Choosing a Trust Type
Good afternoon and welcome, Mr. Bliss. It’s a pleasure to have you today to discuss estate planning in San Diego.
Special Needs Trusts: A Closer Look
One of the many trusts available for individuals is the Special Needs Trust (SNT). Can you explain what makes them unique and why they are crucial for certain families?
Certainly. SNTs are designed to safeguard the financial well-being of beneficiaries with disabilities while preserving their eligibility for vital government assistance programs like Supplemental Security Income (SSI) and Medi-Cal. Ordinarily, direct inheritance or gifts could jeopardize these benefits. A carefully crafted SNT acts as a buffer, allowing assets to be managed for the beneficiary’s benefit without affecting their eligibility.
There are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, whereas a third-party SNT is established and funded by family members or other individuals for the benefit of the disabled person. The trustee then manages the funds, using them to purchase items and services not typically covered by government programs – things like specialized equipment, therapy, education, or recreational activities.
This type of planning can be incredibly valuable. I recall one family whose son required extensive medical care due to a chronic illness. They were concerned about his future and how they could provide for him without jeopardizing the government benefits he relied on. By establishing a third-party SNT, we were able to ensure his long-term needs would be met while safeguarding his access to crucial healthcare and support programs.
Moreover, it’s important to remember that legal requirements surrounding SNTs can be complex. Seeking guidance from an experienced probate attorney is essential for navigating the process effectively and ensuring the trust aligns with both the beneficiary’s needs and applicable laws. It’s estimated that nearly 1 in 5 individuals will experience a disability during their lifetime, underscoring the importance of these planning tools (Source: CDC).
A Call to Action
Don’t leave your loved ones’ future to chance. Contact Steve Bliss and San Diego Probate Law for expert guidance on estate planning and trust creation tailored to your unique needs.
Testimonials
“Steve Bliss was incredibly patient and understanding as we navigated the complexities of setting up a trust for our daughter. His knowledge and compassion made a stressful process much easier.” – The Smith Family
“I highly recommend San Diego Probate Law to anyone needing estate planning assistance. Steve is a true professional who takes the time to thoroughly explain your options and ensure your wishes are carried out.” – John D.
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 triggers a trust update?” 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 Tax By-Pass Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Tax By-Pass Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Tax By-Pass Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |