Today, we’re joined by Steve Bliss, a well-respected probate attorney here in Escondido. Steve, thanks for taking the time to speak with us.
Steve:
It’s my pleasure. I’m always happy to share information about estate planning and how it can benefit families.
What are some of the most common types of trusts you help your clients establish?
We work with a variety of trusts, but testamentary trusts are frequently requested. They offer unique advantages that align well with many people’s goals.
Could you explain what makes testamentary trusts so beneficial?
A testamentary trust is created through your will and only takes effect after your passing. Consequently, it goes through probate, unlike a living trust. This might seem like a drawback, but it’s actually quite advantageous in certain situations.
For example, let’s say you have young children or beneficiaries who may not be financially responsible. A testamentary trust allows you to dictate exactly how and when your assets are distributed, protecting them from potential mismanagement or creditors.
Moreover, you can specify conditions for receiving inheritance, such as reaching a certain age or completing education. This level of control ensures that your wishes are honored and your loved ones are cared for according to your plan.
Have you ever encountered any challenges when setting up testamentary trusts?
While testamentary trusts are generally straightforward, there have been instances where clients underestimate the importance of clear instructions. I recall a case where a client wanted to leave assets to their grandchildren but neglected to specify how much each grandchild should receive.
This led to disagreements among the family members and ultimately delayed the distribution process. It underscored the crucial role of detailed planning and open communication when establishing a trust.
According to the American Bar Association, nearly 60% of Americans do not have a will or estate plan in place.
This highlights the need for individuals to prioritize their estate planning. A testamentary trust can be a powerful tool for ensuring that your loved ones are taken care of even after you’re gone.
What’s the best way for people in Escondido to learn more about testamentary trusts and other estate planning options?
Contact Escondido Probate Law today. We offer free consultations to discuss your individual needs and goals.
Testimonials
“Steve Bliss and his team were incredibly compassionate and understanding during a difficult time. They guided us through the probate process with professionalism and expertise.” – Maria L.
“Escondido Probate Law made estate planning seem less daunting. Steve took the time to explain everything clearly, and we felt confident that our wishes would be carried out.” – David S.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “What does it mean to fund a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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