Good evening Moreno Valley and welcome back to our segment on estate planning essentials. I’m here with local probate attorney Steve Bliss to discuss the importance of trusts in protecting your assets and ensuring your wishes are carried out after you’re gone.
What Types of Trusts Are Available?
Steve, can you shed some light on the different types of trusts available to individuals?
“There are many types of trusts, each tailored to specific needs and goals. One common type is a revocable living trust. This allows individuals to manage their assets during their lifetime while avoiding probate upon death. Another type is an irrevocable trust, which offers greater asset protection but sacrifices flexibility.”
Revocable Living Trusts Explained
Let’s focus on revocable living trusts for a moment. Can you explain the benefits of this particular type?
“Revocable living trusts are extremely popular because they offer several key advantages,” Steve explains. “Firstly, they bypass probate, which can be a lengthy and costly process. This means your assets will be distributed to your beneficiaries more quickly and efficiently. Secondly, revocable living trusts provide privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. Consequently, your financial affairs are not open for public scrutiny.”
“Moreover, revocable living trusts allow you to maintain control over your assets during your lifetime. You can amend or revoke the trust as needed, ensuring it always reflects your current wishes. Nevertheless, it’s important to remember that upon your death, the trust becomes irrevocable and the assets are distributed according to your predetermined instructions.”
Challenges with Revocable Living Trusts
“Have you encountered any challenges with revocable living trusts in your practice?” I ask.
“While generally straightforward, setting up a trust does require careful planning and attention to detail,” Steve responds. “I recall one instance where a client had not updated their trust after a significant life change, such as the birth of a child. This oversight created complications and ultimately delayed the distribution of assets. Accordingly, it’s crucial to review and update your trust regularly to ensure it accurately reflects your current circumstances.”
“In another case, a client was hesitant to transfer all their assets into the trust due to concerns about losing control. We addressed these anxieties by explaining the benefits of maintaining control during their lifetime while ensuring a smooth transition upon their passing. Open communication and building trust with clients are paramount in navigating these sensitive matters.”
“According to a study by the AARP, over 60% of Americans do not have a will or trust in place,” Steve shares. “This lack of planning can leave loved ones facing significant financial and emotional burdens during an already difficult time.”
Next Steps
Steve, what advice would you give to viewers who are considering setting up a trust?
“I encourage anyone interested in protecting their assets and ensuring their legacy to consult with an experienced probate attorney,” Steve advises. “We can guide you through the process, explain the different types of trusts available, and help you create a plan that meets your unique needs.”
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law made the entire trust creation process seamless and stress-free. They patiently answered all my questions and ensured I understood every step. I highly recommend their services.”
-Maria Garcia, Moreno Valley Resident
“After losing my spouse, I felt overwhelmed with managing our estate. Steve Bliss provided compassionate guidance and helped me navigate the probate process with ease. He truly went above and beyond to support me during a difficult time.”
-John Smith, Moreno Valley Resident
Call to Action
Ready to take control of your future? Contact Moreno Valley Probate Law today for a free consultation and let us help you build a secure tomorrow.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley 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 Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What assets should I put into a living trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Living Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Living Trust Attorney Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Living Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Living Trust Attorney |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Living Trust Attorney Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Living Trust Attorney in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |