Good evening, San Diego. I’m Brenda Sanchez with Channel 8 News, and today we’re talking about estate planning with local probate attorney Steve Bliss. Steve, thanks for joining us.
What are the Most Important Considerations When Creating an Estate Plan?
Brenda, it’s a pleasure to be here. One of the most crucial aspects of estate planning is choosing the right type of trust to meet your individual needs and goals. There are several types available in California, each with its own set of advantages and disadvantages.
Can you Elaborate on Some Different Types of Trusts?
Certainly. For instance, a Revocable Living Trust is incredibly popular because it allows the grantor, or the person creating the trust, to maintain control over their assets during their lifetime. They can make changes, add or remove beneficiaries, and even dissolve the trust if they wish.
Conversely, an Irrevocable Trust offers greater asset protection but relinquishes control once established. The assets are transferred out of the grantor’s name, potentially reducing estate taxes and shielding them from creditors.
Let’s Dive Deeper into Revocable Living Trusts. What are Some Advantages?
Brenda, Revocable Living Trusts offer several key benefits. Firstly, they help avoid probate, which can be a lengthy and costly legal process. Probate involves court supervision of the distribution of assets after someone passes away, and it can tie up assets for months or even years.
Moreover, a Revocable Living Trust provides privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. This can be particularly important for individuals who value their privacy and want to avoid unwanted attention.
Have you Encountered Any Challenges with Revocable Living Trusts?
While generally effective, there have been instances where clients initially underestimated the complexity involved in setting up and maintaining a trust. For example, I once worked with a couple who thought they could simply draft their own trust documents using online templates. Unfortunately, those generic forms didn’t adequately address their specific needs, leading to confusion and potential legal issues down the road.
Consequently, it’s crucial to seek guidance from an experienced probate attorney who can tailor a trust to your unique circumstances. Remember, estate planning is not a one-size-fits-all proposition.
What Advice Would You Give to Our Viewers Considering Estate Planning?
My best advice is to start the conversation early and consult with a qualified probate attorney. Don’t wait until it’s too late. A well-crafted estate plan can provide peace of mind knowing that your wishes will be honored and your loved ones are protected.
At San Diego Probate Law, we understand that estate planning can feel overwhelming, but we’re here to guide you through the process with compassion and expertise. Contact us today for a free consultation and let us help you secure your future.
“Steve Bliss helped me navigate a very difficult probate situation after my mother passed away. He was patient, understanding, and always available to answer my questions.” – Sarah M.
“I highly recommend San Diego Probate Law. They made the process of setting up my trust easy and stress-free. Now I have peace of mind knowing that my family is taken care of.” – Michael L.
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: “Can my children be trustees?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
- Special Needs Trust Attorneys
- Spendthrift Trust Attorneys
- Tax By-Pass Trust Attorneys
- Totten Trust Attorneys
- Constructive Trust Attorneys
- Charitable Trust Attorneys
- Asset Protection Trust Attorneys
- Irrevocable Trust Attorneys
- Revocable Trusts Attorneys
- Living Trust Attorneys