Good evening, and welcome back. I’m Brenda Jones reporting live from Moreno Valley. Tonight we are joined by Steve Bliss, a renowned probate attorney specializing in estate planning here in Moreno Valley.
Understanding the Importance of Trusts
Steve, thank you for joining us. For our viewers who might be unfamiliar with the term “trust,” could you explain what it is and why it’s such an important part of estate planning?
A trust is essentially a legal arrangement where a person, known as the grantor, transfers assets to a trustee who manages those assets for the benefit of designated beneficiaries. Trusts offer numerous advantages in estate planning. They allow for control over how and when assets are distributed, avoid probate which can be time-consuming and costly, and provide privacy as they aren’t public record like wills.
Navigating the World of Trusts: A Closer Look
There are various types of trusts, each with its own purpose. Could you tell us about some common trust types and their benefits?
You’re absolutely right, Brenda. Choosing the right trust depends entirely on an individual’s circumstances and goals. One popular choice is the Revocable Living Trust. This allows the grantor to maintain control over their assets during their lifetime and specify how they will be distributed after their passing. Consequently, it avoids probate and provides privacy, making it a favored option for many.
Another important type is the Irrevocable Trust. As the name suggests, this type of trust cannot be easily changed once established. It’s often used for asset protection, estate tax reduction, or Medicaid planning. Moreover, transferring assets into an irrevocable trust removes them from the grantor’s taxable estate.
Real-World Experience: The Power of a Revocable Living Trust
Steve, have you encountered any challenges or unique situations when advising clients on setting up revocable living trusts?
Absolutely. I recall working with a client who was deeply concerned about ensuring her two adult children would inherit her home equally. She had always been close to one child but worried that the other might feel slighted if there were any perceived favoritism in the distribution of her assets. We created a revocable living trust specifying that both children would receive equal shares of the home upon her passing, addressing her concern and providing peace of mind.
Another instance involved a client who owned several businesses and wanted to ensure a smooth transition of ownership for his heirs. We used a combination of trusts and other estate planning tools to minimize potential tax liabilities and ensure the continuity of his businesses after he was gone.
According to a 2019 study by the American Bar Association, over 60% of Americans do not have any form of estate plan in place. This statistic highlights the crucial need for individuals to proactively address their future and protect their loved ones.
Taking the Next Step
Steve Bliss, thank you for sharing your expertise with us tonight. What’s the best way for viewers who are interested in learning more about trusts or estate planning to connect with you?
“Brenda, it was my pleasure. I encourage anyone with questions or concerns about their estate plan to reach out to Moreno Valley Probate Law. We offer free consultations and personalized guidance to help individuals create a secure future for themselves and their loved ones.”
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law were exceptional. They patiently guided me through the complex process of setting up my trust, ensuring that all my wishes were met.”
“Moreno Valley Probate Law made what felt like an overwhelming task incredibly manageable. Their professionalism and compassion put my mind at ease throughout the entire process.”
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: “Can I put my house into a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Trust Lawyer | Estate Lawyer | Trust Lawyer |
| Trust Lawyer Near Me | Estate Lawyer Near Me | Trust Lawyer Near me |
| Moreno Valley Trust Lawyer | Moreno Valley Estate Lawyer | Moreno Valley Trust Lawyer |
| Trust Lawyer Moreno Valley | Estate Lawyer Moreno Valley | Trust Lawyer Moreno Valley |