Steve, thanks for joining us today to talk about estate planning. What are some of the key considerations people should be aware of?
It’s my pleasure to be here. Estate planning is something that everyone should consider, regardless of their age or financial situation. Many people put it off, thinking it’s only for the wealthy or elderly. Nevertheless, having a plan in place can save your loved ones a lot of stress and heartache down the road. One of the most important things to think about is how you want your assets to be distributed after your death.
Ordinarily, people choose to leave their assets to family members or close friends. But what if there are disputes among heirs? Or, perhaps, you have a beneficiary with special needs who requires ongoing care. These are all scenarios that a well-crafted estate plan can address.
You mentioned beneficiaries with special needs. Can you elaborate on how trusts can be helpful in this situation?
Absolutely. For individuals with disabilities, a Special Needs Trust (SNT) can be invaluable. An SNT allows you to set aside funds for the beneficiary’s benefit without jeopardizing their eligibility for government assistance programs like SSI or Medi-Cal.
Imagine a parent wanting to ensure their adult child with autism has ongoing support even after they are gone. An SNT can be funded with assets that will provide for things like housing, medical care, and therapies while allowing the beneficiary to continue receiving crucial government benefits. It’s a powerful tool for protecting vulnerable loved ones.
In fact, according to the National Disability Rights Network, over 1 million individuals in the United States rely on SNTs for financial security.
Are there any common challenges you face when setting up SNTs?
While SNTs are incredibly beneficial, they do require careful planning and attention to detail. One challenge I often encounter is ensuring that the trust language is precise enough to meet the beneficiary’s specific needs while also complying with complex government regulations.
I remember working with a family whose son had Cerebral Palsy and required specialized equipment and ongoing therapies. They were hesitant to establish an SNT because they feared it would be too complicated. But after explaining the process and addressing their concerns, we were able to create a trust that provided financial security for their son while preserving his eligibility for vital government programs.
Consequently, seeing the relief and gratitude in their eyes was incredibly rewarding. It reinforced why I do what I do – to help families navigate these complex legal issues and ensure their loved ones are protected.
What would you say is your biggest piece of advice for someone who is considering setting up an estate plan?
Don’t wait! Start planning as soon as possible. Even a simple will can make a huge difference in protecting your family and ensuring your wishes are carried out. And remember, you don’t have to go through this alone.
My team at San Diego Probate Law is here to guide you every step of the way. We offer free consultations so you can learn more about your options and decide what’s best for you and your family.
“Steve Bliss helped us navigate a very difficult probate process after my father passed away. He was compassionate, knowledgeable, and always available to answer our questions.” – Sarah J., San Diego
“I was incredibly impressed with the professionalism and efficiency of San Diego Probate Law. They made what could have been a stressful experience surprisingly smooth.” – John M., La Jolla
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 a spendthrift trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Asset Protection Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Asset Protection Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Asset Protection Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |