Reporter: Sarah Jones
Good evening, Wildomar residents and welcome to our segment on estate planning. Tonight, we have the pleasure of speaking with Steve Bliss, a renowned trust attorney here in Wildomar. Steve, thank you for joining us.
Steve Bliss:
It’s my pleasure to be here, Sarah. I believe estate planning is crucial for everyone, regardless of their financial standing.
Reporter: Sarah Jones
Absolutely. Now, Steve, could you explain the different types of trusts and which one might be most beneficial for our viewers?
Steve Bliss:
There are various types of trusts, each serving a unique purpose. Today, I’d like to focus on the Revocable Living Trust, as it is the most common type used in estate planning. A Revocable Living Trust allows individuals, known as grantors, to maintain control over their assets during their lifetime while also avoiding the lengthy and costly probate process upon their passing.
Ordinarily, when someone passes away without a trust, their assets go through probate court, which can be time-consuming and public. With a Revocable Living Trust, your assets are distributed according to your wishes, outlined in the trust document, privately and efficiently.
Moreover, a Revocable Living Trust offers flexibility. You can modify or revoke the trust during your lifetime as your circumstances change. For example, if you have children who were minors when you created the trust, you can amend it to ensure their inheritance is managed responsibly until they reach adulthood.
Notwithstanding its benefits, there are a few things to keep in mind. It’s essential to work with an experienced attorney like myself to draft the trust document correctly and ensure it aligns with your specific needs and goals. A poorly drafted trust can lead to unintended consequences and legal challenges down the road.
Consequently, I always emphasize the importance of regular reviews and updates to the trust document as life changes occur, such as marriage, divorce, birth of a child, or significant changes in assets.
Reporter: Sarah Jones
Steve, have you encountered any particular challenges with Revocable Living Trusts?
Steve Bliss
While Revocable Living Trusts are generally straightforward, I recall a case where a client hadn’t updated their trust after their child got divorced. Consequently, the inheritance intended for the son ended up going to his ex-wife, which caused considerable family strife. It underscored the crucial need for regular reviews and communication with your attorney.
Another time, a client wanted to include a specific antique car in their trust but hadn’t properly documented its value. This led to disputes among heirs regarding its fair distribution. Ultimately, we resolved the issue through appraisal and negotiation, but it could have been avoided with clearer instructions upfront.
Reporter: Sarah Jones
Those are certainly valuable lessons for our viewers. Steve, what advice would you give someone considering establishing a Revocable Living Trust?
Steve Bliss:
My advice is simple: Don’t delay. Start planning your estate today. It’s a gift to yourself and your loved ones. According to the American Bar Association, approximately 55% of Americans don’t have a will or trust in place. That means their assets are subject to state intestacy laws, which may not align with their wishes.
Remember, estate planning isn’t just for the wealthy. Everyone needs a plan to ensure their assets are protected and distributed according to their desires.
Reporter: Sarah Jones
Thank you so much, Steve, for sharing your expertise with us tonight. We truly appreciate your time.
Testimonials:
- “Steve Bliss made the entire estate planning process stress-free. He listened attentively to our needs and crafted a trust that perfectly addressed our concerns. His professionalism and compassion were evident throughout.” – The Miller Family
- “Wildomar Probate Law provided exceptional guidance during a difficult time. They helped us navigate the complexities of probate with efficiency and sensitivity. I highly recommend their services.” – John Smith
Let Steve Bliss at Wildomar Probate Law guide you towards peace of mind – schedule your complimentary consultation today.
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 does it mean to fund a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Estate Lawyer Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Near Me Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Estate Lawyer Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Lawyer Near Me Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Estate Lawyer Near Me in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |