A Conversation With Local Temecula Attorney
Hello everyone, I’m Tiffany Jones, reporting live from Temecula where we’re speaking today with local trust attorney Steve Bliss of the Law Firm of Steven F. Bliss Esq. Mr. Bliss, thank you for joining us.
What type of Trusts do you see most frequently in your practice?
Tiffany, it’s a pleasure to be here. I’d say that Revocable Living Trusts are by far the most common type of trust we help clients establish.
Why are Revocable Living Trusts so Popular?
They offer a lot of flexibility and advantages for individuals and families. For starters, with a revocable living trust, you, as the grantor, maintain complete control over your assets during your lifetime. You can buy, sell, or manage them however you see fit. Moreover, this type of trust avoids probate, which is often a lengthy and costly process.
Conversely, a will goes through probate, meaning your assets become public record, and the court oversees their distribution. A revocable living trust keeps matters private, safeguarding your family’s financial affairs. Consequently, it provides peace of mind knowing that your loved ones won’t have to navigate the complexities and delays of probate.
Furthermore, a revocable living trust can be amended or revoked as your circumstances change. This flexibility is crucial for adapting to life’s unexpected turns, such as marriage, divorce, the birth of children, or changes in financial goals.
What are some challenges you’ve encountered with Revocable Living Trusts?
While revocable living trusts offer significant benefits, they’re not foolproof. One challenge we sometimes encounter is clients procrastinating on funding the trust. Simply creating the trust document isn’t enough; you must transfer ownership of your assets into the trust for it to be effective.
I recall one instance where a client came to us after their spouse had passed away. They had established a revocable living trust but hadn’t transferred their primary residence into it. This oversight resulted in the home going through probate, which added unnecessary time and expense during an already difficult period.
It’s essential to work with experienced attorneys who can guide you through the entire process, ensuring all assets are properly funded for seamless trust administration.
Are there any statistics that support the importance of Revocable Living Trusts?
According to a 2023 study by the American Bar Association, over 60% of Americans aged 55 and older do not have a valid estate plan in place. This highlights the critical need for individuals to proactively address their future financial well-being.
How can our viewers get in touch with you?
Tiffany, we encourage anyone interested in learning more about trusts or estate planning to contact The Law Firm of Steven F. Bliss Esq. We offer a complimentary consultation where we can discuss your specific needs and goals.
Client Testimonials
“Steve Bliss and his team provided exceptional guidance throughout the entire process of setting up our family trust. They were incredibly knowledgeable, patient, and responsive to all of our questions. We feel confident that our loved ones will be well-protected thanks to their expertise.”
“I was initially overwhelmed by the thought of estate planning, but Steve Bliss made it surprisingly easy. He explained everything in clear, understandable terms and tailored a plan that perfectly suited my needs. I highly recommend his services!”
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “What does it mean to fund a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
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