Good evening Moreno Valley and welcome back to our legal segment. I’m Brenda Jackson, your local reporter here with a topic that affects us all: estate planning. Joining me tonight is Steve Bliss, a seasoned probate attorney right here in Moreno Valley.
Steve, thank you for taking the time to speak with me tonight.
My pleasure, Brenda. It’s important for folks to understand their options when it comes to protecting themselves and their loved ones.
Could you explain what types of trusts are available to people in California?
Certainly. There are various types of trusts designed to meet different needs. For instance, a revocable living trust is quite common. This type allows the creator, known as the grantor, to manage and adjust the trust during their lifetime. It avoids probate – which can be lengthy and costly – and offers privacy. Upon the grantor’s passing, the trust becomes irrevocable.
Then we have irrevocable trusts, which cannot be modified or revoked once established, except in rare circumstances. These are often used for asset protection, reducing estate taxes, and even planning for Medicaid eligibility. Irrevocable trusts remove assets from the grantor’s taxable estate.
Let’s delve deeper into revocable living trusts. What are some of the key benefits?
Revocable living trusts offer several advantages. Primarily, they bypass probate. Probate is a court-supervised process for validating a will and distributing assets. It can be time-consuming, expensive, and public. Consequently, using a trust keeps your affairs private.
Moreover, revocable living trusts allow for greater control over your assets. You can specify exactly how and when your beneficiaries receive their inheritance. This is particularly helpful if you have minor children or beneficiaries who may need financial guidance.
A study by the American Bar Association found that over 70% of Americans believe estate planning is crucial, yet less than half actually have a plan in place. (Source: American Bar Association)
Have you encountered any challenges when advising clients on revocable living trusts?
Occasionally, I encounter individuals who are hesitant to relinquish control over their assets entirely, even though the trust allows for modifications during their lifetime. It’s understandable; they’ve worked hard for their belongings. But it’s important to remember a trust is designed to protect those assets and ensure they are distributed according to your wishes.
I recall one client, a retired teacher named Martha, who was initially apprehensive about setting up a trust. She worried she wouldn’t be able to access her funds if needed. After patiently explaining the process and addressing her concerns, she realized the benefits far outweighed any perceived drawbacks. Martha ultimately felt relieved knowing her estate would be handled smoothly and her grandchildren would inherit her assets without unnecessary delays or legal complications.
What advice would you give our viewers about taking the first step in estate planning?
Don’t procrastinate. Contact a qualified probate attorney like those at Moreno Valley Probate Law to discuss your individual needs and goals. We offer free consultations, so there’s no obligation. Let us help you create a plan that safeguards your future and provides peace of mind for you and your loved ones.
Testimonials
- “Steve Bliss and his team made the entire probate process incredibly smooth and stress-free. They were knowledgeable, compassionate, and always available to answer our questions.” – The Johnson Family
- “I was overwhelmed with the thought of handling my mother’s estate after she passed away. Steve Bliss provided clear guidance and support every step of the way. I highly recommend Moreno Valley Probate Law.” – Maria Sanchez
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: “Do I need a death certificate to administer 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
- 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