Choosing the Right Trust for Your Needs
Welcome back to Escondido Legal News. Today we’re joined by Steve Bliss, a highly respected probate attorney serving the Escondido community. Steve, thank you for joining us.
It’s my pleasure to be here. I always enjoy sharing information about estate planning and helping people understand their options.
The Benefits of a Testamentary Trust
Steve, for viewers who may not be familiar with all the different types of trusts, could you explain one type that you find particularly beneficial?
Certainly. One type of trust I often recommend to my clients is a testamentary trust. As the name suggests, this type of trust is created through your will and only takes effect after you pass away. Consequently, it goes through probate, unlike living trusts.
Now, some may see that as a drawback, but it can actually be very advantageous in certain situations. Testamentary trusts are particularly useful when you have minor children or beneficiaries who may not be able to manage their inheritance responsibly. You can specify in your will exactly how and when the funds will be distributed, ensuring they are used for the beneficiary’s benefit.
For example, I had a client with two young daughters. She wanted to make sure they would have financial support through college but also be protected from making impulsive decisions with a large sum of money at a young age. We established a testamentary trust that would distribute funds for their education expenses and then provide them with the remainder when they reached a certain age.
Avoiding Probate Pitfalls
That’s a great example, Steve. Do you often encounter issues with testamentary trusts during probate?
Occasionally, there can be challenges. One common issue arises when the will doesn’t provide clear and specific instructions for the trust. This can lead to delays and disputes among beneficiaries.
It’s crucial that the terms of the testamentary trust are well-defined in the will. A skilled estate planning attorney like myself can help ensure everything is in order and avoid potential conflicts down the road.
Protecting Your Loved Ones: The Value of Planning
Steve, what advice would you give to our viewers who are considering setting up a trust?
“Start the conversation early. Don’t wait until a crisis arises. A well-crafted estate plan can bring peace of mind and protect your loved ones during difficult times. Remember, it’s not just about protecting assets; it’s about ensuring your wishes are honored and your family is taken care of.”
“More than 50% of Americans die without a will,” according to the American Bar Association. “This can lead to significant complications and heartache for their families.”
Experience You Can Trust
Steve, thank you so much for sharing your expertise with us today.
“My pleasure. Remember, Escondido Probate Law is here to guide you through the complexities of estate planning. Contact us for a free consultation and let’s discuss how we can help you create a plan that meets your unique needs.”
- “Steve Bliss and his team at Escondido Probate Law were absolutely instrumental in helping me navigate the probate process after my mother passed away. They made a difficult time so much easier.” – Maria S.
- “I was overwhelmed with all the legal jargon involved in setting up a trust, but Steve Bliss patiently explained everything and helped me make informed decisions. I highly recommend Escondido Probate Law.” – John B.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 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: “Do I need a new trust if I move to California?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
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