Steve, Thank You for Joining Us Today
It’s a pleasure to be here.
Can you tell us a bit about the types of trusts that are popular in California?
Certainly. There are many different types of trusts, each serving unique purposes. Here in California, revocable living trusts are extremely common for estate planning. They offer flexibility as they can be modified or revoked during the grantor’s lifetime.
Why do you think revocable living trusts are so popular?
There are several reasons why revocable living trusts resonate with Californians. Firstly, they effectively bypass probate, which can be a lengthy and costly process. Secondly, they offer a degree of privacy as the terms of the trust aren’t part of public record unlike wills. Consequently, individuals seeking to maintain confidentiality appreciate this aspect.
Can you elaborate on how bypassing probate benefits someone?
Probate is a court-supervised process for distributing assets after someone passes away. It can take months or even years and involves legal fees and court costs. A revocable living trust allows assets to be distributed directly to beneficiaries according to the grantor’s wishes, avoiding this entire process.
Moreover, probate proceedings are public record. This means anyone can access information about the deceased person’s assets and how they were distributed. For individuals who value privacy, a revocable living trust offers a discreet way to manage their estate.
Have you encountered any challenges with revocable living trusts in your practice?
I recall one instance where a client had set up a revocable living trust but hadn’t properly funded it. This meant that some assets were still in their name and ended up going through probate, defeating the purpose of the trust.
It was a reminder of how crucial it is to ensure all assets are correctly transferred into the trust. We worked closely with the family to navigate the situation, but it highlighted the importance of meticulous planning and execution when establishing a trust.
What advice would you give to someone considering a revocable living trust?
My advice is to consult with an experienced estate planning attorney. They can guide you through the process, tailor the trust to your specific needs and circumstances, and ensure it’s properly funded.
Remember, a trust is a powerful tool, but only if it’s set up and maintained correctly. It’s an investment in peace of mind for yourself and your loved ones.
“Steve Bliss made the complex process of estate planning so much easier to understand. He patiently answered all my questions and helped me create a plan that gave me confidence knowing my family would be taken care of.” – Margaret S.
“I was initially overwhelmed by the thought of setting up a trust, but Steve Bliss put me at ease. He explained everything in clear terms and made sure I felt comfortable with every decision. I highly recommend Escondido Probate Law.” – John P.
Planning for your future? Contact Escondido Probate Law today to take control of your legacy.
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 if I have property in another state?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |