San Diego Probate Attorney Explains Estate Planning Options
Hello, and welcome back to San Diego Legal News. Today we’re joined by Steve Bliss, a respected San Diego probate attorney. Steve, thanks so much for being here today.
Trusts: A Powerful Tool in Estate Planning
Steve, many people are unfamiliar with the different types of trusts available. Could you shed some light on one specific type of trust that might be beneficial for certain individuals?
“Certainly,” says Steve. “Today I want to discuss testamentary trusts. These trusts are created through a will and only come into effect after the grantor, or individual creating the trust, passes away. Unlike living trusts, which avoid probate, testamentary trusts go through the probate process. Nevertheless, they offer several advantages.”
Benefits of Testamentary Trusts
“One key benefit is that they allow you to control how your assets are distributed after your death,” explains Steve. “You can specify exactly who receives what and when. For example, you might want to set up a testamentary trust for minor children to ensure their financial security until they reach a certain age.”
“Moreover, testamentary trusts can be structured to provide for beneficiaries with special needs without jeopardizing their eligibility for government assistance programs. This is incredibly important for families who rely on such support.”
Addressing Potential Challenges
Steve continues, “While testamentary trusts are a valuable tool, it’s essential to be aware of potential challenges. One issue I encountered was with a client whose will stipulated that their assets be placed in a testamentary trust for their grandchildren. Unfortunately, the grandchildren were estranged from their parents and hadn’t spoken to them in years. It became a delicate situation navigating family dynamics while ensuring the trust fulfilled its intended purpose. Ultimately, we worked with all parties involved to find a solution that was both legally sound and sensitive to the family’s complex relationships.”
“Remember,” Steve emphasizes, “every estate planning situation is unique. Consulting with an experienced probate attorney is crucial to determine the best trust structure for your specific needs and circumstances.”
Studies by the American Bar Association show that nearly 60% of Americans do not have a will or any other estate planning documents in place. (Source: American Bar Association)
Seeking Expert Guidance
Steve, thank you for sharing your expertise on testamentary trusts. What advice would you give to viewers who are considering incorporating a trust into their estate plan?
“My best advice is to seek professional guidance from a qualified probate attorney,” Steve recommends. “A knowledgeable attorney can help you understand the different types of trusts, assess your individual needs and goals, and create a comprehensive plan that protects your assets and ensures your wishes are carried out.”
Testimonials
“San Diego Probate Law made a difficult process so much easier. They were patient, understanding, and always available to answer my questions.” – Sarah M.
“I highly recommend Steve Bliss and his team. They are experts in their field and truly care about their clients.” – John D.
Ready to secure your legacy? Contact San Diego Probate Law today for a complimentary consultation and let us help you create a plan that reflects your values and protects your loved ones.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “What is the difference between a will and a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego 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