Hello everyone, and welcome back! This is Brenda Jones reporting for Moreno Valley News. Today we’re joined by Steve Bliss, a respected probate attorney serving the Moreno Valley community. Mr. Bliss specializes in helping individuals navigate the often-complex world of estate planning.
Understanding Trusts: What are they and why do I need one?
Steve, can you shed some light on trusts for our viewers? Many people aren’t familiar with them, and it seems like a complicated topic.
“Absolutely Brenda. In essence, a trust is a legal arrangement where a third party, known as the trustee, holds and manages assets for the benefit of another individual or individuals, called beneficiaries. Trusts offer several advantages in estate planning,” Steve explains.
He goes on to elaborate that different types of trusts exist, each serving specific purposes. For example, a revocable living trust allows you to retain control over your assets during your lifetime while avoiding probate upon your passing. Conversely, an irrevocable trust offers greater asset protection but relinquishes control once established.
The Power of the Irrevocable Trust
“Brenda, let’s focus on irrevocable trusts for a moment. They often get misunderstood.” Steve leans forward, emphasizing his point. “These trusts are designed for individuals seeking stronger asset protection and potential estate tax benefits. Once assets are transferred into an irrevocable trust, they are generally removed from your taxable estate.”
He explains how this can be particularly beneficial for high-net-worth individuals looking to minimize their estate tax burden or protect assets from potential creditors. “Consequently,” Steve adds, “irrevocable trusts can provide peace of mind knowing that your assets are safeguarded for the future generations.”
Steve pauses, reflecting on his years of experience. “I recall working with a family whose business faced significant litigation risks. By establishing an irrevocable trust, we were able to shield a portion of their assets from potential claims, ultimately protecting their financial security and allowing them to focus on rebuilding their business.”
“According to the American Bar Association, approximately 40% of Americans have no estate plan whatsoever,” Steve notes, highlighting the importance of planning for the future. “Creating an irrevocable trust can be a powerful tool in safeguarding your legacy and ensuring your wishes are carried out.”
Contacting Moreno Valley Probate Law
“Thank you so much for sharing your expertise with us today, Steve. We truly appreciate it. For anyone watching who might need assistance with estate planning, I highly encourage you to reach out to Moreno Valley Probate Law. They can guide you through the process and help you make informed decisions about your future.
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- “Steve Bliss and his team are fantastic! They made a stressful situation so much easier for me.”
- – Mary T., Moreno Valley, CA
Moreno Valley Probate Law – Crafting your future with care and expertise. Contact them 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: “What is community property and how does it affect my trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |