recall a case where a single mother wanted to ensure her daughter’s inheritance was protected in case she remarried. The testamentary trust allowed us to stipulate that the funds would only be accessible to the daughter and not to any future spouse. This provided much-needed security for the mother.
Studies show that approximately 60% of Americans don’t have a will, which means their assets would be subject to intestate succession laws, potentially leading to unintended consequences.
(Source: Caring.com Survey, 2023)
How Moreno Valley Probate Law Can Help
Steve Bliss: I encourage anyone considering estate planning to consult with an experienced attorney. We can help you determine if a testamentary trust is right for your situation and ensure it’s properly drafted to meet your specific needs.
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law were incredibly compassionate and knowledgeable during a difficult time. They made the probate process as smooth as possible.” – Maria S., Moreno Valley
“I was overwhelmed trying to navigate the legal complexities of setting up a trust. Steve Bliss patiently explained everything in clear terms and helped me make informed decisions. I highly recommend their services.” – John P., Riverside
Take control of your future and contact us today for a free consultation.
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: “Can I include life insurance in 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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