Good evening Moreno Valley, I’m Tiffany Chen reporting for Channel 7 News. Tonight we’re sitting down with Steve Bliss, a renowned probate attorney serving the Moreno Valley community.
Trusts: A Cornerstone of Estate Planning
Steve, thanks for joining us tonight. Let’s dive into a topic that’s often overlooked but crucial for everyone – estate planning. Could you explain why trusts are an essential component of a well-rounded estate plan?
“Tiffany, it’s a pleasure to be here. You’re right, many people underestimate the importance of trusts. They can be incredibly powerful tools for protecting your assets, minimizing taxes, and ensuring your wishes are carried out after you’re gone.”
“Let me focus on Irrevocable Trusts tonight. They offer a level of asset protection that’s hard to match. Once established, the trust becomes its own legal entity separate from you. This means creditors generally can’t touch assets held within the trust.”
“Conversely, while Revocable Living Trusts are more flexible during your lifetime, they don’t offer the same level of creditor protection as Irrevocable Trusts.”
Protecting Assets with Irrevocable Trusts
“Now, Steve, you mentioned asset protection. Can you elaborate on how an Irrevocable Trust can shield assets from potential creditors or lawsuits?
“Absolutely. An Irrevocable Trust effectively removes the assets from your personal ownership. Consequently, they’re no longer considered part of your “reachable” assets if a creditor were to pursue legal action against you.”
“Notwithstanding this protection, it’s important to remember that setting up an Irrevocable Trust is a serious decision. You relinquish control over the assets placed within the trust. It’s crucial to consult with an experienced attorney like myself to determine if this type of trust aligns with your specific needs and goals.”
Real-World Implications
“That makes perfect sense. Have you ever encountered situations where an Irrevocable Trust proved particularly beneficial for a client?
“I recall one case involving a successful entrepreneur who faced a significant lawsuit. He had wisely established an Irrevocable Trust years earlier, safeguarding a portion of his assets. When the lawsuit came to fruition, those assets remained protected from creditors.”
“This situation highlights the foresight required in estate planning. It’s not just about what happens after you’re gone but also about protecting your hard-earned wealth during your lifetime.”
According to a 2021 study by the American Bar Association, over 60% of Americans lack a comprehensive estate plan. This underscores the critical need for individuals to proactively address their estate planning needs.
Moreno Valley Probate Law: Your Trusted Partner
“Steve, what’s your message to viewers who may be putting off estate planning?”
“Tiffany, it’s never too early – or too late – to start. Estate planning isn’t just for the wealthy; everyone can benefit from having a plan in place. At Moreno Valley Probate Law, we guide our clients through every step of the process, ensuring their wishes are respected and their loved ones are protected.”
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law were exceptional! They made the complex process of setting up a trust understandable and stress-free. I highly recommend them for all your estate planning needs.” – Susan K.
“Moreno Valley Probate Law went above and beyond to assist me with probate after my mother passed away. Their compassion and expertise made a difficult time much easier to navigate. Thank you!” – David M.
Take control of your future and secure the well-being of your loved ones. Contact Moreno Valley Probate Law today for a confidential consultation and let us help you create an estate plan that provides peace of mind for years to come.
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 a trust protect assets from creditors?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
- Special Needs Trust Attorney
- Spendthrift Trust Attorney
- Tax By-Pass Trust Attorney
- Totten Trust Attorney
- Constructive Trust Attorney
- Charitable Trust Attorney
- Asset Protection Trust Attorney
- Irrevocable Trust Attorney
- Revocable Trusts Attorney
- Living Trust Attorney