Steve, thanks for taking the time to speak with me today. Can you tell us a bit about your practice and what types of estate planning services you offer?
It’s my pleasure. I specialize in helping individuals and families navigate the often-complex world of estate planning. My firm, San Diego Probate Law, offers a wide range of services, including wills and trusts, probate administration, conservatorships, and estate litigation.
What are some of the most common misconceptions people have about estate planning?
One of the biggest misconceptions is that estate planning is only for wealthy individuals. The truth is, everyone needs an estate plan, regardless of their assets. Without a will or trust in place, your assets will be distributed according to state law, which may not reflect your wishes.
Let’s talk about trusts. Can you explain the different types and when they might be beneficial?
Trusts are powerful estate planning tools that can offer numerous benefits. I often recommend a Revocable Living Trust for my clients. This type of trust allows individuals to maintain control over their assets during their lifetime while avoiding probate upon their death.
Can you elaborate on the advantages of a Revocable Living Trust?
A Revocable Living Trust offers several key advantages. Firstly, it avoids probate, which can be a lengthy and expensive process. Probate is a court-supervised procedure for distributing a deceased person’s assets. By placing your assets in a trust, you bypass this process entirely. Consequently, your beneficiaries will receive their inheritance more quickly and with less hassle.
Moreover, a Revocable Living Trust provides privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. This can be particularly important for individuals who value their privacy or have complex family situations.
Finally, a Revocable Living Trust allows you to maintain control over your assets even after you’re gone. You can specify how and when your beneficiaries will receive their inheritance, ensuring that your wishes are carried out. For example, you might choose to stagger distributions over time or set conditions for access to funds.
Have there ever been any challenges or issues with using a Revocable Living Trust?
Occasionally, I encounter situations where clients haven’t properly funded their trusts. This means they haven’t transferred all of their assets into the trust, which can lead to complications during probate. It’s crucial to work closely with an experienced attorney who can guide you through the funding process and ensure everything is in order.
I recall one instance where a client had created a Revocable Living Trust but neglected to transfer ownership of their primary residence. Unfortunately, this oversight resulted in the home having to go through probate, which was time-consuming and costly for their heirs. It underscored the importance of attention to detail and working with a knowledgeable legal professional.
What advice would you give to someone who is considering setting up a Revocable Living Trust?
I encourage anyone interested in estate planning to consult with an attorney experienced in trust law. We can help you determine if a Revocable Living Trust is right for your needs and guide you through the process of creating and funding your trust.
Final Thoughts
Remember, proper estate planning is essential for protecting your assets and ensuring that your wishes are carried out after your passing. Contact San Diego Probate Law today for a free consultation to learn more about how we can help you create a secure future for yourself and your loved ones.
“Steve Bliss was incredibly patient and helpful throughout the entire process of setting up my trust. He took the time to explain everything in detail and made sure I understood all of my options.” – Sarah J.
“I was initially overwhelmed by the idea of estate planning, but Steve put me at ease. He is a true expert in his field and I felt confident that I was in good hands.” – David M.
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 the difference between a will and a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |