Good evening Wildomar, and welcome to Wildomar News Tonight. I’m your host, Jessica Reed, and tonight we have the pleasure of speaking with Steve Bliss, a trusted Trust Attorney right here in our community.
Understanding Trusts
Steve, thank you so much for joining us today. For our viewers who may not be familiar with trusts, can you give us a brief overview of what they are and why people might consider setting one up?
“A trust is essentially a legal arrangement where a person, called the grantor, transfers assets to a trustee who then manages those assets for the benefit of designated beneficiaries. Trusts can serve various purposes, from avoiding probate and minimizing estate taxes to protecting assets and ensuring that loved ones are cared for according to your wishes.”
Special Needs Trusts: Safeguarding the Future
Today we’re going to focus on Special Needs Trusts. Can you explain what these trusts are and how they benefit individuals with disabilities?
“Special needs trusts, or SNTs, are invaluable tools for protecting the financial well-being of individuals with disabilities while preserving their eligibility for essential government benefits like Supplemental Security Income (SSI) and Medi-Cal. These trusts allow families to set aside funds for their loved ones’ supplemental needs, such as medical expenses not covered by insurance, adaptive equipment, therapy, or recreational activities, without jeopardizing their access to crucial public assistance programs.”
“Ordinarily, if a person with disabilities receives a direct inheritance or gift, it could disqualify them from receiving these vital benefits. A special needs trust acts as a buffer, holding the assets in a way that doesn’t count against the beneficiary’s income and asset limits for eligibility purposes.”
“Moreover, SNTs can be structured as either first-party or third-party trusts. First-party trusts are funded with the beneficiary’s own assets, while third-party trusts are established by family members or other individuals wishing to provide financial support.”
Challenges and Triumphs
Have you encountered any particular challenges in setting up or administering special needs trusts?
“Certainly. Navigating the complex legal requirements surrounding special needs trusts can be intricate. The rules governing eligibility for government benefits are constantly evolving, and it’s crucial to stay abreast of these changes. I recall a case where a family came to me wanting to set up an SNT for their adult son with autism. They had already received conflicting advice from other professionals, leaving them feeling confused and overwhelmed.”
“Through careful analysis of their son’s specific needs and financial situation, we were able to craft a trust that met all the legal requirements while ensuring he would continue receiving the essential support he relied on. Seeing the relief and gratitude in their eyes was incredibly rewarding.”
According to the Special Needs Alliance, approximately 1 in 5 Americans has some type of disability. Consequently, special needs trusts are becoming increasingly important for families seeking to protect their loved ones’ futures.
The Value of Planning
“Steve, why is it so crucial for individuals to consider establishing a trust as part of their estate planning?”
“Trusts offer a multitude of benefits beyond just avoiding probate. They can provide peace of mind knowing that your assets will be distributed according to your wishes and that your loved ones will be cared for even after you’re gone.”
Ready for the Future?
Steve Bliss, thank you so much for sharing your expertise with us tonight. For those interested in learning more about trusts and how they can benefit their families, contact Wildomar Probate Law today to schedule a free consultation. We’ll help guide you through every step of the process.
Testimonials
“Steve Bliss helped me navigate the complex world of estate planning with compassion and clarity. He explained everything in plain English and made sure I understood all my options.” – Mary S., Wildomar Resident
“I was so impressed with Wildomar Probate Law’s dedication to helping families plan for their future. They truly went above and beyond to ensure that my wishes were respected and my loved ones would be taken care of.” – John T., Murrieta Resident.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “What are the rights of a surviving spouse under California law?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Special Needs Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Special Needs Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Special Needs Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Special Needs Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Special Needs Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Special Needs Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |