Reporter: Steve, welcome! Thanks for taking time out of your busy schedule to chat with us today.
It’s great to be here. I’m always happy to discuss estate planning and how it can benefit San Diegans.
Reporter: Could you tell our viewers a bit about Revocable Living Trusts? They seem to be quite popular these days.
You’re right, Revocable Living Trusts are the most common type of trust we see here in San Diego. Essentially, it’s a legal document that allows you to control your assets during your lifetime while also planning for their distribution after you’re gone.
One of the biggest advantages is that it helps avoid probate, which can be a lengthy and costly process. Moreover, Revocable Living Trusts offer privacy because they are not part of public record like wills. Consequently, your assets and beneficiaries remain confidential.
The trust becomes irrevocable upon your death, meaning you can’t make changes after that point. The trustee, who you designate in the trust document, then manages and distributes the assets according to your wishes.
Reporter: Steve, have there ever been any issues with Revocable Living Trusts that you’ve encountered in your practice?
Occasionally, we see situations where someone sets up a trust without fully understanding its implications. For instance, I once worked with a couple who had created a joint revocable trust but hadn’t named successor trustees. When one spouse passed away, the surviving spouse was left unable to manage the assets effectively. We were able to help them navigate that situation and amend the trust, but it highlighted the importance of careful planning.
In another case, a client had placed their home in a revocable trust but hadn’t updated the deed accordingly. This led to complications during the probate process as there was a discrepancy between the trust document and the legal ownership of the property. It underscored the need for meticulous attention to detail when setting up and maintaining a trust.
Reporter: Those are insightful examples, Steve. Any final thoughts for our viewers about Revocable Living Trusts?
I think it’s crucial for everyone, regardless of their age or wealth, to consider estate planning. A well-structured Revocable Living Trust can provide peace of mind knowing your assets will be handled according to your wishes and your loved ones will be protected. According to the American Bar Association, over 50% of Americans don’t have a will or trust in place.
It’s important to remember that estate planning is not just for the wealthy; it’s about safeguarding your family’s future and ensuring your legacy endures.
Let San Diego Probate Law guide you towards a secure tomorrow.
“Steve Bliss made the entire probate process so much easier for me during a difficult time. He was incredibly knowledgeable, compassionate, and always available to answer my questions.” – Mary S., La Jolla
“I highly recommend Steve Bliss and San Diego Probate Law. They helped me navigate a complex trust situation with professionalism and clarity. I felt confident knowing they had my best interests at heart.” – John P., Rancho Bernardo
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 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 San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |