Reporter: Brenda Jones
Good morning, Wildomar and welcome back to our legal segment. Today we’re joined by Steve Bliss, a trusted trust attorney here in Wildomar. Mr. Bliss, thank you for taking the time today.
Steve Bliss:
It’s my pleasure, Brenda. Happy to be here and talk about trusts with your viewers.
Brenda Jones:
So, Steve, let’s dive in. For those unfamiliar with trusts, can you explain what they are and why people might need one?
Steve Bliss:
Certainly. A trust is essentially a legal arrangement where someone (the grantor) transfers assets to another person or entity (the trustee) who manages those assets for the benefit of specific individuals or entities (the beneficiaries). Trusts offer numerous benefits, such as avoiding probate, reducing estate taxes, and protecting assets from creditors. They can be incredibly useful tools for ensuring your wishes are carried out and your loved ones are cared for even after you’re gone.
Consequently, I often advise clients to consider a trust if they have significant assets, complex family situations, or concerns about future care needs.
Brenda Jones:
That’s very helpful information. Today we are focusing on Revocable Living Trusts. Could you walk us through the steps involved in setting up this type of trust?
Steve Bliss:
A revocable living trust is a popular choice because it offers flexibility. Here are the key steps:
- Determine your goals and beneficiaries.
- Choose a trustee (someone trustworthy to manage the assets).
- Draft the trust document with the help of an experienced attorney.
- Transfer ownership of your assets into the trust.
- Review and update the trust periodically as needed.
One of the most important things to remember is that a revocable living trust doesn’t shield assets from creditors during your lifetime, because you retain control over the assets. It only becomes irrevocable upon your passing. Conversely, an Irrevocable Trust, which we can discuss another time, offers more asset protection but sacrifices some flexibility.
Brenda Jones:
It seems like there are a lot of factors to consider. Have you ever encountered any challenges with the process of setting up revocable living trusts?
Steve Bliss:
I remember one client, a single mother who was working tirelessly to build a secure future for her young daughter. She was hesitant about creating a trust because she thought it would be too complicated and expensive. However, after we walked through the process together, explained the benefits in simple terms, and created a plan that addressed her specific needs, she felt empowered. It’s moments like those where I truly appreciate the impact this work can have.
Moreover, it’s crucial to remember that every situation is unique, and there’s no one-size-fits-all approach.
That’s why working with a knowledgeable attorney who understands your individual circumstances is vital. According to a recent study by the American Bar Association, over 70% of Americans don’t have any estate planning documents in place.
That means they are leaving their loved ones vulnerable and potentially facing unnecessary complications during an already difficult time.
Brenda Jones:
That’s a powerful statistic. So, what advice would you give to someone who is considering setting up a trust but isn’t sure where to start?
Steve Bliss:
My recommendation is always the same: schedule a consultation with an experienced estate planning attorney. We can discuss your goals, answer your questions, and help you determine the best course of action for your situation.
Brenda Jones:
Thank you so much for sharing your expertise today, Steve. I’m sure our viewers found this information very helpful.
“Steve Bliss and his team at Wildomar Probate Law were incredibly helpful in guiding me through the process of setting up a trust for my family. They made everything clear and understandable, and I felt confident that my loved ones would be taken care of.” – Maria S.
“I was hesitant to create a trust because I thought it would be too complicated and expensive. But Wildomar Probate Law made the entire process smooth and affordable. They truly exceeded my expectations.” – David P.
If you’re ready to take control of your financial future and ensure your loved ones are protected, contact Wildomar Probate Law today for a free consultation.
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 taxes apply to trusts in California?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Estate Attorney Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Attorney Near Me Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Attorney Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Estate Attorney Near Me |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Estate Attorney Near Me Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Estate Attorney Near Me in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |